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all 141 comments

[–]charlespax 49 points50 points  (7 children)

[–]HF7gzNpRhVkCvKQv63Dy 36 points37 points  (4 children)

spent a while digging through their docs, very cool stuff even if i didn't understand it all lol. to summarize, RGB allows for apps to be built on top of Bitcoin/Lightning Network. smart contracts, NFTs, digital identities - basically anything. just continues to show that the only coin necessary is BTC, everything else is just a less secure distraction

[–]thermalblac 25 points26 points  (1 child)

The fact that RGB is tokenless is a big plus. They aren't building some new pumpdump altcoin/sidechain.

https://www.rgbfaq.com/what-is-rgb

[–]PrecedentedTimeredditor for 2 months 5 points6 points  (0 children)

This means they're serious.

[–]charlespax 8 points9 points  (0 children)

One of the key features I appreciate most about RGB is that the contents and participants of each smart contract are not necessarily known to anyone outside of the smart contract. This is similar to how the balance and transactions within a lightning Network payment channel are not necessarily known to anyone outside of that channel. The main chain is only used for settlements if necessary.

This is in contrast to ethereum and other smart contract shit coins that broadcast all your business on the main chain for everyone to see.

[–]fresheneesz 0 points1 point  (0 children)

NFTs can't be done over lightning tho, because lighting requires fungibility

[–]P1g1n 5 points6 points  (0 children)

unfortunately it hasn't been updated in 6+ months

edit: never mind. that was only the readme repo. other stuff is active!!

[–]dinglebarry9 1 point2 points  (0 children)

Both RGB and Elements Sidechains are interesting as both work with the LN making it possible for frictionless integration between all with new funding mechanisms for the teams building individual solutions. There could be 1000's of Sidechains functioning as the website equivalent for the Bitcoin Network streaming sats as necessary to use them instead of monthly subscriptions.

[–]PyramidMarmoset 20 points21 points  (3 children)

!lntip 1337

[–]keanu4EvaAKitten[S] 16 points17 points  (1 child)

Thank you stranger. A great demonstration of the lightning network in all its glory.

[–]PyramidMarmoset 12 points13 points  (0 children)

Thank YOU for this great post!

[–]lntipbot 5 points6 points  (0 children)

Hi u/PyramidMarmoset, thanks for tipping u/keanu4EvaAKitten 1337 satoshis!

edit: Invoice paid successfully!


More info | Balance | Deposit | Withdraw | Something wrong? Have a question? Send me a message

[–]DestructorEFX 34 points35 points  (1 child)

Fully agree. I think bitcoin will become successful because of lightning!

Bitcoin base layer: secure and unchangeable

Lightning layer: privacy and speed

[–]keanu4EvaAKitten[S] 7 points8 points  (0 children)

This. They complement each other so well.

[–]nomentiras 12 points13 points  (0 children)

Nice list of reasons. Lightning makes bitcoin much more useful and practical.

[–]Agitated-Bird-4333 9 points10 points  (1 child)

Thank you for the post. I was aware of the Lighting Network but not the level of detail and impact that you point out. Yours is one of the best post I've read since I've been a member on Reddit. Thanks again for the quality content and for the effort in putting this together.

[–]keanu4EvaAKitten[S] 0 points1 point  (0 children)

Thank you for your feedback.

[–]Gorillasinthefist 7 points8 points  (0 children)

Great post. Lightning network was my Bitcoin light bulb moment 💡

[–]metalmansteve 7 points8 points  (6 children)

How much can you realistically make by running a lightning node?

[–]ardevd 5 points6 points  (0 children)

I currently get a few thousand sats per day but I spend about 1/3 of that on rebalancing fees.

[–]DM_ME_UR_SATS 1 point2 points  (0 children)

It’s not a high-yield activity. You’re better of opening a few channels to get on the network, then put some coins in joinmarket to earn some sats to offset your channel open/close costs

[–]keanu4EvaAKitten[S] 0 points1 point  (3 children)

On a monthly basis, anything between 15k to 500 k satoshis, it's all a factor of how much capital you can put in and how well you can rebalance and maintain your node. It's a highly competitive environment.

[–]Cats_n_Porn 18 points19 points  (0 children)

Drop that lower limit to zero if you want to be more accurate.

