I've seen a lot of people make bitcoin payments between nodeless and btcpayserver.
Majority of people make payments directly from their exchange accounts. (Lol)
Binance adding lightning is a way bigger deal than people are making it out to be.
Millions of people are now able to withdraw and make payments through lightning, this is huge for the ecosystem.
And you know who we have to thank?
Ordinals π¬
fuck you and binance, when binance sells their paper bitcoin i will buy it from them
Fuck you too π«‘
Wait⦠how did ordinals get Binance to finally implement light? I might have missed something
They filled up all the blocks and jacked up the fees for a while
During the huge fee spike, Binance had to pause withdrawals and they committed at that time to implement lightning
π€£π€£ In that case, this would be my framing:
β’ I thank Lightning for being valuable
β’ I thank the devs and the community for the grinding build out and implementations that made it the best option when conditions were right.
β’ And I thank the users for voicing their frustrations
But I have a hard time *thanking* ordinals. It would kinda be like thanking the guy who smeared shit on your house for finally convincing your spouse to put up a fence. π€£
Withdraw to lightning and do what? You still need to swap it to BTC to put it in cold storage
It will allow people to make payments directly from their exchange accounts or take custody in their self custodial Phoenix or mutiny wallets β‘π
βself custodialβ with the seeds in your phone. Right.
Yes, it is self custodial. It's just not cold.
You don't have a hot wallet you use to make payments?
Yes but you self custody in a hot wallet?
Yes. I have several lightning nodes. I have the keys to all of them. They are hot and always online.
In your view this isn't self custody?
If the bitcoin is locked in a multi sign channel, it is safe. I donβt keep a lot of bitcoin in lightning wallet even for payment. To me there is no difference between a custodial and a non custodial lightning wallet. They are both vulnerable to hacks.
Multi sig
There is a tremendous difference between the two. Most people lose coins because their custodian rugs, not because of hacks.
Exchanges get hacked a lot and lot of people get sim swapped also. Either way Binance enabling lightning withdrawal doesnβt mean you should keep you bitcoin in a non custodial lightning wallet.
Agreed, if it showcases LN enough to move most payments there and clear the mempool again once in a while.
Otherwise, ordinals demand makes even LN node operations more expensive and uncertain.
( Have a unilateral close stuck because of them now. Might never close. So, thanks for nothing.)
That essentially also incentive people not to withdraw from binance for self-custody.
"We can keep everything on Binance and also pay for things with LN... yeahhhh"
Binance will be the biggest bank in the world soon if they not already.
