Lightning’s Bitcoin mainnet: the phenomenal growth

[BitHodler]

60% of LN balance belongs to one entity

I'm not exactly sure on the percentages, but assuming this is true for argument sake, it's quite bullish. It is recommended that people only dedicate small amounts to LN, and this LNBIG entity ignoring that shows how much trust there is in LN.

Overall, people seem to dislike something that works extremely well if you're connected to the right nodes. I haven't had one single transaction fail in the last few weeks.

The most expensive fee I had to deal with was 10 sats, where the rest is either free or 1 sat. There is no point in being so salty. If people get it working right, they find it useful, then it's all fine.

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[kano]

60% of LN balance belongs to one entity

I'm not exactly sure on the percentages, but assuming this is true for argument sake, it's quite bullish. It is recommended that people only dedicate small amounts to LN, and this LNBIG entity ignoring that shows how much trust there is in LN.

Overall, people seem to dislike something that works extremely well if you're connected to the right nodes. I haven't had one single transaction fail in the last few weeks.

The most expensive fee I had to deal with was 10 sats, where the rest is either free or 1 sat. There is no point in being so salty. If people get it working right, they find it useful, then it's all fine.

Works well?
It sux.
Has had no effect on the current txn bloat.
Yet again Segwit fails.

[Wind_FURY]

those calling it a lightning bitcoin mainnet. or a bitcoin layer 2.. have no clue
those saying LN has great growth have no clue.

the sudden 'growth' is not real utility. but people 'buying channels' or getting free channels

one service offering "channel opening" is showing this as their tweet
https://twitter.com/lnbig_com/status/1112688601429614593
"Sum of all local balances from us: 618.75808533 BTC"

60% of LN balance belongs to one entity

But give some credit, and consider the node-count in Lightning, which is more than the node-count of Bitcoin Cash, or Bitcoin Cash SV, or maybe even two of them together?

Although, I would have to agree. The growth is good, but not that phenomenal.

[franky1]

windfury
you dont use LN, you dont understand LN. so why are you always trying to promote LN

LN is not bitcoin
not all nodes are individual people

check this out
https://1ml.com/location/us/va
"LNBIG.COM[LND-1], LNBIG.COM[LND-2],LNBIG.COM[LND-3],LNBIG.COM[LND-4],LNBIG.COM[LND-5],LNBIG.COM[LND-6],LNBIG.COM[LND-7],LNBIG.COM[LND-8],LNBIG.COM[LND-9],LNBIG.COM[LND-10],LNBIG.COM[LND-11],LNBIG.COM[LND-12],LNBIG.COM[LND-13],LNBIG.COM[LND-14],LNBIG.COM[LND-15],LNBIG.COM[LND-16],LNBIG.COM[LND-17],LNBIG.COM[LND-18],LNBIG.COM[LND-19],LNBIG.COM[LND-20],LNBIG.COM[LND-21],LNBIG.COM[LND-22],LNBIG.COM[LND-23],LNBIG.COM[LND-24],LNBIG.COM[LND-25],LNBIG.COM[LND-26],LNBIG.COM[LND-27],LNBIG.COM[LND-28],LNBIG.COM[LND-29],LNBIG.COM[LND-30],LNBIG.COM[LND-30],LNBIG.COM[LND-31], LNBIG.COM[LND-32],LNBIG.COM[LND-33],LNBIG.COM[LND-34],LNBIG.COM[LND-35],LNBIG.COM[LND-36],LNBIG.COM[LND-37],LNBIG.COM[LND-38],LNBIG.COM[LND-39],LNBIG.COM[LND-40],LNBIG.COM[LND-41],LNBIG.COM[LND-42],LNBIG.COM[LND-1],

[loicuagio1979]

windfury
you dont use LN, you dont understand LN. so why are you always trying to promote LN

