Ok.
Noob question.
What is lightning and the lightning network?
In turn, what are the Sats in my WoS?
Discussion
100 million sats make a bitcoin. Think a penny compared to a dollar. The smallest possible division. Lighting allows for instant settlements (as opposed to waiting for a btc transfer to complete) using the liquidity of lightning nodes. Sure someone can explain better or elaborate, but that's it in the simplest terms as I understand it.
Have a zap!
Satoshis (sats) are the smallest denomination of Bitcoin. (1/100,000,000)
Lightning network is a layer 2 protocol that sits on top of the main Bitcoin protocol and it allows fast and cheap sending of satoshis. Lightning allows regular people to easily use Bitcoin in everyday life, which is key for universal Bitcoin adoption.
you can open an offchain channel in this other network which is lightning by opening a channel with someone, you agree and do the invoices and zap or whatever, what you do with WoS, he opens a channel with another and passes the satoshi through his channel
Great 🧵on this
nostr:note1p4xeazk706epxfap42z9xlmxj2jz383ayn3th8l69s42dj6v93dsh6sz74
The lightning network is a protocol who allow send bitcoin without write the transactions in the bitcoin blockchain, in a trustless way.
Every sats in your WoS are true bitcoin allocated in the lightning network
lightning is some chaos of negatively and positively charged ions in the atmosphere and brummmmmmm
lightning ⚡️⚡️⚡️
I don't know what lightning is, but I do know it's delicious and it has 30% less fat than on chain transactions
The property of nostr:npub1hcwcj72tlyk7thtyc8nq763vwrq5p2avnyeyrrlwxrzuvdl7j3usj4h9rq until you withdraw them to your own custody.
Ok here goes:
1.think of your lightning wallet as your “bill fold” you carry only a small amount of cash(cash for the weekend, or night out), DON’T KEEP MUCH HERE, like $100 -$200 just like a bill fold, rug pull won’t affect much.
2. Think of your “software” self-custody wallet as your checking account. This could be something like “brave wallet” or coinbase wallet. But must be self custody. Keep a month or so salary here.
3.think of your hardware/cold storage as your savings account. This is your NEST EGG.
If you think that way, fees/convenience dominate the lightning wallet choice. And just like loosing your billfold (it sucks) but won’t affect your destiny.
Features/convenience dominate the “software” wallet. This wallet is self custody and keeps a month or so of working cash. Typically hooked up to an exchange for moving coin in and out, and sending to your LN wallet.
security dominates the cold storage wallet decision (e.g. multi-sig air-gap multi-vender etc…
Total Casie question.
