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Author Topic: Lightning Network Observer  (Read 13026 times)
franky1
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December 21, 2023, 02:38:00 PM
Last edit: December 21, 2023, 02:54:01 PM by franky1
 #741

YOU are the one mentioning shitcoins.. if you dont know the difference between mainnet coins vs subnetworks.. thats on you. and something you should spend some time on
grow up and look outside the group and realise there are more subnetwork bridges to bitcoin and for emphasis im not talking about shitcoins
(little hint mainnets like bitcoin altcoin and shitcoin use blockchains. subnetwork bridges dont)
(bridges that use a blockchain are called sidechains)

when you realise that even LN devs admit to flaws they wont be able to fix(hence their centralised services as workarounds) you will soon learn why others started other subnetworks and tried different things, rather then putting up with the "be patient" hopes and empty promises garbage for many years

i know it might be tough for you, to go against the grain and research things outside of the groupspeak of blind adoration of certain things.. but try

personally i see the subnetworks as NICHES for small utility of a subgroup of users and not something everyone should move to, to avoid bitcoin..
all i stated is that there are more subnetworks than just LN.. and many with more liquidity because you seem to be reciting the dumb mantra that LN is THE subnetwork..
time to wake up and challenge yourself to not sound like a muppet in 2024.. are you ready to try
please try in 2024 to escape from reciting the troll buzzwords which you have admitted to not fully even knowing. it has not helped your cause. you end up just sounding like a mindless echo of snake oil salesmen that didnt meet their sales quota

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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December 21, 2023, 04:15:34 PM
 #742

YOU are the one mentioning shitcoins.. if you dont know the difference between mainnet coins vs subnetworks.. thats on you. and something you should spend some time on
grow up and look outside the group and realise there are more subnetwork bridges to bitcoin and for emphasis im not talking about shitcoins
(little hint mainnets like bitcoin altcoin and shitcoin use blockchains. subnetwork bridges dont)
(bridges that use a blockchain are called sidechains)

when you realise that even LN devs admit to flaws they wont be able to fix(hence their centralised services as workarounds) you will soon learn why others started other subnetworks and tried different things, rather then putting up with the "be patient" hopes and empty promises garbage for many years

i know it might be tough for you, to go against the grain and research things outside of the groupspeak of blind adoration of certain things.. but try

personally i see the subnetworks as NICHES for small utility of a subgroup of users and not something everyone should move to, to avoid bitcoin..
all i stated is that there are more subnetworks than just LN.. and many with more liquidity because you seem to be reciting the dumb mantra that LN is THE subnetwork..
time to wake up and challenge yourself to not sound like a muppet in 2024.. are you ready to try
please try in 2024 to escape from reciting the troll buzzwords which you have admitted to not fully even knowing. it has not helped your cause. you end up just sounding like a mindless echo of snake oil salesmen that didnt meet their sales quota

Oh gawd you are such a patronizing twat, which makes you so adorable.   Wink

1) Self-Custody is a right.  There is no such thing as "non-custodial" or "un-hosted."  2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized.  3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
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December 21, 2023, 06:57:05 PM
 #743

https://sbtc.tech/

i think this is what franky is talking about
JayJuanGee
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December 21, 2023, 08:02:04 PM
 #744

https://sbtc.tech/

i think this is what franky is talking about

Thanks, and at least you can get some insight into Franky's presentation style, and sure there could be some ways that other things are being "built" on and around bitcoin, but instead Franky chooses to be coy about the matter (so that someone like me, and perhaps even you too have to guess) rather than his choosing to be straight-forward in regards to what he is talking about and how what he talks about might relate to this thread rather than some other thread... since this is not the "all things to fix" (or unbreak) bitcoin thread.

1) Self-Custody is a right.  There is no such thing as "non-custodial" or "un-hosted."  2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized.  3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
franky1
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December 21, 2023, 08:24:11 PM
Last edit: December 21, 2023, 09:43:34 PM by franky1
 #745

Oh gawd you are such a patronizing twat, which makes you so adorable.   Wink

well ass kissing didnt get you far.. and there are far too many ass kissers telling you empty promises, so maybe you need a refreshing prospective to wake you from the fluffy utopian dream adverts..