LN is not bitcoin
not all nodes are individual people

check this out
https://1ml.com/location/us/va
"LNBIG.COM[LND-1], LNBIG.COM[LND-2],LNBIG.COM[LND-3],LNBIG.COM[LND-4],LNBIG.COM[LND-5],LNBIG.COM[LND-6],LNBIG.COM[LND-7],LNBIG.COM[LND-8],LNBIG.COM[LND-9],LNBIG.COM[LND-10],LNBIG.COM[LND-11],LNBIG.COM[LND-12],LNBIG.COM[LND-13],LNBIG.COM[LND-14],LNBIG.COM[LND-15],LNBIG.COM[LND-16],LNBIG.COM[LND-17],LNBIG.COM[LND-18],LNBIG.COM[LND-19],LNBIG.COM[LND-20],LNBIG.COM[LND-21],LNBIG.COM[LND-22],LNBIG.COM[LND-23],LNBIG.COM[LND-24],LNBIG.COM[LND-25],LNBIG.COM[LND-26],LNBIG.COM[LND-27],LNBIG.COM[LND-28],LNBIG.COM[LND-29],LNBIG.COM[LND-30],LNBIG.COM[LND-30],LNBIG.COM[LND-31], LNBIG.COM[LND-32],LNBIG.COM[LND-33],LNBIG.COM[LND-34],LNBIG.COM[LND-35],LNBIG.COM[LND-36],LNBIG.COM[LND-37],LNBIG.COM[LND-38],LNBIG.COM[LND-39],LNBIG.COM[LND-40],LNBIG.COM[LND-41],LNBIG.COM[LND-42],LNBIG.COM[LND-1],

Well, i promote LN because it's one of the logical math in the near future which I wanna solve myself.
You're right, i and most of btc enthusiasts don't or even never use LN but I wanna deeply understand what it really is and how it works
Thank you for your information. I will take it into my consideration

[Wind_FURY]

windfury
you dont use LN, you dont understand LN. so why are you always trying to promote LN

Why the lies? Plus who's promoting? I'm only informing newbies that there are no "IOU promises to pay tokens" in the Lightning Network, which is a fact.

But newbies, listen to franky1, accept it as "the truth", then do your own research. Or not. Haha.

[kryptqnick]

I have never used lightning network, because so far I didn't feel the need for it, and because I was too lazy to learn how to use it. If the network is too centralised, it's a serious risk, but the fees people are talking about are amazing, and perhaps the former issue would solve itself if more people joined the network.
Bitcoin might be getting bullish again, and the fees are rising. If they get as high as they did in 2017, I'll give the lightning network a try. And others probably will too, since it seems to tackle the scalability issue better than anything else offered so far.

[rmilly]

It's been pretty phenomenal to watch. People were getting so excited to get involved. As crypto should be! mass adoption is near

[tongokongo]

and because I was too lazy to learn how to use it

I think now is the best time. It's still well ahead of any serious adoption and already usable in many ways. You can set up the node almost for free (raspberry pi parts) and learn basics as you go. I seriously think that it's the best time to get immersed in this topic.

Shameless plug, here is video that shows the process of setting up the node: https://youtu.be/77BBQWg1n8w

[ranman09]

This is great news. Even though large entities hold a larger percentage of the channel still this means that people are now turning to using bitcoin as a currency not for exchanges only. It just makes sense for me that this entity is getting big. It cost money to open a channel.

[Wind_FURY]

windfury
you dont use LN, you dont understand LN. so why are you always trying to promote LN

LN is not bitcoin
not all nodes are individual people

check this out
https://1ml.com/location/us/va
"LNBIG.COM[LND-1], LNBIG.COM[LND-2],LNBIG.COM[LND-3],LNBIG.COM[LND-4],LNBIG.COM[LND-5],LNBIG.COM[LND-6],LNBIG.COM[LND-7],LNBIG.COM[LND-8],LNBIG.COM[LND-9],LNBIG.COM[LND-10],LNBIG.COM[LND-11],LNBIG.COM[LND-12],LNBIG.COM[LND-13],LNBIG.COM[LND-14],LNBIG.COM[LND-15],LNBIG.COM[LND-16],LNBIG.COM[LND-17],LNBIG.COM[LND-18],LNBIG.COM[LND-19],LNBIG.COM[LND-20],LNBIG.COM[LND-21],LNBIG.COM[LND-22],LNBIG.COM[LND-23],LNBIG.COM[LND-24],LNBIG.COM[LND-25],LNBIG.COM[LND-26],LNBIG.COM[LND-27],LNBIG.COM[LND-28],LNBIG.COM[LND-29],LNBIG.COM[LND-30],LNBIG.COM[LND-30],LNBIG.COM[LND-31], LNBIG.COM[LND-32],LNBIG.COM[LND-33],LNBIG.COM[LND-34],LNBIG.COM[LND-35],LNBIG.COM[LND-36],LNBIG.COM[LND-37],LNBIG.COM[LND-38],LNBIG.COM[LND-39],LNBIG.COM[LND-40],LNBIG.COM[LND-41],LNBIG.COM[LND-42],LNBIG.COM[LND-1],

