Discover and read the best of Twitter Threads about #LightningNetwork
Most recents (24)
Lightning Network Empowering Micropayments Between AI Agents ⚡🤖
A breakdown of L402 protocol.
A breakdown of L402 protocol.
The Lightning Network continues to push boundaries by enabling micropayments between AI agents, ushering in a new era of decentralized and collaborative intelligence.
Thanks to innovative protocols like L402, developed by @lightning , this groundbreaking synergy is NEAR! 2/
Thanks to innovative protocols like L402, developed by @lightning , this groundbreaking synergy is NEAR! 2/
#LightningNetwork revolutionized the way we transact value, and now it's extending its reach to facilitate seamless interactions between AI agents.
L402, a cutting-edge protocol by Lightning Labs, is at the forefront of this technological advancement. 3/
L402, a cutting-edge protocol by Lightning Labs, is at the forefront of this technological advancement. 3/
As people asked my opinion on Ark before. Here is a small thread...
I recommend listening to the episode with @brqgoo by @stephanlivera. Some details and problems are discussed and addressed. Obviously having read the technical discussion / proposals first will help you too
1/7
I recommend listening to the episode with @brqgoo by @stephanlivera. Some details and problems are discussed and addressed. Obviously having read the technical discussion / proposals first will help you too
1/7
First I want to say I absolutely share the short commings of the #LightningNetwork that @brqgoo addresses & I extended them c.f:
While I am less pessimistic on LN I think it is absolutely crucial that we allow ourselves to also consider alternatives
2/7
While I am less pessimistic on LN I think it is absolutely crucial that we allow ourselves to also consider alternatives
2/7
I think the proposal in Ark is a very interesting approach. My main learning:
It seems that covenants in general offer much stronger offchain possibilities than we currently have.
In that sense @brqgoo open a whole new Design space for me to tinker about. For example...
3/7
It seems that covenants in general offer much stronger offchain possibilities than we currently have.
In that sense @brqgoo open a whole new Design space for me to tinker about. For example...
3/7
🧵 1/ “I was so bullish on Lightning (#LightningNetwork). I was so… Thinking about lightning as the best way to… this is how we’re going to transact and everything. And now that Lightning is here, and… Even now Lightning has been around for a long time, but…” — @ercwl
2/ “…I don’t want to use this system to pay with, because of the inbound liquidity and all the nonsense around that. And just like, opening up your lightning node that has to sync… I think that Lightning…
When you’re using cryptocurrency, you just want to…” - @ercwl
When you’re using cryptocurrency, you just want to…” - @ercwl
3/ “…be able to put a deposit address somewhere, and then people are sending you money without you even maintaining that. You don’t want to have to go through the hassle of these open channels. So like, Lightning…
After a few years, like, after we were fighting so…” - @ercwl
After a few years, like, after we were fighting so…” - @ercwl
1/ Debunking the Myth: Did Ordinals & BRC20 Break Bitcoin? 🚀💡 Let's dive into the facts and debunk some common misconceptions surrounding the impact of these protocols on the #Bitcoin network. 🧐🔍
2/ Chess Game Analogy: 🎲 Just like in a game of chess, players have different strategies & motives. Some spread fear, uncertainty, and doubt 😨, while others promote their own solutions. It's crucial to critically analyze the claims made by both sides. 🕵️♂️ #crypto
3/ State-Level-Attack: 🌐 We've seen that a state-level attacker might need about $2 billion to come close to stifling the Bitcoin network. The network can adapt & grow, but this is definitely a concern. 😬 #BitcoinSecurity
🧵1/10 Interested in #Bitcoin transactions but not sure how they work? I've got you covered!
💰 Let's dive into the details of Bitcoin transactions, resources for further reading, and tips to make the most of your Bitcoin experience. #bitcoin
💰 Let's dive into the details of Bitcoin transactions, resources for further reading, and tips to make the most of your Bitcoin experience. #bitcoin
🔗2/10 First things first, what is a Bitcoin transaction? It's the transfer of value between Bitcoin wallets, which gets recorded on the blockchain.
Learn more about the basics in this Bitcoin whitepaper by Satoshi Nakamoto: bitcoin.org/bitcoin.pdf
Learn more about the basics in this Bitcoin whitepaper by Satoshi Nakamoto: bitcoin.org/bitcoin.pdf
🔒3/10 Each wallet has a private key, which is used to sign transactions, proving they come from the owner. The signature prevents the transaction from being altered after it's issued.