remember this version of you, and notice the issue (not verbatim, but summarised)
"i dont like custodial wallets so for the last few months i have been using 3 custodian wallets advertised to me"
"i was told fee's were sub-penny amounts and instant. but ive experienced expensive fee's moving funds from wallet to wallet that needed 24hours to close one wallet and needing to move funds again and get possession of funds to then move again to open new wallet costing me more then a few dollars"

just be honest TO YOURSELF about your real experiences. not what you think you should say to make other people happy.

by the way
idiots doing the childish mantra of "here's a utopian dream to believe in, father christmas is real, LN is the solution, be a good boy, kiss devs ass and your dreams will come true" is far more patronising then being told the harsh truth


https://sbtc.tech/

i think this is what franky is talking about

Thanks, and at least you can get some insight into Franky's presentation style, and sure there could be some ways that other things are being "built" on and around bitcoin, but instead Franky chooses to be coy about the matter (so that someone like me, and perhaps even you too have to guess) rather than his choosing to be straight-forward in regards to what he is talking about and how what he talks about might relate to this thread rather than some other thread... since this is not the "all things to fix" (or unbreak) bitcoin thread.

firstly.. there are many projects

secondly no i was not presenting any single project. (unlike your preference to be advertised to)

thirdly, you dont need to guess.. google is your friend. you can do research and find answers without guessing. thats how research works

i know you want to be promoted to, advertised to and handed the cheat sheet. but thats not how the real world works.
because so far the cheat sheets and promotional material handed to you have not helped you thus far

...
it also has not gone unnoticed how you have been TOO determined to just go in circles wanting to talk about "franky's personality" while avoiding the LN flaws conversation.. your not the first to try this tactic to avoid admitting your own negative experiences of the utopian dream you were promised

..
one last fact about me, seeing as you prefer to talk about 'franky personality'

i am not your mother. it is not my job to hug you and spoonfeed you. i know you have experienced forum daddies teaching you bad ways and telling you which toys to play with. but i am not your mother.
so take responsibility of your own learning and progress

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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December 22, 2023, 10:25:47 AM
 #746

It's worth noting that the field of blockchain and cryptocurrency evolves rapidly, and new tools and services may have emerged since my last update. If you're specifically looking for the latest information on Lightning Network Observers, I recommend checking recent sources and community forums for the most up-to-date information.





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December 22, 2023, 07:38:35 PM
Merited by JayJuanGee (1)
 #747

here is a fun fact that will get your braincells tingling.. the way breez works is THEY set up channels to credit you with an allotment of balance. which THEY control(its called inbound balance)... it was never your channel

This is incorrect.

Lightning channels are a smart contract between two entities.

If JJG and I both run lightning nodes and I open a channel to him in the traditional way where all the liquidity in the channel starts on my side, then we BOTH own that channel until it is closed.  And I have given incoming liquidity to JJG.  And when someone makes a payment to him and it uses our channel then some of that value is distributed to his side.  At the same time in the background one of MY channels gained that same liquidity (plus a fee).

So in this example I have not changed my total balance (aside from the teeny fee) but just shifted it around a little cryptographically.

JJG on the other hand has GAINED BTC while the sender has reduced his own total balance.

THAT is all Breez is doing.

You phone runs a full node (Neutrino).  And when Breeze opens the channel to you eventually when you settle whatever balance moved over to you ends up on a BTC address you control.

Of course the bitcoin in THAT channel is not yours right away.  Not until someone makes a payment!

It's simple franky.  I do not know why you can't see it.
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December 22, 2023, 07:52:15 PM
 #748


It's worth noting that the field of blockchain and cryptocurrency evolves rapidly, and new tools and services may have emerged since my last update. If you're specifically looking for the latest information on Lightning Network Observers, I recommend checking recent sources and community forums for the most up-to-date information.


Ignored this spammer...
JayJuanGee
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December 22, 2023, 08:08:49 PM
Merited by cAPSLOCK (1)
 #749

Oh gawd you are such a patronizing twat, which makes you so adorable.   Wink
well ass kissing didnt get you far..

Surely you are presuming a lot.

and there are far too many ass kissers telling you empty promises, so maybe you need a refreshing prospective to wake you from the fluffy utopian dream adverts..

