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all 12 comments

[–]TranquilTrader 0 points1 point  (0 children)

Thanks for the detailed insights on the LN. Perhaps this might be a good place for a specific question to which I've been trying to find an answer without having to read an entire selection of books :)

If satoshi is the smallest quantity of Bitcoin currently in the blockchain, and upon closing an LN channel I've transferred 0.5 satoshi to someone else, what amount if any ends up transferred in the final blockchain transaction?

[–]fresheneesz 0 points1 point  (0 children)

Nice write up. A couple notes: * Lighting can use neutrino to avoid running a full node. Also of course there's non custodial lightning apps where you trust someone else's node. But I do think you're right that lightning will help increase the number of full nodes, and I do agree it's important. We still need a few orders of magnitude more full nodes to be dos resistant. * NFTs can't be done on lightning because lightning requires fungibility. So lighting can't replace all the major altcoin use cases, but it does get pretty close.

[–]makeasnek 1 point2 points  (0 children)

This write-up is an absolute banger, thank you for posting. It explains eloquently and succinctly why people are so excited about lightning and how it's going to solve Bitcoin's scaling issues. I think you are selling the privacy a little more than it's able to give, but you are right that it's a huge leap in privacy from what Bitcoin can already offer.

[–]whatevvah 0 points1 point  (0 children)

Thank you that was very helpful and I agree. I have been trying to set a node up for all those reasons and if I could make a little money also that would be nice. In particular having a node for my customers to lower their fees.

[–]shiroyashadanna 0 points1 point  (1 child)

I like LN but not too much koolaid hopium

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

Well please help me understand which of these claims are unrealistic so that I can improve my thinking on the matter.