More on private keys & wallet security here: coindesk.com/learn/bitcoin-…
More on private keys & wallet security here: coindesk.com/learn/bitcoin-…
I critique the #LightningNetwork as substitute for regular payments, but what is it actually good at? 🤔
Answer: interconnected closed-loop ecosystems 🌐
Quick 🧵on some ideal uses cases for Lightning
1/8
Answer: interconnected closed-loop ecosystems 🌐
Quick 🧵on some ideal uses cases for Lightning
1/8
First, what ia Lightning LESS efficient at?
-P2P payments to new parties
-Capital-efficient routing (only need $5 to send $5)
Where is it MORE efficient?
-Repeat payments to known parties
-Many small payments (the more and smaller the better)
-Fast confirmations
2/8
-P2P payments to new parties
-Capital-efficient routing (only need $5 to send $5)
Where is it MORE efficient?
-Repeat payments to known parties
-Many small payments (the more and smaller the better)
-Fast confirmations
2/8
Funny enough, this makes it bad at digital cash. 😯
The more people you have to pay for one-off purchases, the worse it performs.
The more distributed it is, the more total capital in channels you need to make it work, and the higher your risk of payment failure!
3/8
The more people you have to pay for one-off purchases, the worse it performs.
The more distributed it is, the more total capital in channels you need to make it work, and the higher your risk of payment failure!
3/8
Saylor turns all emails into a Lightning address at Microstrategy, did you get one yet?
The Lightning Address is a great innovation for onboarding people to #Bitcoin and #lightning adoption.
After all, If you can send an email, now you can transact in bitcoin.
How?? 👇🧵
The Lightning Address is a great innovation for onboarding people to #Bitcoin and #lightning adoption.
After all, If you can send an email, now you can transact in bitcoin.
How?? 👇🧵
⚡️A Lightning Address is just like an email address, just way cooler, it is in fact written in exactly the same format.
Example: amy@getalby.com - Email
amy@getalby.com - Lightning Address
Example: amy@getalby.com - Email
amy@getalby.com - Lightning Address
⚡️Before the Lighting Address was a thing, people had to use a Lightning invoice which had on average at least 190 characters long. Yikes!! so lots of copy and pasting unless you had a superhuman memory 🙃Now it just simply could be your name ....@.....just like your email.
1/25 🧵 @bitrefill believes it the largest commerce platform in the space. As such, I wanted to share some deep thoughts on payment method (PM) popularity over time in the hope of pushing the industry forward. This first chart shows monthly active users for each PM since 2019:
2/25 In the chart above:
- Solid colors indicate crypto assets,
- Dotted texture represents stablecoin tokens,
- Backslashes represent layer 2 crypto assets (BTC on Lightning),
- Forward slashes represent layer 2/sidechain stablecoins (USDC on Polygon).
- Solid colors indicate crypto assets,
- Dotted texture represents stablecoin tokens,
- Backslashes represent layer 2 crypto assets (BTC on Lightning),
- Forward slashes represent layer 2/sidechain stablecoins (USDC on Polygon).
3/25 In summary, the chart above shows the Bitcoin ecosystem ceding ground to other PM’s over the last four years. There is much nuance to this phenomenon, however, so let’s get into the latent factors influencing each PM over time:
RGB on Lightning Network: Game changer for Bitcoin🧵⚡️⬇️
In the last week, the RGB-tools and Bitfinex teams showed integration with LDK, a Lightning implementation on layer 2.
#bitcoin #rgb #lightningnetwork #taproot #layer2 #layer3
In the last week, the RGB-tools and Bitfinex teams showed integration with LDK, a Lightning implementation on layer 2.
#bitcoin #rgb #lightningnetwork #taproot #layer2 #layer3
RGB and Lightning Network Compatibility
When an RGB state transaction is committed into a Bitcoin transaction and like this can be part of payment channel. In simple words, each new RGB state transition can committed inside in a channel to move RGB assets.
When an RGB state transaction is committed into a Bitcoin transaction and like this can be part of payment channel. In simple words, each new RGB state transition can committed inside in a channel to move RGB assets.