For some reason, I don't even perceive myself as having any real and/or meaningful problem, as you seem to be projecting such a status upon me.

remember this version of you, and notice the issue (not verbatim, but summarised)
"i dont like custodial wallets so for the last few months i have been using 3 custodian wallets advertised to me"

You seem to be referring to my lightning wallet usage on Bluewallet, Phoenix and Breez.  I researched and found those to be something that I was willing to try out, and surely I rejected several others and a few times, I wrote some posts regarding in the times that I was going through my decision-making process around setting them up.. the first time was around mid to late 2022 when I ended up getting started with Bluewallet, and then the second time was around February/March 2023, when I ended up setting up Breez and Phoenix (which came after Bluewallet had communicated that they were no longer going to custody their customers coins - meaning that Bluewallet was gong to able to use their lightning wallet features by channeling through your own node or a known node that was not Bluewallet's)..

Yes, I prefer non-custodial, but if there are some custodial aspects in terms of some of the wallet choices (or services) that I might end up making, and that might be the closest that is available for my circumstances, then I will go with the closest available until maybe some other reasonable and/or feasible option might come about.   I am not do or die stuck upon one way of looking at the matter, and sometimes there are going to need to be trade-offs, especially if some of the technologies and practices are still in early stages of development.. which still seems to be the case with lightning network, even though it has been live nearly 7 years now...and yeah some of the recent bug findings in lightning network, maybe from a few months ago, are still trying to be figured out if there is any way to resolve them.. and sure it could be ongoingly problematic if the recently discovered bugs cannot be resolved (and/or work-arounds cannot be made).

It seems to me that there is ONLY so much that any user of these systems, including yours truly, might be ready, willing, and/or able to do in terms of learning how to run a node or even some of the other technical learnings that might be needed (or due diligence) and to actually follow through with such, even though that might be something like running a node could be something that I could end up considering at some point.. perhaps? perhaps?  But at this point, it might even be questionable how much lightning network is going to continue to operate if there might not be work-arounds for some of the latest bugs.. at least from my understanding about some of the current difficulties and/or questions that exits.

In any event, currently, I am mostly continuing with Phoenix, and maybe I will re-fund my Breez channel at some point in the future.. right now they are charging 25,000 sats plus 1% for any of the initial channel creations, which seems to be quite a bit higher than when I originally had created the earlier channel that got closed on me.

"i was told fee's were sub-penny amounts and instant. but ive experienced expensive fee's moving funds from wallet to wallet that needed 24hours to close one wallet and needing to move funds again and get possession of funds to then move again to open new wallet costing me more then a few dollars"

Sure, that might be more or less a fair rendition.  It seems that if a person has an established lightning channel, then it might not be very expensive to make quite a few transactions, but then if there are force or surprised closings, then that could end up costing way more, and then I had heard that there had been quite a few fees in channel management over the years too, but I am not going to suggest that these were any kinds deliberate attempts to scam anyone, but instead deliberate attempts to engage in various open-sourced and decentralized ways to try to get this somewhat decentralized system to work as a second layer to bitcoin.. so yeah, maybe it is ending with less and less success and maybe even difficulties finding a path forward if there might be irresolvable technical issues (bugs) that have been found to exist.

just be honest TO YOURSELF about your real experiences. not what you think you should say to make other people happy.

Who said that I am not being honest to myself?  Besides you?  I had really ONLY recently begun to try to use Lightning network wallets, and I am not trying to persuade anyone to do anything, even though I had helped some people to get set up with various kinds of wallets that I was using (lightning network wallets), and then I also had done a few lightning network transactions.. not very many but a few.

by the way
idiots doing the childish mantra of "here's a utopian dream to believe in, father christmas is real, LN is the solution, be a good boy, kiss devs ass and your dreams will come true" is far more patronising then being told the harsh truth

What is the harsh truth?  Frankie was right all along?  Is that what you are trying to say?  Are you trying to say that you knew LN was not going to work and you knew about the bug?

We don't really seem to be getting anywhere with your seeming to just want to deal with black an white which would include you as the good guy and the one who is right about everything.. that just does not seem to be very helpful... Maybe it makes you feel good to be interacting with other people in those kinds of ways?

https://sbtc.tech/
i think this is what franky is talking about
Thanks, and at least you can get some insight into Franky's presentation style, and sure there could be some ways that other things are being "built" on and around bitcoin, but instead Franky chooses to be coy about the matter (so that someone like me, and perhaps even you too have to guess) rather than his choosing to be straight-forward in regards to what he is talking about and how what he talks about might relate to this thread rather than some other thread... since this is not the "all things to fix" (or unbreak) bitcoin thread.
firstly.. there are many projects