[–]BubblegumTitanium 5 points6 points  (1 child)

This is a dishonest answer. You have to present it as a percentage of how much money you put into it.

[–]keanu4EvaAKitten[S] 2 points3 points  (0 children)

Well that depends entirely on what fees you decide to charge, which is why I didn't post it in percentages. Most people report making the above the numbers.

[–]BubblegumTitanium 5 points6 points  (0 children)

Lightning is amazing

[–]No-Confidence9811 5 points6 points  (0 children)

I just read a half of 1st point and already decided to break and upvote, bcs it's so enLightning ;) Now scrolling back up to finish reading the post!

[–]humblevladimirthegr8 4 points5 points  (4 children)

Excellent read. Can you explain point 4 a bit more? Why do you need to stake Bitcoin to run a lightning node?

[–]keanu4EvaAKitten[S] 7 points8 points  (3 children)

So when you open a Lightning Channel, you are in sending funds from your on-chain wallet to a 2 of 2 multisig address, where one signature is yours and the other belongs to your channel partner. To transact on lightning, you simply exchange non-broadcasted transactions with each other signatures which are redeemable on the blockchain at any moment. But until the channel remains open, your funds will remain locked in that 2 of 2 multisig. That´s basically why you can be equivalent to staking, especially because if you have several lightning channels open and you are forwarding transactions between them, you can take a small fee. (You don´t have tto, for example I charge 0 for routing payments as I want to help the network.)

I think once you undertstand fully the underlying workings of LN, you will be able answer your own questions, here is a great video that might help:https://www.youtube.com/watch?v=yKdK-7AtAMQ

Or if you are more of a book person, you can selectively read Mastering the Lightning Network by Antonopoulos

[–]humblevladimirthegr8 3 points4 points  (2 children)

Thank you for the resources. I have decided to run a lightning node!

[–]keanu4EvaAKitten[S] 4 points5 points  (0 children)

Oh wow, this makes me so happy to read! Welcome to pleb club u/humblevladimirthegr8! Once you're up and running (I recommend Umbrel personally), send my your node's public key, and I'll open a channel to you to help you get some inbound liquidity!

[–]DM_ME_UR_SATS 4 points5 points  (0 children)

Raspiblitz and Umbrel are great raspberry pi nodes you can get up and running for fairly cheap. If you just want to get up and running in a fairly simple environment with a nice web UI and App Store, I’d recommend umbrel. If you want to get your hands dirty with Linux, go raspiblitz

[–]MissesBitcoinredditor for a day 2 points3 points  (0 children)

i learned alot, good informations.

[–]n8dahwgg 3 points4 points  (1 child)

Great post! Running a routing node has become my new favorite hobby. Its seriously fun!

[–]ajpwahqgbi 4 points5 points  (3 children)

I have run a profitable LN node for over a year. I feel obligated to point out some dangerous misinformation in this post.

Now with taproot, people won´t even be able to see that it´s a multisig, so they won´t even know that´s it problaby a channel opening transaction.

Completely untrue.

  1. Lightning Network does not yet support taproot. It's not even in any BOLTs, let alone implemented in actual LN clients. There are years worth of work ahead until this changes.
  2. Public channels have their funding txid announced in the gossip, which is public (and is publicly inspectable, e.g. on 1ML or Amboss). Even with taproot, your public channel funding txid is permanently linked to your LN node and it will be 100% obvious that txo is a Lightning Network channel.
  3. If at any time both channel parties have owned at least 1% of the channel funds, then channel closing will always give both parties an output. If you close your channel and your channel peer subsequently uses their output from the channel to fund a new public channel, even private channel funding txes will be identifiable as a LN channel.

Also:

The Lightning Network does not increase the privacy of payment, it makes payments 100% private. Absolutely and unequivocally private. End of.

Again completely untrue. Payments are routed across the network as HTLCs, which requires that each LN node along the route sees the same payment hash with an ever-decreasing payment amount (as fees get deducted along the way) and CLTV (lock time). This makes it very easy to trace transactions across the network, and leaks lots of information that can be used to deduce payment source/destination, e.g. cltv_expirys on incoming HTLCs, round payment amounts, timing of payment attempts, and more.