How works? Part.1
Alice open channel with Bob providing 10k satoshis and 500 USDT. The RGB commitment is added in a dedicate OP_RETURN output. Remember: With Taproot this could also be done.
Alice open channel with Bob providing 10k satoshis and 500 USDT. The RGB commitment is added in a dedicate OP_RETURN output. Remember: With Taproot this could also be done.
We want to tweet regarding @MBitcoiner, @c_hashreview, @harris_irfan, @brucefenton, @MuatafaGMI, and other ‘Bitcoin maxis’.
You love #Bitcoin almost blindly, probably even more than it deserves. But we are here not to convert your opinion.
You love #Bitcoin almost blindly, probably even more than it deserves. But we are here not to convert your opinion.
#IslamicCoin’s team shares mostly the same perspectives about Bitcoin as ‘bitcoin maxis’ and is devoted to the goal of inclusion of unbanked people into the modern economy. We do like decentralization, resistance to manipulation, deflationary nature, etc. But let’s draw the line.
#Bitcoin is the first mover. In the 12 years of its existence, we've witnessed many other coins and blockchains with different value propositions and utility, like privacy coins, #DeFi protocols, #stablecoins, and #NFTs, to name a few.
What is #bitcoin #lightning "Splicing"?
Splicing is transferring funds from on-chain outputs into a payment channel or from a payment channel to independent on-chain outputs without the channel participants having to wait a confirmation to spend the channel’s other funds.
🧵 1/5
Splicing is transferring funds from on-chain outputs into a payment channel or from a payment channel to independent on-chain outputs without the channel participants having to wait a confirmation to spend the channel’s other funds.
🧵 1/5
In practice, that means with splicing you can add or remove bitcoin from your #LightningNetwork payment channel without the need to close the channel and create a new one entirely. It is making for a more dynamic LN experience.
Splicing comes in 2 varieties:
🧵 2/5
Splicing comes in 2 varieties:
🧵 2/5
1. "Splice In" means adding funds to a channel. In this case, a cooperative close of the channel is arranged between the involved parties that spends the old channel funds to a new channel along with the new deposit.
🧵 3/5
🧵 3/5
Quiz No.22
In which countries is #bitcoin already legal tender?
A) Haiti & Peru
B) Cuba & Tonga
C) El Salvador & Central African Republic
Follow,Retweet and answer the question along with a Lightning invoice WITHOUT GIVEN AMOUNT (QR Codes only)
#LightningQuiz #Fixinflation
👇🏼
In which countries is #bitcoin already legal tender?
A) Haiti & Peru
B) Cuba & Tonga
C) El Salvador & Central African Republic
Follow,Retweet and answer the question along with a Lightning invoice WITHOUT GIVEN AMOUNT (QR Codes only)
#LightningQuiz #Fixinflation
👇🏼
Submissions (comments) are open for 3h.
5 random lucky participants win the big prize of 2100 Sats each!
If you haven’t got a Lightning wallet yet, grab yours here:
lightningnetworkstores.com/wallets
Together against #inflation.
#Bitcoin #BTC #LightningNetwork #LightningQuiz
👇🏼
5 random lucky participants win the big prize of 2100 Sats each!
If you haven’t got a Lightning wallet yet, grab yours here:
lightningnetworkstores.com/wallets
Together against #inflation.
#Bitcoin #BTC #LightningNetwork #LightningQuiz
👇🏼
Feel free to spread the word about the Quiz to help grow the #LightningNetwork use and adoption as well as the knowledge about #Bitcoin!🥳
Tips are always appreciated to keep the Quiz running😎
Enjoy!🧡
Tips are always appreciated to keep the Quiz running😎
Enjoy!🧡
⚡️🍊⚡️
Vendiendo sats
#BTC #Satoshi #LNP2Pbot
Ligthning Network p2plightning
140-180 USD Por
3.500 - 4.500 BS VES 🇻🇪
Recibo pago:
✅Pago móvil
✅Banesco
Tiene 11 operaciones exitosas
#SELLVES
Tasa: yadio.io
5 ⭐⭐⭐⭐⭐ (11)
Toma orden👇
t.me/p2plightning/6…
Vendiendo sats
#BTC #Satoshi #LNP2Pbot
Ligthning Network p2plightning
140-180 USD Por
3.500 - 4.500 BS VES 🇻🇪
Recibo pago:
✅Pago móvil
✅Banesco
Tiene 11 operaciones exitosas
#SELLVES
Tasa: yadio.io
5 ⭐⭐⭐⭐⭐ (11)
Toma orden👇
t.me/p2plightning/6…
Quien no entienda como funciona lo explico en este Hilo 🧵
¿Sabías que los pagos en línea pueden ser rápidos como un rayo?, sin importar donde estés y aun manteniendo seguridad en tus cambios?, Esto se debe a que #lnp2pBot con el Lightning Network nos lo hizo más sencillo usar
¿Sabías que los pagos en línea pueden ser rápidos como un rayo?, sin importar donde estés y aun manteniendo seguridad en tus cambios?, Esto se debe a que #lnp2pBot con el Lightning Network nos lo hizo más sencillo usar
El lightning es como un tren de alta velocidad. Los pagos se envían por los vagones a todas partes a una velocidad increíble.