Of course, you don't want to provide links because you think that people should figure things out for themselves, and yeah, I still would question whether whatever that you are even referring to is related to this thread or not? and your failure/refusal to either provide a thread or some kinds of specifics, causes me to conclude that it probably is not sufficiently related and/or even worth looking into further.

secondly no i was not presenting any single project. (unlike your preference to be advertised to)

Not sure what this means.. except that I am both a advertiser and I like to be advertised to by the various incorrect talking points and you are not going to participate in this except to just be critical of any actions that any forum members taking as not doing enough research, but making their decisions based on superficial ads and then luring in other forum members with such superficial talking points.. supposedly that is what we are doing, from your perspective, when we participate in various lighting network discussions.

thirdly, you dont need to guess.. google is your friend. you can do research and find answers without guessing. thats how research works

No problem.  When I am ready to look into some of the amorphous matters that you are talking about, then I will try to figure it out.  I am sure, if you are so in-touch with the latest happenings, then some of these matters will come to light, even if you do not specifically point anyone to any specific place to look.

i know you want to be promoted to, advertised to and handed the cheat sheet. but thats not how the real world works.
because so far the cheat sheets and promotional material handed to you have not helped you thus far

Again.  You are assuming various problems?  Why?  You want to say I told you so about something?

...it also has not gone unnoticed how you have been TOO determined to just go in circles wanting to talk about "franky's personality" while avoiding the LN flaws conversation.. your not the first to try this tactic to avoid admitting your own negative experiences of the utopian dream you were promised..

I guess you got me figured out.

one last fact about me, seeing as you prefer to talk about 'franky personality'

i am not your mother. it is not my job to hug you and spoonfeed you. i know you have experienced forum daddies teaching you bad ways and telling you which toys to play with. but i am not your mother.  so take responsibility of your own learning and progress

Ok.  I will try to take more responsibility for myself and for my actions from here on out.  

By the way, Wen LN replacement?

1) Self-Custody is a right.  There is no such thing as "non-custodial" or "un-hosted."  2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized.  3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
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December 23, 2023, 03:02:21 AM
Last edit: December 23, 2023, 03:23:53 AM by franky1
 #750

Lightning channels are a smart contract between two entities.
your saying buzzwords without understanding functionality.. those IOU's(weak contracts) are not as smart as buzzworded.. and thats the sham.. they pretend LN is better then it actually is


If JJG and I both run lightning nodes and I open a channel to him in the traditional way where all the liquidity in the channel starts on my side, then we BOTH own that channel until it is closed.  And I have given incoming liquidity to JJG.  And when someone makes a payment to him and it uses our channel then some of that value is distributed to his side.  At the same time in the background one of MY channels gained that same liquidity (plus a fee).

So in this example I have not changed my total balance (aside from the teeny fee) but just shifted it around a little cryptographically.

JJG on the other hand has GAINED BTC while the sender has reduced his own total balance.

THAT is all Breez is doing.

you have not "given" him btc. he has not "gained" btc
the funds are still locked in YOUR funding utxo of keys YOU own. where the channel then has a UNCONFIRMED, UNSETTLED tx template showing a output where JJG MIGHT get btc in the future when you both mutually close.. but until then he does not have BTC
 
inside LN YOU still own the coin. its not his coin on the blockchain. its still YOURS
you are 'crediting' him with a IOU of future settlement. but you have not given him BTC yet

its the same as CEX custodians, he might see a balance of value owed.. but if its not in a UTXO he has key control of.. its not his
#not-your-key-not-your-coin

thats why we tell people to withdraw and gain control of value owed

also LN has many flaws that do not guarantee the recipient will ever get the inbound owed balance..
LN devs admit it, its why they then use work arounds of then needing centralised watchtowers and hubs and stuff..
but even those have flaws.. flaws building on flaws, still not resolving the underlying issue

oh by the way breez also opens channel and credits users with inbound balance without needing a X confirm funding locked value utxo
which is another flaw

learn the problems when services say they can give instant inbound balance. it means they are not locking value to their partners keys

when LN stopped their initial plans of co-funding a multisig(2-of 2, both partners own and control) and then both needing mutual sign off.. more LN flaws appeared



Of course, you don't want to provide links because you think that people should figure things out for themselves, and yeah, I still would question whether whatever that you are even referring to is related to this thread or not? and your failure/refusal to either provide a thread or some kinds of specifics, causes me to conclude that it probably is not sufficiently related and/or even worth looking into further.