Well, i promote LN because it's one of the logical math in the near future which I wanna solve myself.
You're right, i and most of btc enthusiasts don't or even never use LN but I wanna deeply understand what it really is and how it works
Thank you for your information. I will take it into my consideration

LN is nothing more than a 3rd party offchain IOU system.
Time Lock coins on any segwit coin, ie: btc or ltc or others
Make LN contracts (IOUs) to other LN parties ,
Once concluded, hopefully redeem said amount on whichever blockchain you used to begin with.

Work on LN instant channels , for users to seem to have actual funds,
but they never waited to verify the onchain time lock actually confirmed.
Which opens the potential for fractional reserves and counterfeiting something blocked by the blockchain itself.
No different than modern banks fractional reserve shenanigans.

Slick, how they screwed the blockchain users by offering offchain banking.  

FYI:
Little known facts, use LN incorrectly and you actually increase the number of onchain transactions needed.
LN used correctly to lower onchain transactions, must be primary between the same parties at enough transactions to decrease onchain transactions compared to just paying onchain.
Using a gift card has proved superior to LN in lowering onchain transactions for normal people.
Using LN with Litecoin is ~33X cheaper than using LN with btc, also since litecoin has plenty of onchain capacity ,
this decreases the threat of losing funds due to a offchain transactions not being onchain at the specified time.  

To all newbies. Listen to him and franky1, and take everything they say about Lightning as the truth. Believe everything.

If you have more questions, ask them in this topic, https://bitcointalk.org/index.php?topic=4792622.0

Memefy them.

[franky1]

If you have more questions, ask them in this topic, https://bitcointalk.org/index.php?topic=4792622.0
Memefy them.

so after many months of your nonsense. your 'proof' that LN is not pegged IOU is some quote of someone..

well again, do some actual research. and look into unconfirmed payments in millisats.
goodluck trying to counter argue that millisat based contracts are bitcoin confirmed funds.

i gave you many chances to update/correct your lack of knowledge. but it seemed you ignored the hints
so one more chance. hint: learn about millisats.
its the first stepping stone outside the echo chamber you have become stuck in.. please dont fear taking steps outside your echo chamber, the big wide world of reality is not as scary as yo may think.. enjoy learning new things

[Wind_FURY]

If you have more questions, ask them in this topic, https://bitcointalk.org/index.php?topic=4792622.0
Memefy them.

so after many months of your nonsense. your 'proof' that LN is not pegged IOU is some quote of someone..

well again, do some actual research. and look into unconfirmed payments in millisats.
goodluck trying to counter argue that millisat based contracts are bitcoin confirmed funds.

i gave you many chances to update/correct your lack of knowledge. but it seemed you ignored the hints
so one more chance. hint: learn about millisats.
its the first stepping stone outside the echo chamber you have become stuck in.. please dont fear taking steps outside your echo chamber, the big wide world of reality is not as scary as yo may think.. enjoy learning new things

No, because all the answers that the newbies will actually learn are from people who don't spread misinformation, and disingenuous techno-babble from people who have been losing with their narrative. Sorry, but Roger Ver, Jihan Wu, or Craig Wright has lost.

But newbies, listen to franky1. It's also the other correct path to real learning.

