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Author Topic: First Successful Physical Purchase Transaction on Lightning Network  (Read 202 times)
skurtsil
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January 28, 2018, 01:33:00 PM
 #1

Is this true?

https://www.tokens24.com/news/first-successful-physical-purchase-transaction-lightning-network/
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January 28, 2018, 01:45:19 PM
Merited by QuestionAuthority (20), OgNasty (1), nullius (1)
 #2

It's most certainly true. I'm going to cite certain references from Twitter down in my post.

Torguard was the first to accept and take the risk of having it's services / products sold on Lightning Mainnet. Lightning developers have although warned about transacting on the mainnet since it's mostly in alpha and developers are losing funds. Basically Torguard initiated this process by providing it's VPN services and this was their disclaimer https://twitter.com/torguard/status/950383059735646209?lang=en "Disclaimer: c-lightning is not production ready. TorGuard will cover loss of funds when sending us LN payments. Testnet is so boring."

There were also references where TorGuard mentioned that they would give away 1 month of TorGuard VPN service for 1 month. Following this, Blockstream also launched a store and Lightning charge to accept payments over lightning - https://blockstream.com/2018/01/16/lightning-charge.html. I believe it's currently for developers to test, but it's also available on the lightning mainnet.

I'm actually very pleased to see this happen, but at the same time would be a bit cautious about transacting on the mainnet lightning. If you want to test lightning now, you can try out a lightning client like lightning-app or zap wallet on testnet and try it on yalls, bitrefill or starblocks coffee. Exciting times!

Reference #1: https://twitter.com/TorGuard/status/954452246686785536
Reference #2: https://www.reddit.com/r/Bitcoin/comments/7rkunw/lightning_the_future_just_arrived_at_my_doorstep/
FarmerMan
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January 28, 2018, 04:26:11 PM
 #3

i wouldnt count on moving large amounts of coin on this new netwrok, i cant risk that, i already took a risk in investing coins now another risk on top of that risk. oh no.
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January 28, 2018, 06:33:58 PM
Merited by DooMAD (2), nullius (1)
 #4

i wouldnt count on moving large amounts of coin on this new netwrok, i cant risk that, i already took a risk in investing coins now another risk on top of that risk. oh no.
there are always people here who don't get it right. I'm sorry if your risk turned out to be losses. But maybe this risk turns into a win in the future? I just want to state something very clear, cause currently here in the forum there is too much fud on lightning.

- The bitcoin network has proven to be secure for very large values.
  people discovered, that bitcoin was not good enough for smaller payments, so SegWit for larger blocks was developed, and Lightning for smaller values.
- The Lightning network is the idea for mini or micro payments.

A new technology is never ever ready to be used for large amounts. Why would you want to put large amounts into something that you don't trust? There is a contradiction in this... If you think it is too much risk, then maybe stay with bitcoin (or other coins). Nobody forces us to use lightning ...
 
There are also people who try to say that lightning is insecure, is a banking system, is not scaling, or is not trustworthy, or even better, is a centralized system. For sure they know how the future will develop (aka throwing shells).
Don't listen to these idiots! Participate in setting up a node, get accustomed to its features, and create your own opinion. And yes, use the forums here (good!). That's why we have brains. Raise open ended questions, and keep the discussion going with arguments, instead of assumptions (based on zero knowledge). And with our brains we make the crypto currency world sexy, future proof and fun.
People who are just criticizing without proper knowledge just drag you down to their idiotic knowledge, with their stupidity, and will beat you there with their experience. You don't want to be there!  Grin Grin Grin

LeGaulois
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January 28, 2018, 07:44:47 PM
 #5

It's not the first transaction with LN. It has been successfully used last month with Bitrefill to top up the mobile of someone.
It has been like instant and without fee used. You can try lightning payments with Bitrefill if you want https://blog.bitrefill.com/test-instructions-lightning-on-bitrefill-ef6db8714b00

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January 29, 2018, 12:46:05 AM
 #6

They are just setting inter-bank connections and testing it just now on Lightning before the general public can use it or
it won't work unless you want to open a channel to all the people you send BTC to and you can see for yourself whats
going on with this network map

https://lnmainnet.gaben.win/

Miners have become bankers because they have the hardware, knowledge and BTC to finance the channels
and we know the development team gives them what ever they want anyway.

Banks are bad so here have as many as you want  Cheesy Cheesy Cheesy and why not run a ICO and have your own currency
whilst you are about it.

Mining is CPU-wars and Intel, AMD like it nearly as much as big oil likes miners wasting electricity. Is this what mankind has come too.
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January 29, 2018, 12:48:59 AM
 #7

It's not the first transaction with LN. It has been successfully used last month with Bitrefill to top up the mobile of someone.
It has been like instant and without fee used. You can try lightning payments with Bitrefill if you want https://blog.bitrefill.com/test-instructions-lightning-on-bitrefill-ef6db8714b00

Bitcoin was like that, fast and free whilst being used by developers and students but then look what happened with
fees so good luck if you think banking hubs will keep it like that because history tells me they won't

Mining is CPU-wars and Intel, AMD like it nearly as much as big oil likes miners wasting electricity. Is this what mankind has come too.
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January 29, 2018, 01:03:44 AM
 #8

It's not the first transaction with LN. It has been successfully used last month with Bitrefill to top up the mobile of someone.
It has been like instant and without fee used. You can try lightning payments with Bitrefill if you want https://blog.bitrefill.com/test-instructions-lightning-on-bitrefill-ef6db8714b00

Bitcoin was like that, fast and free whilst being used by developers and students but then look what happened with
fees so good luck if you think banking hubs will keep it like that because history tells me they won't

I don't see an issue with fees right now. As of this post you can get an on-chain payment confirmed in the next block with 4 sat/b thanks to the continuing adoption of technologies like batching and segwit.
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January 29, 2018, 05:51:37 AM
 #9

It's not the first transaction with LN. It has been successfully used last month with Bitrefill to top up the mobile of someone.
It has been like instant and without fee used. You can try lightning payments with Bitrefill if you want https://blog.bitrefill.com/test-instructions-lightning-on-bitrefill-ef6db8714b00

Bitcoin was like that, fast and free whilst being used by developers and students but then look what happened with
fees so good luck if you think banking hubs will keep it like that because history tells me they won't

You again with your negativity. Who says the Lightning Network can only work through Banking hubs? Please give us the source for this implementation. If someone says the "Hub & Spoke" model is ideal for the implementation, then it does not mean that it is the only method. <Where does it say that all hubs would be Banks?>

You are deliberately spreading FUD on the forum and this is quickly getting old now.

NOTHING stops you from opening private channels between parties or even merchants, if both parties consent to it and multiple alternative routes can be followed to it's destination. <You are not forced to go through specific Hubs>

diwataluna
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January 30, 2018, 06:42:21 AM
 #10

This is a bit of positive news that will hopefully balloon in time. By any chance, is this the same LN referenced by the hard fork by Bitcoin Atom? I've not seen much news about that one and was hoping to find out more.
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January 31, 2018, 10:32:56 AM
 #11

i wouldnt count on moving large amounts of coin on this new netwrok, i cant risk that, i already took a risk in investing coins now another risk on top of that risk. oh no.
Lol seriously? I know it's a third party network for Bitcoin but it's trusted stop spreading things like this. there is nothing to worry about the
Lightning network they are making things better for Bitcoin's network. This is a big hop for BTC's network due to overload more and more would support LN in the future because of it is capable of micro payments from peer to peer without sending too much fees on it.


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