it's very silly to say the term "darknet market" means something other than "a market on the darknet" just so you can ignore robosats & bisq, who face the exact same risks as other DNMs but rely on LN's privacy to avoid getting caught
it's also silly for you to ignore this DNM: http://ikduzlpwcc4khvj27rlywgic6eaxj5w3brj4uo54z2sfyj7b2hfrepyd.onion
This one does: http://ikduzlpwcc4khvj27rlywgic6eaxj5w3brj4uo54z2sfyj7b2hfrepyd.onion
LN is also an accepted payment method on robosats and bisq, and p2p exchanges are treated identically to DNMs by governments
No, my node is off pretty much all the time, I just turn it on when I need to make a payment
Though in order not to have to trust my counterparty, I do have to "check in" (i.e. open the wallet) once every two weeks or trust a watchtower
Sending AND receiving now work in my channel factory demo 🤯
Picture this:
- Mining fees cost $10 for a standard-size tx
- But 50 users can get on LN via just 1 standard-sized tx
- To pay the $10 total, each user pays 20¢
Learn more at BTC++ Floripa!
List of exchanges that implemented lightning:
>I don't understand this and need someone to explain it like I'm 10
I will explain it to you like you're an adult: it's similar to how onion messaging works. You send an encrypted message to party K, who finds inside an encrypted message for party L. He sends it to party M, who finds an encrypted message inside for party N. And so on. No party knows who the sender is except the sender themselves.
>Starting address and amount ->hops to node still same transaction nothing is hidden
Lots of stuff is hidden: the routing node does not know who the sender or recipient is, nor if the amount is the full amount, a partial amount, or a decoy (aka a payment probe).
-> next node same transaction two nodes now hiding start point
It's not just that "two nodes" are hiding the starting point; the first routing node does not know if the previous person is the sender or just another routing node. So from his perspective there might be *any number* of nodes hiding the starting point. What hides the starting point is that you can't tell a starting point from another routing node.
> To me even though the node hops and the start point maybe hidden the BTC is still able to be traced back to the original address that started the transaction right?
No. Just like with onion messaging, routing nodes can ask one another if they routed the payment, and maybe some will collude and reply "yes, I helped route the payment." But even if all routing nodes collude, they can only ask the sender "Did you help route the payment?" and if he does not reply, they don't know if he was the sender or just a routing node who refuses to collude.
Monero has less privacy by default than lightning
By default, in monero, the sender is unencrypted, the recipient is unencrypted, the amount is only partially encrypted, the transaction is published for all to see, and p2p traffic is not encrypted.
By default, on lightning, everything is fully encrypted (sender, recipient, amount, and p2p traffic) and the transaction is never published.
It works like onion messages. Before bolt12, by default, you send someone money by creating a path to their node: Alice pays Bob to pay Carol to pay Dave to pay Edna to pay Filbert. Filbert's invoice tells Alice how to construct a path to his node, and consequently Alice can find Filbert's node on the network, and construct a path to him.
With bolt12, the default way to send money is by creating a paty to a "rendezvous" node: Alice pays Bob to pay Carol to pay Dave...but she doesn't know anything beyond that. Filbert's node is talking to Dave waiting for him to say "I've got a message for you, but I don't know who it's from." (But it's from Alice.) Filbert's node then decrypts/reads the message and tells Dave "you should have a payment from someone that is meant to come to me. Let's finish the route." And then they finish the route together (Dave -> Edna -> Filbert) and settle the payment.
By this method, Alice never learns where Filbert's node is on the network and does not know where she sent the money. Also, lightning payments are atomic, so this is all done without ever letting any routing node (Bob, Carol, Dave, or Edna) ever have custody of the funds. Each routing node can either forward the payment or cancel the payment, but not keep the payment for themselves.
Monero's weaknesses are why it is compromised:
- timing attacks
- merge analysis
- recency bias
- unencrypted recipients
- unencrypted senders
- amounts only partially encrypted
- all transactions permanent & public
- senders know where they sent their money to
LN is just so much better
You cry on the internet and shout and should be ashamed of yourself
1) show me where he actually linked that video. he didn't (and wont) because ot plays like a monero commercial.
2) here is that video. actually watch it and you'll see that they CANNOT "trace monero transactions." unless someone has connections to their malicious node without a proxy they aren't getting significant data about a sender.
https://v.nostr.build/D4Nzp22vRF35IRnz.mp4
3) you have no idea, as an end user , what privacy protections you are getting in any given LN tx. bolt12 is awesome and I look forward to to actually being functional tech. Until it is implemented and battle tested, it is NOT a privacy solution.
> you have no idea, as an end user , what privacy protections you are getting in any given LN tx
Still looking for an LN tx? All day I've been asking monero users to show me an LN transaction and identify the sender, recipient, and amount. So far they haven't even found a *transaction to analyze.* Care to step up?
1) show me where he actually linked that video. he didn't (and wont) because ot plays like a monero commercial.
2) here is that video. actually watch it and you'll see that they CANNOT "trace monero transactions." unless someone has connections to their malicious node without a proxy they aren't getting significant data about a sender.
https://v.nostr.build/D4Nzp22vRF35IRnz.mp4
3) you have no idea, as an end user , what privacy protections you are getting in any given LN tx. bolt12 is awesome and I look forward to to actually being functional tech. Until it is implemented and battle tested, it is NOT a privacy solution.
I linked to the video here: nostr:nevent1qgszrqlfgavys8g0zf8mmy79dn92ghn723wwawx49py0nqjn7jtmjagqyz8k23pc2ya8gjx5xdfludr2sj4mrs3lfqlwskc34n7w2whce757kngz4v8
It's not a monero commercial, it's a nail in monero's coffin
Kanzan and his friends right now:
Context:
Finnish feds trace xmr: https://cointelegraph.com/news/finnish-authorities-traced-monero-vastaamo-hack
Japanese feds too: https://cointelegraph.com/news/monero-transactions-japanese-authorities-arrest-18-scammers
Ciphertrace explains how they trace monero: https://v.nostr.build/D4Nzp22vRF35IRnz.mp4
Popular monero wallets accidentally doxing users & their monero txs to chainalysis: https://digilol.net/blog/chainanalysis
The article you cited states that 1 billion channels per year are possible
Peter Todd got similar numbers:
https://x.com/peterktodd/status/1813928457946153056
Thanks to channel factories, we can do even better
Lightning scales really well
by just sending bitcoin transactions
miners don't need to know anything's going on, they just keep on mining transactions that pay them fees and that's all bitvm needs
> "run your own lightning node" doesn't scale
Yes it does
> what did the lightning devs say about blocksize?
they said a bunch of nonsense, but they know better know
it leverages bitcoin's decentralization and miners have no idea about it
I applied, we'll see what happens