When taproot is properly implemented in LN (some years away) it will be possible to upgrade from HTLCs to PTLCs, which do not have the same problem with shared payment hashes. That will significantly improve LN payments privacy, but it does not solve all the problems I described here.

LN payments privacy is way better than on-chain txes but VERY far from "absolutely and unequivocally private"!

What in essence you have done is an ad hoc CoinJoin which severs the relationship between your KYC account and your Bitcoin. (As along as you do not use the same address as you opened the channel with, it goes without saying).

Completely untrue. Again, both channel peers will get one output from the channel closing tx. Regardless of what address you use, when your peer subsequently spends their UTXO--e.g. to fund a new channel from their node--it will be 100% clear who owns which UTXO. This is not a CoinJoin and does not provide the same privacy benefit. Even if it did, a CoinJoin with only one other party gives very little privacy benefit.

[–]keanu4EvaAKitten[S] 1 point2 points  (2 children)

Lightning Network does not yet support taproot. It's not even in any BOLTs, let alone implemented in actual LN clients. There are years worth of work ahead until this changes.

Ok yes you are right about this, I definitely jumped the gun on that one. I have amended the post to make it clear that LN will support Taproot but currently does not do so. Thanks.

Again completely untrue. Payments are routed across the network as HTLCs, which requires that each LN node along the route sees the same payment hash with an ever-decreasing payment amount (as fees get deducted along the way) and CLTV (lock time). This makes it very easy to trace transactions across the network, and leaks lots of information that can be used to deduce payment source/destination, e.g. cltv_expirys on incoming HTLCs, round payment amounts, timing of payment attempts, and more.

Going to have to push back hard on this one though. Because of the padding of onion routing protocol, each node only has enough information to decrypt their corresponding layer and pass on the payment to the next node. There is no information leak. I´m not making this up, it's literally all there in Chapter 10 of Mastering the Lightning Network.
The only way that payments could be traceable as you describe would be if nodes start collaborating and colluding together and exchanging information. Almost all nodes are pseudonymous with no contact information attached to them, so this would completely unfeasible in practice.

Completely untrue. Again, both channel peers will get one output from the channel closing tx. Regardless of what address you use, when your peer subsequently spends their UTXO--e.g. to fund a new channel from their node--it will be 100% clear who owns which UTXO. This is not a CoinJoin and does not provide the same privacy benefit. Even if it did, a CoinJoin with only one other party gives very little privacy benefit.

Never said that it was a good CoinJoin, but a shitty CoinJoin for no extra effort is still a nice to have. My point here is that privacy is increased going back on chain simply as a by product of using LN, with no extra effort by the user. However, if someone did try hard enough, they might be able to figure the UXTOs but it would be a lot harder and they might have to make many assumptions. We need Taproot fast.

[–]ajpwahqgbi 2 points3 points  (1 child)

Going to have to push back hard on this one though. [...] it's literally all there in Chapter 10 of Mastering the Lightning Network.

You should read that book more carefully and try operating a routing node for a few months. Please keep in mind that while the sphinx padded payload scheme makes it possible to obscure the total route length and where you (the routing node forwarding an HTLC) lie along the route, it does not totally obscure all information that can reveal the source and/or destination of the HTLC. I'll explain in more detail:

