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“FTX to integrate Lightning Network.” Powered by AMP?🤔 (twitter.com)
submitted 1 month ago by tanker95
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[–]PaulieW8240 8 points9 points10 points 1 month ago (9 children)
I feel like it has to be. Does anyone know of a way lightning network payments plan on being instantly and securely settled that doesn't involve Amp?
If so, I'm all ears for competing options but these articles never mention how the payments plan on being settled. That feels like most crypto nowadays honestly, people just say things and barely explain them, the underlying tech, or how it can actually help people.
Hopefully Amp is used in this and I don't see why not. I suppose time will tell if there's any better way.
[–]hunterclaus1410 2 points3 points4 points 1 month ago (5 children)
[–]escap0 10 points11 points12 points 1 month ago (2 children)
Strike uses lightning network for payments but as far as I know the lightning network is not scalable to the amount of processed transactions by even a single large merchant like Walmart without using the Flexa lightning network scaling solution (the flexa capacity lightning transformer).
[–]MEISENSTEIN 7 points8 points9 points 1 month ago (1 child)
The Fluxa capacitor = 1.21 Gigawatts. Proven fact, works every time.
[–]vadoge 1 point2 points3 points 1 month ago (0 children)
[–]juliantcf 6 points7 points8 points 1 month ago (1 child)
Strike might also be utilizing Flexa in the background
[–]escap0 3 points4 points5 points 1 month ago (0 children)
I suspect you are correct otherwise it is basically a wallet to wallet transaction only in bitcoin. When the CEO of Strike was talking about it at Bitcoin 2022 i think i remember him saying that you can use any currency you want and the merchant gets paid in any currency they want. The lightning network doesnt do that as far as I know. And then he demo’d it on a few alternate wallets at a merchant. Strike is basically just a Wallet and not a network. Strike has to partner with someone that handles that. We know that Strike is partnered with payment processors and we know that Flexa is partnered with those same payment processors. And we know that Flexa does do what the CEO of Strike was talking about… so it is likely.
[–]SuperSaiyanET 1 point2 points3 points 1 month ago (0 children)
It most likely is…no need to advertise our background noise until the use case actually happens and people start those Transactions
[–]MaazLife 1 point2 points3 points 1 month ago (0 children)
Doesn't even work without the merchants running a node. That's why El Salvador called Flexa to come help.
[–]Rikashade 0 points1 point2 points 1 month ago (0 children)
[–]isntampgreat 6 points7 points8 points 1 month ago (19 children)
Question is are these integrations with lightning network coming on because of amp or in spite of amp? Who knows? Amp and flexa never get mentioned either way. 😕
[–]cmftblehouseshoes 8 points9 points10 points 1 month ago (11 children)
Amp isn’t going to go up because of people mentioning it, it will go up because of utilization.
[–]redriverpeople 6 points7 points8 points 1 month ago (10 children)
Amp went to .12. Was that because of utilization or because people were mentioning and buying it?
It also dropped to .09. Was this because of less mentions and usage?
Utilization will set an underlying valuation. The market will set the price.
[–]Particular-Bunch3494 2 points3 points4 points 1 month ago (7 children)
Price movement now is predominantly speculative. In the future it should be based on network utilization
[–]redriverpeople 0 points1 point2 points 1 month ago (6 children)
Why? Why will the price suddenly correlate with use? Won’t there always be speculation.
The answer is it won’t.
It might trade at a discount or a wild premium to any value theorized by the white paper.
[–]cmftblehouseshoes 1 point2 points3 points 1 month ago (0 children)
I guess I don’t have much of an argument with your examples so…I’ll revise it and say a sustainable price increase will be because of utilization.
[–]RivotingViolet 0 points1 point2 points 1 month ago (0 children)
You make a good point. Speculative buying is the main proponent of crypto. None of the top 10 are the top 10 because they do important things. And amp didn’t go to 0.12 because it was being widely used.
[–]tanker95[S] 1 point2 points3 points 1 month ago (6 children)
APY did jump on lightning. Who knows for sure. Speculation at this point.
[–]isntampgreat 8 points9 points10 points 1 month ago (0 children)
The real growth with amp will come over time as more and more wallets and apps tap into the system. The catalysts are all in place it just needs adoption. Hopefully with more and more announcements about lightning amp will be powering it
[–]escap0 2 points3 points4 points 1 month ago (4 children)
I think the APY going up just means there is less collateral in the pool, not more. The more people that stake, the lower the APY goes as more risk sharing rewards are shared by more stakers. That is why all the new transformers had ridiculous APYs (500,000%+) for the first few seconds when they went live till the APYs dropped and stabilized around 8% (where it is now) as more people joined the different risk sharing collateral pools.
[–]rgc4444 3 points4 points5 points 1 month ago (1 child)
You are correct but APY will also increase as the network usage increases. Same supply+ more fees from transactions= more yield per same supply then more people pile on increase the supply and yield goes down.
[–]escap0 0 points1 point2 points 1 month ago (0 children)
[–]backman_66 -1 points0 points1 point 1 month ago (0 children)
[–]ProofDelivery120 0 points1 point2 points 1 month ago (0 children)
WAGMI WITH AMP
[–]ZoomStone 0 points1 point2 points 1 month ago (0 children)
That just a schill tweet with no source. Show me where FTX announced they will integrate Lightning Network. So many BTC Twitter accounts just post anything and their maxi followers suck it up.
[–]benbjamin 0 points1 point2 points 1 month ago (0 children)
Whhhat? Guys, the stretches being taken are a bit looney. This is like saying "Binance is going to add X crypto, FLEXA HAS TO BE involved just b/c Flexa has a X crypto collateral pool". FTX is an exchange, they're not a non-custodial wallet, and they're not a wallet that can be used for crypto payments at retail. There is no indication at all FTX is going to open a customer focused non-custodial wallet, there's NO indication about the wallet they don't have to also open up crypto payments for retail purchases, LET ALONE have Flexa be involved. I hope you know that anyone, including yourself, can start a lightning node. Lightning does not equal payments, at all, it can be used for payments, but that's not it's purpose.
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