[franky1]

If you have more questions, ask them in this topic, https://bitcointalk.org/index.php?topic=4792622.0
Memefy them.

so after many months of your nonsense. your 'proof' that LN is not pegged IOU is some quote of someone..

well again, do some actual research. and look into unconfirmed payments in millisats.
goodluck trying to counter argue that millisat based contracts are bitcoin confirmed funds.

i gave you many chances to update/correct your lack of knowledge. but it seemed you ignored the hints
so one more chance. hint: learn about millisats.
its the first stepping stone outside the echo chamber you have become stuck in.. please dont fear taking steps outside your echo chamber, the big wide world of reality is not as scary as yo may think.. enjoy learning new things

No, because all the answers that the newbies will actually learn are from people who don't spread misinformation, and disingenuous techno-babble from people who have been losing with their narrative. Sorry, but Roger Ver, Jihan Wu, or Craig Wright has lost.

But newbies, listen to franky1. It's also the other correct path to real learning.

windfury, why have you decided to be a social drama queen. wouldnt it atleast benefit you to actually learn about the tech for once.
learn by USING, learn by reading CODE, checking stats
if you only want to learn via social drama, than your failing yourself

again do some actual research
you spend too much time with this social drama stuff that its becoming obvious your just on this forum to troll people and just shout "wrong coz [persons name]" without actually using any experience, code, stats, data

[Wind_FURY]

If you have more questions, ask them in this topic, https://bitcointalk.org/index.php?topic=4792622.0
Memefy them.

so after many months of your nonsense. your 'proof' that LN is not pegged IOU is some quote of someone..

well again, do some actual research. and look into unconfirmed payments in millisats.
goodluck trying to counter argue that millisat based contracts are bitcoin confirmed funds.

i gave you many chances to update/correct your lack of knowledge. but it seemed you ignored the hints
so one more chance. hint: learn about millisats.
its the first stepping stone outside the echo chamber you have become stuck in.. please dont fear taking steps outside your echo chamber, the big wide world of reality is not as scary as yo may think.. enjoy learning new things

No, because all the answers that the newbies will actually learn are from people who don't spread misinformation, and disingenuous techno-babble from people who have been losing with their narrative. Sorry, but Roger Ver, Jihan Wu, or Craig Wright has lost.

But newbies, listen to franky1. It's also the other correct path to real learning.

windfury, why have you decided to be a social drama queen. wouldnt it atleast benefit you to actually learn about the tech for once.
learn by USING, learn by reading CODE, checking stats
if you only want to learn via social drama, than your failing yourself

again do some actual research
you spend too much time with this social drama stuff that its becoming obvious your just on this forum to troll people and just shout "wrong coz [persons name]" without actually using any experience, code, stats, data

You can call me whatever you like, but nothing will change Bitcoin history, and Bitcoin facts.

There's no social drama. It's Bitcoin history. But newbies, I encourage you to listen to franky1's version.

[franky1]

If you have more questions, ask them in this topic, https://bitcointalk.org/index.php?topic=4792622.0
Memefy them.

so after many months of your nonsense. your 'proof' that LN is not pegged IOU is some quote of someone..

well again, do some actual research. and look into unconfirmed payments in millisats.
goodluck trying to counter argue that millisat based contracts are bitcoin confirmed funds.

i gave you many chances to update/correct your lack of knowledge. but it seemed you ignored the hints
so one more chance. hint: learn about millisats.
its the first stepping stone outside the echo chamber you have become stuck in.. please dont fear taking steps outside your echo chamber, the big wide world of reality is not as scary as yo may think.. enjoy learning new things

No, because all the answers that the newbies will actually learn are from people who don't spread misinformation, and disingenuous techno-babble from people who have been losing with their narrative. Sorry, but Roger Ver, Jihan Wu, or Craig Wright has lost.

But newbies, listen to franky1. It's also the other correct path to real learning.

windfury, why have you decided to be a social drama queen. wouldnt it atleast benefit you to actually learn about the tech for once.
learn by USING, learn by reading CODE, checking stats
if you only want to learn via social drama, than your failing yourself

again do some actual research
you spend too much time with this social drama stuff that its becoming obvious your just on this forum to troll people and just shout "wrong coz [persons name]" without actually using any experience, code, stats, data

You can call me whatever you like, but nothing will change Bitcoin history, and Bitcoin facts.