rather then you posting a message asking to be hugged and spoonfed.. and waiting hours for a response. you could simply spend 30 seconds on google and find the answers yourself

i am not your mother. i do not need to spoonfeed you or hug you.

if you actually want to learn. GO LEARN

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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December 23, 2023, 06:36:06 PM
Last edit: December 23, 2023, 06:46:39 PM by AirtelBuzz
 #751

Singing Christmas trees and lightning bitcoin payments? A blend of technology miracles and Christmas magic!🎄 Christmas tree activated by composing music by paying through the #Bitcoin Lightning network.




picture X


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December 24, 2023, 12:55:56 AM
Merited by JayJuanGee (3), DooMAD (2)
 #752


your saying buzzwords without understanding functionality.. those IOU's(weak contracts) are not as smart as buzzworded.. and thats the sham.. they pretend LN is better then it actually is


You're and than.  And you are wrong. I understand the functionality quite well.

you have not "given" him btc. he has not "gained" btc
the funds are still locked in YOUR funding utxo of keys YOU own. where the channel then has a UNCONFIRMED, UNSETTLED tx template showing a output where JJG MIGHT get btc in the future when you both mutually close.. but until then he does not have BTC
 
inside LN YOU still own the coin. its not his coin on the blockchain. its still YOURS
you are 'crediting' him with a IOU of future settlement. but you have not given him BTC yet


You are 100% WRONG.  You are exposing a deep misunderstand of how lightning works.

When I open a channel to JJG's node both MY node, and HIS enter into a transaction. In my original example I send ALL the sats but we BOTH hold keys to the HTLC (Hashed timelock contract).  Under normal circumstances we both keep records of the transactions inside that channel.  These are the IOUs you refer to.  But to disprove your point that I would own the keys and the bitcoin on the blockchain let's consider a hypothetical.  Let's say I open that channel, and I die, and my node burns up in a fire.  All the value is mine in that channel, and if JJG decided to force close the channel all the value would go to an address that I alone hold the private key for (though I am now dead... I do not like this story a lot).

BUT!  And if you want to point to something more like a flaw in the LN then you could start here.

If JJG KNEW I was dead and my node was unrecoverable then he could broadcast the FC while claiming the sats in that channel all belonged to him.  And unless a watchtower got involved his node would execute what it is designed to do which would be to send all the sats in the channel to an address only he controls.

So your assertion that the sats were "mine on the blockchain" is just wrong.  We both share the channel and have rights and recourse to recover the correct amount of sats to our respective addresses, and even if none were his there are ways he could simply take them all.

Perhaps you will reject my above proof that you are wrong, but even if you did not I am sure you are salivating and ready to point to the above and say "Aha!  See?  the LN sucks and people can steal from each other".

Here's the crazy thing.  You call me a fanatic promoting a sham.  But I am not.  I think the lightning network is overly convoluted, and has some serious problems.  In fact, I do not personally believe that the LN will be the final way Bitcoin is transacted between parties with low fees.

The lightning network is not suited for average individuals.  One must be fairly technical to use it, or use a compromise solution like WoS.  But I have said for a long time that technology will find a way.

And today... three years later after that post,  I think I have a better view on how that is unfolding.

And I am sorry to disappoint you but the lightning network will remain an integral part of it.

Frankly (lol) I think the lightning network is just one or two steps too convoluted for it to be the final stop on the bus of cheap transactions.  Yes it CAN work, and it does.  Quite well, in fact.  But things like the necessity of having a node ONLINE to receive payments and the fact it is a hot wallet on the internet mean that average Joe might not be able to really handle the responsibility of using it for payments in a non-custodial fashion.

But the fact remains that the LN is a trust minimized cryptographic method for multiple entities to move value.  And it has been battle tested and hardened now for 4+ years.

What I see happening at this point is the LN is becoming an intermediate step at first, and then a POWERFUL tool as it matures for transmitting value.

Strike is a perfect example of a use case that the designers of it saw WAAAAY before the rest of us.  And before you start flailing and talking about custodial blah blah I would encourage you to stop thinking in black and white and only one level ahead.  Strike uses the LN to facilitate the movement of money all over the globe for as close to free as you can possibly get.  Strike is not a lightning wallet, or a LSP or any other level one thing.  Strike is a centralized business that is taking advantage of the LN to be able to move significant value anywhere an in practice instantly.  They are a money transmitter.  and instead of going through the old ways of doing that they are bypassing all the trouble by using the LN.