Solo necesitas tener una wallet que reciba Bitcoin LN como @LightningTipB0t de telegram y usar el bot @lnp2pBot y lo ves en
t.me/p2plightning
Solo necesitas tener una wallet que reciba Bitcoin LN como @LightningTipB0t de telegram y usar el bot @lnp2pBot y lo ves en
t.me/p2plightning
Core Lightning v23.02: What's coming to next version of CLN? 🧵⚡️⬇️
The second implementation popular on Lightning Network is coming with great news!
#bitcoin #LightningNetwork #taproot #privacy #layer2 #p2p #peerstorage #peertopeer
The second implementation popular on Lightning Network is coming with great news!
#bitcoin #LightningNetwork #taproot #privacy #layer2 #p2p #peerstorage #peertopeer
Highlights
-Peer storage;
-Bitcoin-cli getmempoolinfo to determine the lower bound feerate;
-Signinvoice to BOL11;
-RPC call interface;
-Blinded paths cross-compatibility;
-Bug fixes.
-Peer storage;
-Bitcoin-cli getmempoolinfo to determine the lower bound feerate;
-Signinvoice to BOL11;
-RPC call interface;
-Blinded paths cross-compatibility;
-Bug fixes.
Epilogue
As main second node implementation, I hope like this how new features or bugs fixes, the implementation have success within ecosystem of Lightning Network. The next release is scheduled to be released in February 01 of 2023.
As main second node implementation, I hope like this how new features or bugs fixes, the implementation have success within ecosystem of Lightning Network. The next release is scheduled to be released in February 01 of 2023.
Discrete Payments through Coinjoin and Nostr: Enhancing Privacy on Bitcoin⬇️🧵⛓️
The idea allows user create transactions with privacy and using Nostr encryption communication
#bitcoin #LightningNetwork #coinjoin #nostr #taproot #privacy #fedimint #layer2 #layer3 #rgb
The idea allows user create transactions with privacy and using Nostr encryption communication
#bitcoin #LightningNetwork #coinjoin #nostr #taproot #privacy #fedimint #layer2 #layer3 #rgb
What's WabiSabi?
WabiSabi is a protocol for centrally coordinated Coinjoin implementations utilizing keyed verification anonymous credentials and homomorphic value commitment. Providing blind signatures in both privacy and flexibility. This protocol is used on Wasabi wallet
WabiSabi is a protocol for centrally coordinated Coinjoin implementations utilizing keyed verification anonymous credentials and homomorphic value commitment. Providing blind signatures in both privacy and flexibility. This protocol is used on Wasabi wallet
How works?
In simple words, the Merchant create a invoice and shows your pubkey of the Nostr for relay recommended. After, the costumer posts an encrypted message with the payment and value using specific wabisabi coordinator. Merchant can reject or accept.
(continue below)
In simple words, the Merchant create a invoice and shows your pubkey of the Nostr for relay recommended. After, the costumer posts an encrypted message with the payment and value using specific wabisabi coordinator. Merchant can reject or accept.
(continue below)
Meaningful adoption of #Crypto as money still hasn't kicked in yet, despite 14 years since its inception and demand across the globe.
Why? 🤔
Because we keep getting stuck at certain levels of the adoption cycle. Thread:👇
1/12
Why? 🤔
Because we keep getting stuck at certain levels of the adoption cycle. Thread:👇
1/12
Before going further I should acknowledge that #Bitcoin's block size limit did slow down adoption.