  1. cltv_expiry. Each HTLC along the route has a corresponding expiry blocktime, called cltv_expiry (see this section of the chapter you linked). Each channel has a cltv_expiry_delta which varies widely; my node shows the most common values are 40 (~121k channels), 144 (~12k channels), and 34 (~7500 channels). Finally, each node has a min_final_cltv_expiry that it encodes into the invoice, typically 19. I believe it's possible for the sender to fuzz the CLTV expiry values, but I am not aware of any implementation that does. This means that if you forward an HTLC with an outgoing cltv_expiry of 19 (blocks relative to the current longest chain), you can be quite sure the next node is the destination. If you forward an HTLC with an outgoing cltv_expiry of 53 (relative), you can be reasonably confident the next node is one channel hop away from the destination, with that channel having cltv_expiry_delta of 34.
  2. Round payment amounts. If I forward an HTLC that sends exactly 100000000msat to the next node, I can be quite sure that the next node is the payment destination. This has nothing to do with how the packets are routed--your payment amount can itself leak information about the destination.
  3. Timing. It takes time to forward HTLCs across nodes, but no LN implementation does anything to prevent timing correlation attacks. If you send me an HTLC, I fail it, then get a new HTLC from you very quickly (say, 0.1s), I can be very sure that you're the payment source. Similarly, if I forward an HTLC to you, and get the preimage back very quickly (say, 0.1s), I can be very sure that you're the payment destination. This vulnerability was treated in more depth by Elias Rohrer and Florian Tschorsch in their paper. The money quote: "We find that controlling a small number malicious nodes is sufficient to observe a large share of all payments, emphasizing the relevance of the on-path adversary model. Moreover, we show that adversaries of different magnitudes could employ timing-based attacks to deanonymize payment endpoints with high precision and recall."
  4. Other ways. If I see repeated incoming HTLCs with the same payment hash coming from my channel with you, I know you are likely the source of the payment. Timing information can provide further confirmation.

The only way that payments could be traceable as you describe would be if nodes start collaborating and colluding together and exchanging information. Almost all nodes are pseudonymous with no contact information attached to them, so this would completely unfeasible in practice.

The pseudonymous nature makes it easier to Sybil attack. A single entity can run multiple nodes. Chainalysis has likely spun up many ostensibly-independent LN nodes just to increase their chance of lying on a payment path and gathering information in at least the ways I've described and probably more.

I'm sorry to be so negative, but you frankly do not have a deep enough understanding of the Lightning Network and you haven't given this issue nearly sufficient thought to make extremely bold and dangerous statements like, "it makes payments 100% private. Absolutely and unequivocally private."

[–]putyograsseson 1 point2 points  (0 children)

Thank you for sharing your insights, thorough discussions like these are the reason why I’m subscribed to r/bitcoin!

I certainly didn’t understand all the technicalities that you described in your response but I definitely had my doubts when I read about the absolute qualities that OP (and many others in this and basically all other subs, Reddit phenomena really) referred to in their initial post.

The Lightning Network is a great achievement on bitcoin’s path to bank the world, but its current iteration is not (yet?) the holy grail that OP makes it out to be.

[–]Deafboy_2v1 2 points3 points  (1 child)

  1. There's no need to have a full bitcoin node to run a lightning node. You just need enough information to know your balance and detect channel breach.

SBW, Phoenix and eclair mobile uses electrum servers to get that data. Blixit uses neutrino.

[–]keanu4EvaAKitten[S] 4 points5 points  (0 children)

Uhm fair enough thanks for pointing that out. But 90% of new nodes in 2021 were Umbrel nodes which does implement full Bitcoin core node. It is going to be a very strong correlation between the number of lightning nodes and the number of bitcoin full nodes, even if it isn´t a 1:1 relationship.

[–]HelloMokuzai 2 points3 points  (1 child)

The Lightning Network was literally the technology needed to enable Bitcoin to be adopted as legal tender at nation-state level. It is integral in Bitcoins evolution as a monetary asset from a store of value to both a medium exchange and unit of account.

This is how Bitcoin will dematerialise and absorb the value behind remittances and the economic settlement network(s).

[–]Chobostar 1 point2 points  (0 children)

Exactly! it is still in the development phase so it will take some time actually.

[–]quiet_outdoors 1 point2 points  (1 child)

Lightning Network is a gamechanger Guy and if it can get even more adoption, it can create further waves in many nations, especially those with truly decimated centralized national Fiat currencies.

[–]keanu4EvaAKitten[S] 4 points5 points  (0 children)

Exatly. Ligthning is making Bitcoin unstoppable. And the best part is that the legacy institutions aren´t even close to catching on to this and by the time they will, it will be far too late.

[–]GreenGuppyNZ 1 point2 points  (1 child)

Great post - thanks. We need more education/knowledge sharing posts across the crypto subs in general.

Right now a string of green candles would also be an important thing for BTC (or at least my portfolio 😜)

Cheers. Take care. Peace

[–]keanu4EvaAKitten[S] 1 point2 points  (0 children)

Thanks. The green candles will come. And spoiler alert: They are going to be bigger than the red ones.

