Would you advise to keep large amounts in a non-custodial lightning wallet? Like say $100k?
Discussion
yes
and similar to if you were managing $100k of BTC on the mainchain, i’d say invest 0.1% of that into setting up your own node. bank yourself
So the future of Bitcoin is lightning, and only lightning, because there is no way a billion people can access their Bitcoin wallet?
Didn’t realise this when I bought Bitcoin in 2013.
We should empty our Bitcoin wallets now because there is no way you’ll be able to access them in the future?
And you do realise that all that BTC will be held by large lightning providers? Concentrated into a few, which are essentially banks, sitting on almost all of the Bitcoin.
do your research
use bitcoin on the mainchain, no-ones stopping you.
if you don’t like lightning, and you want to see a nostr client that only uses standard bitcoin transactions, feel free to make one and propose a NIP.
nostr doesn’t enforce the use of LN in anything, so instead of crying, make something that suits what you want out of nostr
My point is that if 1 billion people adopt Bitcoin the network won’t handle it. It’s not about whether I want to use it, it’s whether there is capacity for a typical social media audience which is typically in the hundreds of millions if not billions.
wrong, lurk moar
Okay I’ll be generous. Let’s say Bitcoin can do 500k tx per day. It would take 5 years for each of 1 billion people to make their first transaction.
Are you saying I am wrong?
lurk moar, you’ll figure it out
Here’s another question for you, you are happy keeping $100k+ on the lightning network which doesn’t have a proof of work immutable ledger?
do you understand how LN works? 😂
I’ve been in Bitcoin for years, completely new Lightning. You aren’t giving me any confidence whatsoever I would want to store my funds there.
It is more insecure (more custodial wallets, more complex node’s, etc…), but its purpose is to serve for daily payments and therefore maintain a lower balance in your wallet. Anyway I agree 👍🏻
Yeah lightning is less secure but it is pretty damn secure. The only way you’d ever have your funds stolen is if your channel counterparty happens to collude with 51% of the hashpower for weeks to censor your justice transaction. Pretty unlikely imo
Yeah, you're wrong and I have a feeling that you want to stay that way because looking at your notes tells me that you just hate Bitcoin.
If you want to know how computer network protocols scale (all of them) then look at the internet. It couldn't scale at its base layer so it needed a second layer and a third, and so on. We are at 7 layers now.
But, again, I suspect you are just here to hate bitcoin and I further suspect that you're just a fucking shitcoiner so fuck straight off.
The future of bitcoin is drivechains after we activate BIP300/301. Check out https://truthcoin.info/blog/thunder
I would not. Keep that in cold storage. In the future there will be fully validating lighting signing hsms. then it will be quite safe.