Strike is NOT LN.  It is NOT decentralized.  It is NOT a lot of things we bitcoinners hold as central.  It is a business.  A business that uses the lightning network to bypass ENORMOUS amounts of friction that exists in the traditional rails of finance.  And at it's heart it uses BITCOIN to do this.

It would be a good use of terminology to call Strike a "layer three" technology.  And just because strike is a centralized "layer three" does not mean all of them will have to be.

We are going to see the following over the next Bitcoin Epoch:

Multiple decentralized, trust minimized methods for moving value emerging.

--Chaumian mints in things like e-cash and cashu and the like.
--Multiple implementations of the Elements code base like Liquid.
----These will become interoperable with each other on some level.
----They will also use the LN and implementation of the LN on their own layers to do settlement and interoperability.

Then you have other sidechain, drivechains, and more emerging as we sit here arguing over one of the core technologies that will make it all work. Smiley

And of course, technology only dreamed of may emerge that obsoletes many of the above rails INCLUDING the LN while retaining or even improving the trust models and decentralization.

AI may even find a place in all this.  I could see it working to improve lightning insofar as channel balancing and functions like watchtowers for example.

Franky you are still stuck on level one.

Bitcoin at the base of all these technologies is absolutely essential.  It IS the killer app.  It IS the part of all this we could not do ANY of it without.  And it MUST remain maximally decentralized and minimally trust based.  And all the tech we build on top of it can make as many tradeoffs as we could dream of.

The lightning network trades complexity, and the need to be online for a way to provide INSTANT and IRREVERSIBLE settlement of satoshis.

Stop fighting it, you fool.

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December 24, 2023, 02:29:57 AM
Last edit: December 24, 2023, 03:16:52 AM by franky1
 #753


your saying buzzwords without understanding functionality.. those IOU's(weak contracts) are not as smart as buzzworded.. and thats the sham.. they pretend LN is better then it actually is


You're and than.  And you are wrong. I understand the functionality quite well.

you have not "given" him btc. he has not "gained" btc
the funds are still locked in YOUR funding utxo of keys YOU own. where the channel then has a UNCONFIRMED, UNSETTLED tx template showing a output where JJG MIGHT get btc in the future when you both mutually close.. but until then he does not have BTC
 
inside LN YOU still own the coin. its not his coin on the blockchain. its still YOURS
you are 'crediting' him with a IOU of future settlement. but you have not given him BTC yet


You are 100% WRONG.  You are exposing a deep misunderstand of how lightning works.

When I open a channel to JJG's node both MY node, and HIS enter into a transaction. In my original example I send ALL the sats but we BOTH hold keys to the HTLC (Hashed timelock contract).  Under normal circumstances we both keep records of the transactions inside that channel.  These are the IOUs you refer to.  But to disprove your point that I would own the keys and the bitcoin on the blockchain let's consider a hypothetical.  Let's say I open that channel, and I die, and my node burns up in a fire.  All the value is mine in that channel,

the very original concept of LN was that before opening a channel both parties would agree on a key set and create a multisig and both fund that same multisig address to both have mutual control of funds... that concept didnt last long

now when you open a channel you lock your value to keys YOU own and assign some of your value to a key (future) destined to JJG..
if he also opens up some value on his side to then give you inbound balance he has his own value with some assigned to your key(yet to be settled).. this would be a bi-directional channel with 2 funding locks one for each of you..
but if only you open and channel to JJG its just YOUR utxo value lock.. IOUing JJG
..

funny thing is, you are arguing.. yet proving my point. the value is still locked on your side.. whilst you are alive and JJG has not closed o you
yes he keeps a signed copy of a UNCONFIRMED transaction(thus an iou).. but he does not have the value yet. he just has a copy of a yet to be confirmed transaction.. (emphasising again thus IOU)

after you die. much like withdrawing from a CEX ... by having a transaction broadcast onto the bitcoin network. THEN he has the chance to get btc.. but until then. he doesnt have btc

learn inbound.. it means something is coming yet not arrived to its destination.. it is not JJG yet
..
Strike is a perfect example of a use case that the designers of it saw WAAAAY before the rest of us.  And before you start flailing and talking about custodial blah blah I would encourage you to stop thinking in black and white and only one level ahead.  Strike uses the LN to facilitate the movement of money all over the globe for as close to free as you can possibly get.
and then you want to talk about strike
strike(jack mallers) scammed the el salvador leader into using LN as the backbone of chivo wallet  in summer 2021..got it set up by autumn.. but by christmas 2021 el salvador leader got pissed off with strikes antics and ditched it.. many el salvadorian citizens got very annoyed by the broken promises, all broken due to the LN experiment thrust on el salvador under the pretence of saying "sending bitcoin".. they learned very quick that this was a lie.