The blocks filled up and adoption halted until the #LightningNetwork became viable just a couple of years ago.
Happened regardless of if you think it was necessary or not🤷♂️
2/12
The blocks filled up and adoption halted until the #LightningNetwork became viable just a couple of years ago.
Happened regardless of if you think it was necessary or not🤷♂️
2/12
Okay so there are 4 big steps here:
1: People want crypto
2: People buy crypto
3: People want to be paid in crypto
4: People want to spend crypto
Each step represents consumer demand driving adoption, and each step needs its own tools to make this easy.
3/12
1: People want crypto
2: People buy crypto
3: People want to be paid in crypto
4: People want to spend crypto
Each step represents consumer demand driving adoption, and each step needs its own tools to make this easy.
3/12
Pleas for reconciliation = subconscious fault recognition, precursor to humble conversion. #BCH needs all Bitcoiners, but cannot afford any previously purged nonsense.
Rethink the differences & come home. On some level, you already understand you eventually will.
We'll be here.
Rethink the differences & come home. On some level, you already understand you eventually will.
We'll be here.
Previously:
BacktoBasics thread 🧵#lightningnetwork
For all our new friends who are new to using the Lightning network or thinking about getting themselves a Lightning wallet.
So you're right into #Bitcoin, you've probably heard about the Lightning Network. ⚡️
For all our new friends who are new to using the Lightning network or thinking about getting themselves a Lightning wallet.
So you're right into #Bitcoin, you've probably heard about the Lightning Network. ⚡️
Lightning Network is a layer on top of the Bitcoin blockchain that enables fast, cheap, and scalable transactions⚡️
It works by creating a network of payment channels that can be used to send and receive Bitcoin without having to wait for blocks to be confirmed on the blockchain
It works by creating a network of payment channels that can be used to send and receive Bitcoin without having to wait for blocks to be confirmed on the blockchain
This means that you can use the Lightning Network to make instant payments, with very low fees. In order to use the Lightning Network, you'll need a special type of wallet called a Lightning wallet.
1/ Sell your #LightningNetwork #LN ⚡️ liquidity on ipayblue.com.
This service is already active since November, but
we recently raised ⏫ the ppm we pay to you to 1150!
A thread 🧵 explaining ways you can make money on #LN!
This service is already active since November, but
we recently raised ⏫ the ppm we pay to you to 1150!
A thread 🧵 explaining ways you can make money on #LN!
2/ How does it work?
a) Open a channel to amboss.ipayblue.com.
b) Set your fees as low as possible to allow routing to our node and move liquidity to our side (part or full channel capacity).
c) When the desired liquidity is on our side, you can request channel closure.
a) Open a channel to amboss.ipayblue.com.
b) Set your fees as low as possible to allow routing to our node and move liquidity to our side (part or full channel capacity).
c) When the desired liquidity is on our side, you can request channel closure.
3/ When this is done, we will keysend you an amount of sats (your income) and close the channel.
We currently pay 1150 ppm (subject to change) for sats you push to our side.
So, open a 10M sat channel to us, move sats to our side, we keysend you 11,500 sats and close the channel.
We currently pay 1150 ppm (subject to change) for sats you push to our side.
So, open a 10M sat channel to us, move sats to our side, we keysend you 11,500 sats and close the channel.
The magic of the Lightning Network is built on HTLCs
But most Bitcoiners don't know how they work.
Quick thread:
But most Bitcoiners don't know how they work.
Quick thread:
HTLC stands for “Hash Time-Lock Contract”
In short, HTLCs are programmable smart contracts that create atomic trustless transactions between peers on the Lightning Network.
In short, HTLCs are programmable smart contracts that create atomic trustless transactions between peers on the Lightning Network.
HTLCs are conditional payments that say “I will pay you [x+1] satoshis if you prove you’ve forwarded [x] satoshis”.
(the +1 would be the routing fee in this scenario)
(the +1 would be the routing fee in this scenario)
The #Bitcoin #LightningNetwork works a lot better than it used to, and most of the time these days payments go through.
But it will ALWAYS have far higher likelihood of failed payments than on-chain cryptos. Maxis who say "I've never had a problem" are likely lying!