There's no social drama. It's Bitcoin history. But newbies, I encourage you to listen to franky1's version.

i talk about millisats, i shown proof that LNbig hosts alot of the 'balance' which shows its not a large consumer base but a corporation faking growth by bloating its own balance into the network

and all windfury can do is talk about social names and social stuff. no code, no stats, no features.
so yea windfury you love social drama not bitcoin facts

now go spend some time learning about bitcoin, not social drama. it will help you

[killat]

Lightning network mass adoption can make the difference between crypto as a standalone payment alternative and nothing more than pure speculation.

I just hope to see lightning network implemented in many projects in the near future.

[tbct_mt2]

BTC – median transaction fee: $0.653
ETH - median transaction fee: $0.106
EOS - median transaction fee: $0.0136
BCH - median transaction fee: $0.0057
TRON - median transaction fee: $0.0001
LTC - median transaction fee: $0.0561

You posted very interesting figures on median transaction fees of BTC, ETH, EOS, BCH, TRON, and LTC (6 coins). Among 6 coins, fees of Litecoin is cheapest. 
However, if you can, please give me your hands on two things:
Firstly, can you give me the source where you visited and get those figures, please.
Secondly, can you post additional figure on the median transaction fee of Dogecoin, please.

[Wind_FURY]

If you have more questions, ask them in this topic, https://bitcointalk.org/index.php?topic=4792622.0
Memefy them.

so after many months of your nonsense. your 'proof' that LN is not pegged IOU is some quote of someone..

well again, do some actual research. and look into unconfirmed payments in millisats.
goodluck trying to counter argue that millisat based contracts are bitcoin confirmed funds.

i gave you many chances to update/correct your lack of knowledge. but it seemed you ignored the hints
so one more chance. hint: learn about millisats.
its the first stepping stone outside the echo chamber you have become stuck in.. please dont fear taking steps outside your echo chamber, the big wide world of reality is not as scary as yo may think.. enjoy learning new things

No, because all the answers that the newbies will actually learn are from people who don't spread misinformation, and disingenuous techno-babble from people who have been losing with their narrative. Sorry, but Roger Ver, Jihan Wu, or Craig Wright has lost.

But newbies, listen to franky1. It's also the other correct path to real learning.

windfury, why have you decided to be a social drama queen. wouldnt it atleast benefit you to actually learn about the tech for once.
learn by USING, learn by reading CODE, checking stats
if you only want to learn via social drama, than your failing yourself

again do some actual research
you spend too much time with this social drama stuff that its becoming obvious your just on this forum to troll people and just shout "wrong coz [persons name]" without actually using any experience, code, stats, data

You can call me whatever you like, but nothing will change Bitcoin history, and Bitcoin facts.

There's no social drama. It's Bitcoin history. But newbies, I encourage you to listen to franky1's version.

i talk about millisats, i shown proof that LNbig hosts alot of the 'balance' which shows its not a large consumer base but a corporation faking growth by bloating its own balance into the network

and all windfury can do is talk about social names and social stuff. no code, no stats, no features.
so yea windfury you love social drama not bitcoin facts

now go spend some time learning about bitcoin, not social drama. it will help you

I agree. I'm the stupid one. Newbies, you won't learn anything from me. But, you will learn many things from franky1. He's a coder, he reads all the code. He also did his own due diligence on the Lightning Network, and had a profound discovery that Lightning transactions are made up of IOU pegged promises to pay tokens issued by the network.

Believe him. Thank you franky1 for opening our eyes to the truth.



Newbies, whatever happens in your Bitcoin journey depends on you. If you believe the Earth is flat, then it is flat.

[okala]

Bitcoin lightening payment is fast and cheap when you already created a lightening channel but the on-net transactions come with a very high fee, the lightening network is still very young and a lot of us can not understand the process easily on like the old method of bitcoin transaction. I try creating a channel and uptil now I finding it hard to understand how it works, any one willing to give a more elaborate explanations.