heck even strike had to change its business model due the el salvador failure

..
if you think LN is going to become the super highway where all subnetwork bridges converge. you are only fooling yourself

if you realise why so many dev teams have tried LN, seen it fail and decided to make other subnetwork bridges. you will soon see why they will avoid using LN as the intersection of their subnetwork bridge

pretending LN is trust minimised is a lie

the promise 6 years ago of trust minimised never flourished. infact all tests for first 4 years didnt battle harden LN, it instead realised it couldnt work well under trust minimised concept.. and they changed LN's business model to need hubs, factories, watchtowers, custodians even more.. meaning more trust is needed. not less
...
nice try to positive spin LN flaws like using sham buzzwords such as "battle hardened" but by spinning it you have actually proven that it has weakened not hardened

. you sound like a great comedian but not a great sales pitcher.. you made me laugh

if you think that LN is instant and irreversible settlement of satoshis. you are not talking about LN
LN doesnt settle irreversibly.. thats what the bitcoin network does after/when exiting LN

i did laugh the most when you used strike as an example..
its funny how much you are making the failure points for me, while pretending to be a LN adoring saleman trying to promote LN

you should try comedy

your sales pitch was the equivelent to saying CEX are trust minimised services that use irreversible settlements.. when reality is the settlement are withdrawals to escape and move away from CEX service. to then confirm value on the bitcoin network
withdrawing from a CEX is not a feature of proving CEX is non-custody.. its actually the case people need to withdraw/settle to get out of a services custody, because whilst in CEX/LN the funds are not the promised recipients(yet)

by you even thinking whilst in LN recipients get instant irreversible settled value.  shows you have alot more to learn

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
fillippone (OP)
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December 27, 2023, 03:23:30 PM
Merited by JayJuanGee (1)
 #754

On an Italian Bitcoin chat someone higlhited this proposal from an Italian drveloper:

SCIDADDRESS

https://gist.github.com/araspitzu/415876f8bffd90a9d7d6b46a41b8914c

Quote

SCIDADDRESS is a draft specification of a short, reusable and permanent address to be used with the Lightning Network nodes and wallets.

The new address format represents a directed short channel id and has the following syntax:

[sign][SCID]@[sign][SCID]

+693x1x0 (simple format)

+693x1x0@ (extended format with short route hint)

+693x1x0@-634x61x1 (extended format with full route hint)


What do you think guys of this idea?

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cAPSLOCK
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December 28, 2023, 03:21:56 AM
 #755

On an Italian Bitcoin chat someone higlhited this proposal from an Italian drveloper:

SCIDADDRESS

https://gist.github.com/araspitzu/415876f8bffd90a9d7d6b46a41b8914c

Quote

SCIDADDRESS is a draft specification of a short, reusable and permanent address to be used with the Lightning Network nodes and wallets.

The new address format represents a directed short channel id and has the following syntax:

[sign][SCID]@[sign][SCID]

+693x1x0 (simple format)

+693x1x0@ (extended format with short route hint)

+693x1x0@-634x61x1 (extended format with full route hint)


What do you think guys of this idea?

At a glance it seems like it would work as a sort of shorthand for a keysend payment.  But if I understand it correctly it would only really receive a payment to a specific channel?  That could be somewhat limiting unless you had a channel with giant liquidity on the partner side.
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January 08, 2024, 04:10:32 PM
 #756

happy lightning pay day Grin

because on january 8, 2018, the first 'real payment' took place in the lightning network. at that time, a user paid for a vpn subscription at TorGuard
the vpn provider was the first service to accept lightning payments and since everything was still reckless and untested, TorGuard even agreed to reimburse the costs for lost any satoshi

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monosat99
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January 08, 2024, 04:29:17 PM
Merited by DooMAD (2)
 #757

On an Italian Bitcoin chat someone higlhited this proposal from an Italian drveloper:

SCIDADDRESS

https://gist.github.com/araspitzu/415876f8bffd90a9d7d6b46a41b8914c

Quote

SCIDADDRESS is a draft specification of a short, reusable and permanent address to be used with the Lightning Network nodes and wallets.