🧵time
1/8
But it will ALWAYS have far higher likelihood of failed payments than on-chain cryptos. Maxis who say "I've never had a problem" are likely lying!
🧵time
1/8
Keeping it simple for brevity's sake: on networks without congestion, unless there's some bug or issue in the individual wallet implementation, your transaction will go through almost all the time.
Most common exception in my ~10 years of using crypto is connectivity issues
2/8
Most common exception in my ~10 years of using crypto is connectivity issues
2/8
With Lightning, your payment can fail if the sender can't connect (just like on-chain), but ADDITIONALLY if:
-the RECIPIENT can't connect
-there's no payment route
-the payment is too large
-someone on the route can't connect or doesn't have enough liquidity
3/8
-the RECIPIENT can't connect
-there's no payment route
-the payment is too large
-someone on the route can't connect or doesn't have enough liquidity
3/8
1/ With a turbulent 2022 in the rear view, #Bitcoin miners are on the retreat. After tipping ~265 EH/s last month, hashrate has tumbled -6% 📉
In response, we saw a massive -7.3% network difficulty adjustment, the largest downtick since the Chinese miner exodus of summer '21.
In response, we saw a massive -7.3% network difficulty adjustment, the largest downtick since the Chinese miner exodus of summer '21.
2/ Still, miner margins have been compressed all year, so the burst of hashrate in late Q3 is a bit mysterious.
One theory offered by @Data_Always is that miner rackspace was rapidly reallocated from GPUs to ASICs in the wake of the Ethereum Merge.
One theory offered by @Data_Always is that miner rackspace was rapidly reallocated from GPUs to ASICs in the wake of the Ethereum Merge.
3/ As explored in the Q3 @coinmetrics mining special, only 25% of Ethereum's hashrate found a home in its estranged sister chain #ETC, giving even more credence to the rackspace reallocation rumors.
Full-RBF en #Bitcoin
Quien aboga por 0-conf, plantea que RBF ataca la seguridad, porque para los comerciantes las Tx 0-conf conllevan un riesgo manejable si no se aplica RBF, pero en qué están confiando?, en la honestidad del pagador o en su falta de conocimiento para aplicar RBF
Quien aboga por 0-conf, plantea que RBF ataca la seguridad, porque para los comerciantes las Tx 0-conf conllevan un riesgo manejable si no se aplica RBF, pero en qué están confiando?, en la honestidad del pagador o en su falta de conocimiento para aplicar RBF
Recordemos que el reemplazo de la Tx fue introducido por Satoshi Nakamoto, pero deshabilitado en algún momento, posiblemente a la espera que la comunidad madurara lo suficiente para su mejor uso. Luego fue actualizado a RBF y habilitado en Bitcoin Core 0.12.
Para reemplazar, hay un designado "int" campo llamado nSequence, que indica qué transacción es una versión anterior y cuál es más joven. Entonces, para que la Tx sea reemplazable nSequence debe ser más bajo que MAX (0xffffffff — 1).
What's RGB Proxy?🧵⬇️⚡️
RGB proxy is a server done to facilitate the relay of load data between RGB wallets, having better UX for end user and also avoiding attacks of users, spammers, etc.
#bitcoin #LightningNetwork #layer2 #layer3 #rgb #taproot #utxo #privacy
RGB proxy is a server done to facilitate the relay of load data between RGB wallets, having better UX for end user and also avoiding attacks of users, spammers, etc.
#bitcoin #LightningNetwork #layer2 #layer3 #rgb #taproot #utxo #privacy
This feature can be used in the following workflow:
-Payee validates the content of consignment file;
-The payer pots consignment file with UTXO blinded provided by the payee in the invoice;
-The payee asks the proxy server if consignment file is associated to the UXTO blinded;
-Payee validates the content of consignment file;
-The payer pots consignment file with UTXO blinded provided by the payee in the invoice;
-The payee asks the proxy server if consignment file is associated to the UXTO blinded;
(continue here)
-If exist UTXO blinded to the Payee;
-The payee posts message ACK if is ok, but if fail can post a message NACK;
-The payee asks proxy sever about ACK/NACK. If successful will process Bitcoin transaction;
-If exist UTXO blinded to the Payee;
-The payee posts message ACK if is ok, but if fail can post a message NACK;
-The payee asks proxy sever about ACK/NACK. If successful will process Bitcoin transaction;