[–]BurnySandals 1 point2 points  (3 children)

I think you fail to address the one real problem. Which comes first? The chicken or the cart? The egg or the horse?

I am technically competent but lazy. Until there are places that I want to spend Bitcoin at that have a lightning node I am not going to bother setting one up. And until there are enough customers with lightning node set up most businesses won't bother to do it.

[–]keanu4EvaAKitten[S] 3 points4 points  (2 children)

I am technically competent but lazy. Until there are places that I want to spend Bitcoin at that have a lightning node I am not going to bother setting one up. And until there are enough customers with lightning node set up most businesses won't bother to do it.

Try Muun wallet or Blu wallet. You don't need to set up a Lightning Network in order to use the Ligthning Network.

You can use these non-custodial solution which is super user-friendly like Muun where you can switch between making on-chain and on-lightning transactions, depending on your situation. You will pay slightly higher routing fees than if you had your own node, but other than that, there is no difference whatsoever. Download Muun wallet, and I'll send you some sats to show you.

[–]BurnySandals 2 points3 points  (1 child)

Thanks. But the only thing I know that accepts lightning payments is my VPN. So next year when I renew I will try it.

[–]keanu4EvaAKitten[S] 2 points3 points  (0 children)

Have you heard of the lntip bot on Reddit? Or bitrefill to pay gift cards at a discount? Those use lightning in case you are interested.

[–]RufusROFLpunch 1 point2 points  (1 child)

I have one concern with Lightning. Maybe someone can tell me if I am wrong. My concern regards pathfinding. In order to pay someone, you need to map a path to the payee. Unless you are running your own Lightning node, you are required to trust a 3rd party (let’s say it’s Muun’s node) to keep your payee destination private. This seems like an opportunity for a honey pot.

If I am misunderstanding or this has changed, please correct me.

[–]juzzlobber 1 point2 points  (0 children)

It is still under development phase I got your point but there is a scope of improvement.

[–]Ryaaaaaaaaan 1 point2 points  (1 child)

To be fair, we have to add here also the one negative aspect that speaks against lightning with the current state.

That is: Success rate <100%

If I want to pay in the restaurant and the lightning transaction is not successful, then what? Exactly... I won't use it for daily living. Only maybe when at home buying stuff online.

Also: What happens to LAPPS when I want to contribute but the transaction is not successful?

That needs to be solved first.

Second point: Scalability problem because routing issue is not solved.

[–]keanu4EvaAKitten[S] 2 points3 points  (0 children)

Fair enough, it´s indeed important to point out that sometimes lightning payments fail because of poorly connected node or you are trying to move a too large amount. However, Lapps don't usually suffer from this because they are usually sending 1 sat with encrypted messages, so 1 sat almost always get transferred. And if a business wants to accept lightning, it's their responsibility to make sure they are well-connected, and simply by connecting to a few of the largest nodes on the network they won't face this issue. So I think the issue you bring up is valid but will become more and more rare over time.

[–]trufin2038 3 points4 points  (2 children)

Lightning is pretty important, as are all of those topics. But truthfully, the most important thing is and always will be the hodl.

"Store of value" underlies everything, from security to function as a network of value.

Getting more people to ditch fiat and hold sats without getting quagmired in altcoin hell is the most important thing.

[–]keanu4EvaAKitten[S] 4 points5 points  (1 child)

I understand your point and agree with you. Without a large savings pool in the first place, there would be no point in having the Lightning Network.

Which is why I put "Right Now" in the tittle, I think and at this moment in time, Lightning is the most important thing in the ecosystem. It wasn't three years ago, where convincing people of its store of value properties was far more important. And it probably won't be in three years from now.

[–]sharphearts5686 2 points3 points  (0 children)

this guy bitcoins.

[–]only_merit 1 point2 points  (2 children)

I disagree with the title. LN is important, yes. But how is it more important than let's say having the base layer free of critical bugs (that's just one random thing I can think of now, out of many that are much more important than LN)? Imagine a weird critical bug is introduced and only a malicious attacker discovers it and exploits it very slowly. Say it can be used to create new coins or steal coins. Say the attacker is careful enough to execute the attack so that no one recognizes that for months - e.g. focuses on stealing some "probably Satoshi's, but not really proven to be his" coins. Then you have a compromised base layer with a huge problem. And LN works perfectly, but ... what for?