The new address format represents a directed short channel id and has the following syntax:

[sign][SCID]@[sign][SCID]

+693x1x0 (simple format)

+693x1x0@ (extended format with short route hint)

+693x1x0@-634x61x1 (extended format with full route hint)


What do you think guys of this idea?

At a glance it seems like it would work as a sort of shorthand for a keysend payment.  But if I understand it correctly it would only really receive a payment to a specific channel?  That could be somewhat limiting unless you had a channel with giant liquidity on the partner side.

Hey, author of the proposal here. Indeed the SCIDADDRESS requires the use of keysend payments but you don't have to receive to a specific channel. Keysend is a "send-to-key" payment where key is the node-id of the recipient, SCIDADDRESS is a simple translation system for node-ids.

 
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March 10, 2024, 11:38:41 PM
 #758

Jack Mallers sends a message to all LN critics.

Sorry, the tweet is from an Italian account and has Italian subtitles, but the audio is in English.
I wasn't able to find a "clean" version.




As usual, despite having that random appearance, Jack Miller is actually very incisive when describing the LN.


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franky1
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March 10, 2024, 11:57:12 PM
 #759

not harsh on expectations.. when we have guys like mellor and other LN people who dont know better exaggerating expectations upfront and then everyone realises when using it that it doesnt meet expectations/promises, dont then double down by blaming the critics for pointing out the failures

even el salvador dropped LN within 3 months of using it and being told it was bitcoin... LN is not bitcoin (sorry mellor LN is a separate network and bitcoin never leaves the bitcoin network)

..
emphasis
if your going to over-promise/set dreamed-up utopian expectations of something(aka LIE) dont then blame the critics for pointing out the lies..

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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March 11, 2024, 12:39:09 AM
Merited by fillippone (3)
 #760

not harsh on expectations.. when we have guys like mellor and other LN people who dont know better exaggerating expectations upfront and then everyone realises when using it that it doesnt meet expectations/promises, dont then double down by blaming the critics for pointing out the failures

even el salvador dropped LN within 3 months of using it and being told it was bitcoin... LN is not bitcoin (sorry mellor LN is a separate network and bitcoin never leaves the bitcoin network)..
emphasis
if your going to over-promise/set dreamed-up utopian expectations of something(aka LIE) dont then blame the critics for pointing out the lies..

I watched the video too, Franky.

Mallers seemed to say the exact opposite of what you are criticizing him for, or maybe to rephrase that Mallers said that if you can recognize and appreciate that the lightning network was able to transfer from some currency and then put that currency into bitcoin and then transfer to another part of the world into to transfer into another currency without any hardly any costs, then that is an achievement that seems quite powerful that had not previously been achieved...

So in that regard, you (Franky) seem to be a person who is putting your own expectations on the LN, and yeah we all know that LN is not the same as base layer bitcoin, but it also has abilities to peg in and out of bitcoin without creating new coins. and yeah there are seeming to be ongoing glitches, but the LN is still serving purposes for some people who are transacting in bitcoin (pegged to bitcoin) in ways that they might not be able to achieve on the base layer - depending on when the transactions are done.

I hate to even ask you any questions about your solutions, yet many of us can see that LN is complementing bitcoin in various transactional ways...and yeah maybe sometimes it would be better to send transactions on chain..

I am pretty sure that LN is still being used in a lot of places in El Salvador, yet at the same time, I understand that there are a lot of third-party custodial wallets there.  However, if I were to go to El Salvador with my Phoenix wallet and/or my Aqua Wallet (or perhaps my Breez wallet that currently is not charged with any balance), I am pretty sure that I would be able to transact with several El Salvador persons and/or vendors to provide goods and/or services with the lightning network, or even I forgot that I have cash app too, which uses lightning (although surely Cash App is way more third-party custodial than the other ones I mentioned that I have).   We might need to see some kind of source if you are proclaiming that LN doesn't work in El Salvador anymore... ..and some of what is being used in any particular location will not only have to do with the infrastructure that is at that location, but also what individuals, institutions and/or governments might choose to use, so if we go there, there may be some variance and also just individualized choices about whether some of them are using third-party custodial wallets or if they are using self-custodial wallets.

1) Self-Custody is a right.  There is no such thing as "non-custodial" or "un-hosted."  2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized.  3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
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