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First thing you need to understand that you have Bitcoin on the base layer (onchain), and you have Bitcoin on the 2nd layer (Lightning).

Onchain is slower (transactions are processed in blocks, generally 10 minutes apart) and more expensive. You send a transaction via your wallet, and confirm it with your key.

Lightning is fast and cheap. When using a Lightning wallet you can send to anyone else with a Lightning wallet by scanning a QR code and confirming with your pincode.

You can sell BTC on exchanges by sending it there or you can sell it Peer-2-peer via services like Peach, Robosats etc

charisma_ni_zandro 2y ago

Can you connect your Bitcoin Address to your Bitcoin-Lightning address?

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Discussion

Purple Horse 2y ago

No. You can create a Lightning channel to someone if you have a Bitcoin / Lightning node. Basically what you do is you make an onchain agreement for a specific amount and you can then send Bitcoin via Lightning until you close that channel. You can have more channels with more people.

Or you can swap onchain Bitcoin to Bitcoin on Lightning if someone likes to do that peer-2-peer or use a wallet like MuunWallet which does so called ‘submarine-swaps’. In MuunWallet you can send / receive Onchain Bitcoin transaction and out of that same wallet do Lightning transactions as well. The fee for Lightning transactions are higher than real Lightning wallets though because of the swaps. But it’s an easy to use portal to convert onchain to Lightning and vice-versa

charisma_ni_zandro 2y ago

Lightning channel/Lightning Nodes/Lightning Address/Lightning Networks?Aside from Bitcoin Address and so forth...Arent these intoxicating for us in the 3rd world don't you think?How many Lightning Networks are there?AAre they not part of Bitcoin-Lightning network?

Anyway o received another Sats from i dont know who and just want to also say thank you...

Purple Horse 2y ago

It feels overwhelming at first, I agree. But you can always dive in deeper.

Want to keep it basic? Just use Lightning which is low-cost, fast, non-technical (unless you want to run a node yourself). It doesn’t cost anything, just download a Lightning wallet and you’re ready to go. It’s free, open and always available. There is only 1 Lightning network and by downloading an app like BlueWallet, MuunWallet, Wallet of Satoshi, Alby etc etc you can be part of it, pay with it and receive money with it. See this as your checking account

Want to save for the future? Take real self-custody? Then go for onchain. It’s a bit more difficult to grasp at first, but it’s the safest way to safe your wealth. See this as your savings account

davies 2y ago

And it will get easier over time as smart folk build better products and services with great UX. We are the early adopters.

charisma_ni_zandro 2y ago

We are Late in the Philippines!

Purple Horse 2y ago

Nope: you’re still early. The world is not prepared for what Bitcoin will do in the coming decade. It will completely transform the world… You. Are. Early!

charisma_ni_zandro 2y ago

Yeah,probably...but i may not be alive then witnessing that...

charisma_ni_zandro 2y ago

On bitcoinexplorer.org, i see a miner (mining pool) the named Patoshi?Why is he/she not active or not seen like the more popular mining pools like binance/luxor/foundry/etc.,and why is Patoshi rarely mentioned on mainstream?What are Patoshi Blocks?