Can I hop on a call with someone well versed in Lightning? I’m trying to help someone understand and it’s a very unique and specific person.

Got to talking with my Uber driver and he understands Bitcoin. He brought up the ETFs, the halving, he’s got a good grasp on it. He thinks that the main value is going to come from it being a medium of exchange. That’s not the main kicker though…

Unfortunately… Somehow he came to the conclusion that XRP was the scaling solution. We’ll talk about that later, but it turns out he doesn’t know what LN is. Because of his base knowledge, explaining it to him was very difficult because he thought of LN as sort of a… token? He couldn’t understand how it was Bitcoin and I couldn’t explain it either in the short period of time.

The dude is awesome. He seems extremely open to learning. He was never “Oh you’re dumb for not being in XRP” or “XRP is the next big moon” and THANK GOD he did not just push false hopium facts. We exchanged contact information and I’m talking with him later but I need some assistance.

I wanna talk to him about other things like Liquid too but I think Lightning might be the first thing he needs to hear. Dead ass wanna talk to someone tonight because I think there’s hope for this pleb and he was mistakenly steered down the wrong path.

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Im not a hyper guru but I have a decent understanding if no one else is available.

You can say it's more like locked bitcoin. But there's no token. Rather, it's locked between two users and only those two users. When two users agree to lock up bitcoin, this creates a channel. Both users run nodes which tracks how much of the locked bitcoin each user owns (how much of the channel liquidity is attributed to which user) LN runs off a network of connected channels that allows lightning to work.

A connects with B. Then B connects with C. Through B as an intermediary, A can now send to C.

This is a good way of saying it.

I believe he'll understand LN as along as he conprehends the base layer vs 2nd layer concepts

I can do this tatem.

With l1 fees this high, I wouldn’t recommend self custodial lightning to any beginner.

I would just set him up with Wallet of Satoshi wallet. Or another custodial wallet.

Can you still get that. I still have mine (with the understanding I can lose my 20 bucks), but think US folks no longer can

There’s other custodial options like alby wallet

The key thing to understand is why LN exists in the first place. On layer 1 (BTC blockchain), for large transactions there are no concerns with transaction fees. For smaller transactions like buying a candy bar or a cup of coffee, the transaction fee will likely be higher than the item being purchased. So small transactions do not make sense on layer 1.

Lightning Network is there to support small transactions and the transaction fee is so small it not worth considering. This is a layer 2 protocol. Funds must be transferred from a layer 1 wallet to a layer 2 wallet.

Wait there is one more layer to consider. Layer 3 'ecash'. Biggest reason for layer 3 (ecash) is privacy.

For the most part, all layer 2 and layer 3 software is in beta mode and everyone is warned not to store large amounts in these developing solutions.