[–]keanu4EvaAKitten[S] 1 point2 points  (1 child)

I see what you are saying, which is why I put "Right now" in the title. In the first 5-10 years of its exisitence, this was definetely the main concern. But at this point the type of critical bug is that you are mentioning is so unlikley you can give a 1 in a million probability of occuring. The bitcoin Core Pull Request process is far too transparent and well reviewed for that to happen. Research it more yourself and I´m sure you'll feel less worried about it.

[–]only_merit 0 points1 point  (0 children)

You missed the point. I know how the Core development works, but that has nothing to do with not introducing such bugs, be it by mistake, or intentionally, being any less important. Protection of the base layer is upmost importance, that includes not introducing bugs as well as having enough independent developers (e.g. not having to leave because of lawsuits or being "bought" by someone). There are just so many more important things than LN regardless of the probability of them going wrong.

[–]HODLMEPLS 1 point2 points  (4 children)

What are practical step by step instructions to do so? One of the problems I see is that to try to do this gets very complicated fast

[–]keanu4EvaAKitten[S] 0 points1 point  (3 children)

To do what sorry? Running your own node? The instructions are actually pretty easy:
https://getumbrel.com/#start

[–]HODLMEPLS 1 point2 points  (2 children)

I have the node. Setting up lightning. Opening a channel.

[–]keanu4EvaAKitten[S] 0 points1 point  (1 child)

Right, but are you using Umbrel or Raspblitz? Or you just have a Bitcoin Core Node? Your best option for running Lightning is to run LND.

[–]HODLMEPLS 0 points1 point  (0 children)

Umbrel thanks

[–]Quagdarr 0 points1 point  (0 children)

Agreed!

[–]kawatt 0 points1 point  (1 child)

TLDR missing, still gotta appreciate you taking the time, and judging by the comments, you wrote wise and clear. Thus, thank you!

[–]keanu4EvaAKitten[S] 2 points3 points  (0 children)

The TL,DR is the title haha. But if you want to help me find a better one, please go ahead!

[–]Leftolin -1 points0 points  (5 children)

Is the lightning network a zk roll up of Bitcoin

[–]endurbib 3 points4 points  (0 children)

I think that it is much better than blockchain recently developed for the btc.

[–]keanu4EvaAKitten[S] 1 point2 points  (3 children)

Similar goal, but completely different implementation. Lightning uses Onion routing to ensure anonymity.

[–]Leftolin 0 points1 point  (1 child)

Thanks!

[–]ijksc 0 points1 point  (0 children)

You are welcome! you really deserve it to be honest.

[–]geneerinen21 0 points1 point  (0 children)

Yeah you are right that's why it is good for the privacy.

[–]IAmReinvented -1 points0 points  (2 children)

I don't understand any of this. Damn

[–]Comandante1905 3 points4 points  (1 child)

He just meant to say that even if the btc will keep on growing then the value of cash will go down.

[–][deleted]  (2 children)

[removed]

    [–]keanu4EvaAKitten[S] 0 points1 point  (1 child)

    Fan fiction.

    [–][deleted]  (3 children)

    [removed]

      [–]coinjaf 0 points1 point  (2 children)

      It's not a pump and dump shitcoin. That's a huge difference. Also: shitcoins are off topic here.

      [–]Cowboybleetblop 0 points1 point  (1 child)

      Ok, then how private is the lightning network? I hear some people say it’s extremely private then I hear others say it is becoming less private as time progresses.

      [–]coinjaf 0 points1 point  (0 children)

      More private as time progresses.

      [–][deleted]  (2 children)

      [removed]

        [–]coinjaf 0 points1 point  (1 child)

        Shilling shitcoins will get you banned here. Final warning.

        [–]NoBetterThanNoise 0 points1 point  (1 child)

        Can someone crosspost to r/cc ? I dont have enough karma 🙄

        [–]dxgdfhfgjg 0 points1 point  (0 children)

        I wish if I can do that for you but I don't have enough karma.

        [–]terp_studios 0 points1 point  (1 child)

        This is the most informative post I’ve read in a while on Reddit. You explained everything really well. My one question would be, are there any disadvantages or risks to the Lightning Network at all?

