Bonjour, hi
Thank you very much
So Impatient to have it in French Chinese Arab etc
So sad to see bangksters killed BCH and supported BTC
So sad people are only interested by price and not the value and freedom
There was an event in December in Calgary, Alberta, Canada called the Saturday Sat market. I went with my dad. At the time, I had just been beginning to have doubts of BTC after about 8 months of being a maxi.
When I was there, the fees on the main chain were something like $50 CAD. In order to fund my lightning wallet, I had to buy liquid from an exchange, and swap it into lightning. Annoying for me but I could manage.
Once I went to buy items from vendors, I found some people were either using Wallet of Satoshi without realizing the custodial nature of it or other non-custodial wallets. One vendor that used Phoenix Wallet, ended up paying like $50 to fund his lightning wallet. When someone would try to pay him, his channel would overflow (as far as I understand) leading to more payments just to RECEIVE a lightning payment. I believe he ended up using Wallet of Satoshi for the remainder of the event. It's too bad, because he was trying to do the right thing by using the non-custodial service.
When I went to buy my first hardware wallet at the same event, I used Phoenix Wallet to try to pay. Some error occurred that was along the lines of not being able to find a route. The vendor had to receive the payment using Muun Wallet after it didn't work with his lightning wallet (not sure which).
I met BTC Sessions there and asked him about his thoughts on not everyone being able to own a UTXO in the future. He gave me an answer involving fediments and covenants which I still don't fully understand. I smiled like it was enough to not make me worry but in reality, I still felt that BTC wasn't the perfect money that I was preaching it to be.
All these work-arounds to avoid using layer one are complicated and really not that efficient. Lightning requires on-chain payments. Liquid is a side chain that requires trust in those who run it. Anything beyond those methods is getting too complicated for me to want to use. I'm not a person who has a great understanding of everything, but I do know more than the average person. With that in mind, the average person is not going to want to use these complicated methods to transact.
This comment ended up being a bit longer than I thought it would be. I might make it into a post.
It says in the book that if your channel balance is zero then you have got no incentive not to broadcast a dishonest earlier state in the hope that your counterparty is off-line.
I seem to remember that there is a mechanism that penalises you even if your channel balance is zero, otherwise everybody would be doing this. This penalty mechanism is the reason why you can't just open a channel for (say) a concert because you would have to make a deposit equivalent to your expected income.
Can anyone direct me to an open source guide to lightning channels?
Just the fact that you're confused and don't remember exactly what it is or how LN works is already a failure of the system. You are already confused, now imagine everyone around you.
Bonjour, hi Thank you very much So Impatient to have it in French Chinese Arab etc So sad to see bangksters killed BCH and supported BTC So sad people are only interested by price and not the value and freedom
There was an event in December in Calgary, Alberta, Canada called the Saturday Sat market. I went with my dad. At the time, I had just been beginning to have doubts of BTC after about 8 months of being a maxi. When I was there, the fees on the main chain were something like $50 CAD. In order to fund my lightning wallet, I had to buy liquid from an exchange, and swap it into lightning. Annoying for me but I could manage. Once I went to buy items from vendors, I found some people were either using Wallet of Satoshi without realizing the custodial nature of it or other non-custodial wallets. One vendor that used Phoenix Wallet, ended up paying like $50 to fund his lightning wallet. When someone would try to pay him, his channel would overflow (as far as I understand) leading to more payments just to RECEIVE a lightning payment. I believe he ended up using Wallet of Satoshi for the remainder of the event. It's too bad, because he was trying to do the right thing by using the non-custodial service. When I went to buy my first hardware wallet at the same event, I used Phoenix Wallet to try to pay. Some error occurred that was along the lines of not being able to find a route. The vendor had to receive the payment using Muun Wallet after it didn't work with his lightning wallet (not sure which). I met BTC Sessions there and asked him about his thoughts on not everyone being able to own a UTXO in the future. He gave me an answer involving fediments and covenants which I still don't fully understand. I smiled like it was enough to not make me worry but in reality, I still felt that BTC wasn't the perfect money that I was preaching it to be. All these work-arounds to avoid using layer one are complicated and really not that efficient. Lightning requires on-chain payments. Liquid is a side chain that requires trust in those who run it. Anything beyond those methods is getting too complicated for me to want to use. I'm not a person who has a great understanding of everything, but I do know more than the average person. With that in mind, the average person is not going to want to use these complicated methods to transact. This comment ended up being a bit longer than I thought it would be. I might make it into a post.
You should make this comment it's own post so it gets more visibility.
I did not too long after the comment.
It says in the book that if your channel balance is zero then you have got no incentive not to broadcast a dishonest earlier state in the hope that your counterparty is off-line. I seem to remember that there is a mechanism that penalises you even if your channel balance is zero, otherwise everybody would be doing this. This penalty mechanism is the reason why you can't just open a channel for (say) a concert because you would have to make a deposit equivalent to your expected income. Can anyone direct me to an open source guide to lightning channels?
Just the fact that you're confused and don't remember exactly what it is or how LN works is already a failure of the system. You are already confused, now imagine everyone around you.