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Author Topic: Countdown to 1000 LN nodes  (Read 47 times)
pereira4
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February 28, 2018, 04:54:49 PM
 #1

https://lnmainnet.gaben.win/

We just hit 900 nodes today in the lightning network, and we are about to hit 1000 nodes. Why not gather in here and countdown to 1000 nodes?

Also, how many nodes do you think we will have a year from now and how will affect the price? My guess is that a year from now we'll have 100,000 nodes, and it will be commonly used in the bitcoin community.

By 2020+, big companies will start running their own nodes and will accept payments.

By 2025, most transactions on the planet will be happening on bitcoin through the LN. Only idiots will use anything else.
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February 28, 2018, 05:24:52 PM
 #2

Ah how those strings attach, oddly satisfying for me. My guess is that we will hit 1k nodes on March 8th, and that one year from now we will have 72,537 nodes on the network. Can't wait to see the day when I can use an app and send my friend money instantly, for almost free!

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February 28, 2018, 05:32:23 PM
 #3

That's great, but I see can't see LN adoption any time soon,we need some big organizations to support LN network or it won't work, because there won't be big amount of channels to connect to(if you want to transfer funds to X, and you have already transferred funds to Y, it means that you have an open channel with Y, and you need to have a chain of channels that the starting node is being connected to Y and the ending node is connected to X).
It will take some times, but as we can see adoption starts to hit segwit, I believe it's going to work by 2022 and is actually going to have a usage by then.

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pereira4
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March 01, 2018, 07:55:36 PM
 #4

Ah how those strings attach, oddly satisfying for me. My guess is that we will hit 1k nodes on March 8th, and that one year from now we will have 72,537 nodes on the network. Can't wait to see the day when I can use an app and send my friend money instantly, for almost free!

Yep there's something pleasing to the eye about that insane amount of connections. And it gets better, if you click and drag a node the entire structure moves with it, it's pretty awesome to see.

The problem is, my computer is slow when I move a node or zoom in and out. When we have many more nodes I wonder how the hell it's going to be able to process that.. it's going to crash Firefox.

Someone needs to do a proper implementation that takes advantage of accelerated graphics to make it smooth.
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March 02, 2018, 11:09:44 AM
 #5

Everything shows that LN is waiting for a great future. In an article published on Monday at the Ars Technica website, the Lightning Network is described as a "way out" to address the problem of insufficient network bandwidth.

https://arstechnica.com/tech-policy/2018/02/bitcoins-lightning-network-a-deep-dive/
pereira4
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March 02, 2018, 04:34:18 PM
 #6

Everything shows that LN is waiting for a great future. In an article published on Monday at the Ars Technica website, the Lightning Network is described as a "way out" to address the problem of insufficient network bandwidth.

https://arstechnica.com/tech-policy/2018/02/bitcoins-lightning-network-a-deep-dive/

There are many articles on big media now talking about the lightning network, people will slowly catch up, but we are going to need years to get there. Peter Todd said it has many weaknesses that need to be addressed:

http://bitcoinist.com/peter-todd-warns-lightning-network/

But long term is looking good. Nick Szabo said a year ago good things about LN:

http://bitcoinist.com/nick-szabo-bitcoin-censorship-resistance/

And by the way since I create this thread we went up 9 nodes. At this rate in about 100 days we should hit the 1000 node milestone.
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March 02, 2018, 04:36:22 PM
 #7

LN newb here, how to contribute to the network?
pereira4
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March 02, 2018, 04:55:11 PM
 #8

LN newb here, how to contribute to the network?

Well, I only see 3 things you can do:

1) Promote the network: Create content about it. Tutorials in how to set a node, how it works, refuding bullshit from /r/btc...
2) Become a coder: Develop wallets for LN for easier user, create websites accepting payments... (see for example: https://starblocks.acinq.co/#/)
3) Run a node: simply learn how to run a node and maintain it.. the more nodes the better.
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March 02, 2018, 04:57:17 PM
 #9

LN newb here, how to contribute to the network?

Well, I only see 3 things you can do:

1) Promote the network: Create content about it. Tutorials in how to set a node, how it works, refuding bullshit from /r/btc...
2) Become a coder: Develop wallets for LN for easier user, create websites accepting payments... (see for example: https://starblocks.acinq.co/#/)
3) Run a node: simply learn how to run a node and maintain it.. the more nodes the better.

where to find information on (3)?
peter0425
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March 02, 2018, 05:10:43 PM
 #10

LN newb here, how to contribute to the network?

Well, I only see 3 things you can do:

1) Promote the network: Create content about it. Tutorials in how to set a node, how it works, refuding bullshit from /r/btc...
2) Become a coder: Develop wallets for LN for easier user, create websites accepting payments... (see for example: https://starblocks.acinq.co/#/)
3) Run a node: simply learn how to run a node and maintain it.. the more nodes the better.

where to find information on (3)?

1. Run your own mainnet Lightning Node

2. Bitcoin Lightning Network Node Easy Setup Tutorial for Windows Desktop Users — A how to guide

3. How to: Setup a Bitcoin Lightning Network Node for Windows / Mac Desktop Users and Raspberry Pi

I'm pretty sure you will find those links very useful. I haven't done it personally though but eternalgloom has already set it up and saying that he uses option 2 above as his guide in this thread.

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g-uid
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March 02, 2018, 08:35:44 PM
 #11

LN newb here, how to contribute to the network?

Well, I only see 3 things you can do:

1) Promote the network: Create content about it. Tutorials in how to set a node, how it works, refuding bullshit from /r/btc...
2) Become a coder: Develop wallets for LN for easier user, create websites accepting payments... (see for example: https://starblocks.acinq.co/#/)
3) Run a node: simply learn how to run a node and maintain it.. the more nodes the better.

where to find information on (3)?

1. Run your own mainnet Lightning Node

2. Bitcoin Lightning Network Node Easy Setup Tutorial for Windows Desktop Users — A how to guide

3. How to: Setup a Bitcoin Lightning Network Node for Windows / Mac Desktop Users and Raspberry Pi

I'm pretty sure you will find those links very useful. I haven't done it personally though but eternalgloom has already set it up and saying that he uses option 2 above as his guide in this thread.


Very helpful, thanks!
pereira4
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March 12, 2018, 05:14:54 PM
 #12

Wow, I made this thread only 12 days ago and we are already past 1000 lightning network nodes, impressive:

https://lnmainnet.gaben.win/

Quote
Nodes   1006
Channels   1881
Total Capacity   447.792.248,00 sat (41.575,94 $ USD)
Total Fees   too tiny

This shows that the growth we are seeing is not linear but exponential, which means that we are going to hit 10000 nodes rather soon.

I predict 1 million nodes by 2020 at this rate, which a very high price per bitcoin, probably near $100,000. Things are bright for bitcoin, let the panic sellers do their job and buy the dip.
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