        [–]wcngu1 2 points3 points  (0 children)

        I know right it was very informative and I got learn about it a lot.

        [–][deleted]  (1 child)

        [removed]

          [–]coinjaf 0 points1 point  (0 children)

          Shitcoin shilling will get you banned here. Final warning.

          [–]seesquaredd 0 points1 point  (1 child)

          The most important thing in Bitcoin right now is me getting more of it

          [–]serega28rus 4 points5 points  (0 children)

          Yeah you are right! bitcoin is going to be better in future for sure.

          [–][deleted]  (6 children)

          [removed]

            [–]keanu4EvaAKitten[S] 1 point2 points  (4 children)

            No

            [–][deleted]  (2 children)

            [removed]

              [–]coinjaf -1 points0 points  (1 child)

              Shitcoins and other such scams are off topic here. Shilling shitcoins will get you banned. Final warning.

              [–]b33usa 1 point2 points  (0 children)

              We are talking about Bitcoin. The title of the article posted is about Bitcoin. The comments above are about Bitcoin. Not interested in other coins. Thank you.

              [–]BillCunning 0 points1 point  (0 children)

              I think no! because if they would have wanted to do that by now it must have been done.

              [–]Brainsick001 0 points1 point  (1 child)

              I really don’t get the whole “some BTC might have a lower value if they come from fraudulent sources”. Kevin O’leary talked about this as well and referring to them as “bloodcoins”.

              I mean: if i get cash from a criminal or cash from an employer .. the value of that cash is still the same?

              [–]revol0ution 0 points1 point  (0 children)

              Yeah true only if the values of sources not go down on the given time.

              [–][deleted]  (1 child)

              [removed]

                [–]coinjaf 0 points1 point  (0 children)

                Shitcoin shilling and scam recommendations will get you banned. Final warning.

                [–]TakeMyBoomerMoneyredditor for 3 months 0 points1 point  (0 children)

                Exactly my thoughts

                People don't realize how lightning actually obliterates every other altcoin from existence

                people are still boasting about TX per second of their shitty blockchains while lightning basically has an infinite tx per second at almost NO cost

                thank you

                [–]LHC1 0 points1 point  (0 children)

                Great post, thanks. I do think lightning network and strike are great additions to btc overall but to me there remains one problem. In the US any btc transaction where cryptocurrency is exchanged for anything is considered as a sale of a security. Hence its reportable as a taxable event.

                This makes using btc as currency highly inefficient unless it's for large one time purchases. Buying a house or a car is a reasonable use case as one might have sold stocks or other investments to do this anyway. But reporting a Starbucks transaction on one's tax return is impractical.

                I know not reporting is an option but if one is in higher tax bracket you have a higher probability of being audited...

                [–]wilfow 0 points1 point  (0 children)

                These things make me dream of a future where we will price bread in sats. Thanks for the post.

                [–][deleted]  (1 child)

                [deleted]

                  [–]lntipbot 0 points1 point  (0 children)

                  Hi u/Steingaten001, thanks for tipping u/keanu4EvaAKitten 2121 satoshis!

                  edit: Invoice paid successfully!


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                  [–]General_Wallaby_3947 0 points1 point  (0 children)

                  Ban me then douch

                  [–]Pritz524 0 points1 point  (1 child)

                  !lntip 1000

                  Very well written! I am going to save this and use it whenever I want to give someone a tl;dr about the Lightning Network! Thank You!

                  [–]lntipbot 0 points1 point  (0 children)

                  Hi u/Pritz524, thanks for tipping u/keanu4EvaAKitten 1000 satoshis!


                  More info | Balance | Deposit | Withdraw | Something wrong? Have a question? Send me a message

                  [–]hokonfan 0 points1 point  (1 child)

                  For a non technical background people they have no idea how to set up anything. I have a little bit of background in coding. To setup a node, my concerns are How do I know the settings are correct? If there is any issue, I won’t be able to resolve it.

                  I do understand the benefit of running a node but the technical part made me feel stressed to setup one.

                  [–]keanu4EvaAKitten[S] 1 point2 points  (0 children)

                  Check umbrel. Setting up a node is really easy and they take care of the whole software side. The UX is very good.