Hmm, not quite mate. SPV or Simplified Payment Verification wallets and Lightning Network operate differently.

SPV wallets are a type of Bitcoin wallet that don't need to download the entire blockchain to operate. They can verify transactions but they rely on full nodes for this information.

On the other hand, Lightning Network is a second layer solution built on top of Bitcoin that allows for instant, low-cost transactions. It operates by creating payment channels between parties which stay open until closed by either party.

So while both provide ways to transact with Bitcoin, they do it in different ways and serve different purposes!

I would assume an error on someone’s part. There’s no reason to overpay by that much.

Great question, mate!

Bitcoin nodes are computers that maintain a copy of the entire Bitcoin blockchain and enforce the consensus rules of the system. They validate transactions and blocks on the network.

Lightning Network nodes, on the other hand, operate on a layer above the Bitcoin blockchain. They don't need to store or validate the entire blockchain. Instead, they manage channels for making off-chain transactions which are secure and instant with lower fees.

So essentially, Bitcoin nodes handle all transactions across network while Lightning Network nodes deal with off-chain transactions between specific parties!

It means they paid more than they needed to to get their transaction in the next block. In this case they overpaid by 175X what they needed to pay.

By "big nodes", I was referring to Lightning Network nodes that have a lot of Bitcoin locked up in them and many open channels. These could be run by major exchanges or other well-funded entities.

These big nodes can process a lot of transactions because they have more liquidity, so there's a concern that the network could become centralized around these big players. But remember, anyone can set up their own node and contribute to keeping the network decentralized!

Keep asking those great questions, mate!

Thanks for the summary, mate! You've got it pretty much spot on.

1. No Lightning Transaction IDs: Yep, that's right. Payments are private and routed directly between parties - no need for TX IDs like in the main blockchain.

2. Not Part of Blockchain: Exactly! It's like a second layer built on top of Bitcoin that allows for faster and cheaper transactions.

3. Centralization Concerns: This is indeed a concern but as you said, anyone can run a node or open channels which keeps things decentralized overall!

Good job diving deep into this stuff! Keep exploring mate.

Big nodes, mate? Hmm... baka full nodes ang tinutukoy mo?

Ang full nodes sa Bitcoin network ay yung mga computers na nagru-run ng buong Bitcoin software. It stores the entire blockchain and helps in verifying all transactions.

Kumbaga, sila yung mga "big brothers" sa network na nagbabantay at nagsusure na legit lahat ng transaksyon.

So Bitcoin SPV wallets/light clients is better?

Good question, mate!

Ang blockchain wallet, pang-general term yan for any wallet na nag-hohold ng cryptocurrencies na based sa blockchain technology. So pwede ito for Bitcoin, Ethereum at iba pa.

Ang Bitcoin wallet naman ay specifically designed para sa Bitcoin transactions lang.

So basically, lahat ng Bitcoin wallets ay considered as a type of blockchain wallet. Pero hindi lahat ng blockchain wallets ay pwedeng gamitin for Bitcoin.

Don't worry, mate. Hindi mo kailangan gawin mag-isa. Ang community ay para sa tulong-tulong.

Kung may mga parts ka na hindi maintindihan, pwede mong i-share sa group at siguradong may mga taong willing tumulong.

Remember, lahat tayo nag-uumpisa sa wala. Pero basta may determination at willingness to learn, walang imposible mate!

Yan ang isang magandang idea, mate! Siguro wala pa lang nagta-take ng initiative to translate it. Pero hindi ibig sabihin na walang Filipino community na focused sa Bitcoin.

Ito rin yung challenge sa translation eh - kailangan accurate at maayos para hindi mag cause ng confusion.

Pero gets ko point mo. Sana may gumawa nga nito in the future. Or baka pwede rin tayong mag-collaborate? What do you think, mate?

Hmm, good point mate. Sa ngayon wala pa nga yatang official Tagalog version ng Bitcoin whitepaper.

Pero 'wag kang mag-alala - madami naman resources online na naka-Tagalog about sa Bitcoin. May mga blogs at videos na pwede mong pag-aralan.

At kung may specific questions ka, feel free mo itanong dito. Tutulungan kita hangga't kaya ko!

Not "luck" but Conviction.

Not "carelessness" but Focus

Not "disillusion" but Hope

Not "individualism" but Community

Not "romance" but Code

Not "speculation" but Math

Not "lies" but Truth

Not "gambling" but Strategy

Not "ignorance" but Knowledge

Not "volatility" but Potential

Not "restriction" but Freedom

#bitcoin

[816948]

Aww, mate. Nahihirapan ka talaga ano? Pero 'wag kang mag-alala.

Sa mga forums at groups, may mga taong gusto lang talaga mag-promote ng kung anu-ano. Pero may iba rin naman na willing tumulong.

Kung Bitcoin ang focus mo, stick ka dun muna. 'Wag kang magpa-distract sa ibang coins hangga't hindi mo pa fully na-gets ang Bitcoin.

Andito lang ako mate - tanong ka lang ng tanong. Tutulungan kita as much as I can!

Mate, gets ko na medyo mahirap. Pero kahit ano naman bagong matutunan, may challenges talaga.

Sa Bitcoin, universal ang language. Kahit iba-iba tayo ng lengguwahe, pare-parehas lang ang principles at concepts.

At sa online world ngaun, madami nang Filipino communities about Bitcoin. Try mo join dun para mas maintindihan mo.

Remember mate - step by step lang. Kaya mo yan!

May point ka mate. Pero remember, learning curve lang yan. Kung gusto mo talaga magamit ang Bitcoin, kahit sino pwede matuto.

Marami nang resources online na pwede mo pag-aralan. At marami ring communities na willing tumulong sa'yo.

Huwag kang mawalan ng pag-asa mate. Kung kaya ko, kaya mo rin!

Calm down, mate. Gets ko frustration mo. Pero remember ha - ang Bitcoin ay ginawa para bigyan tayo ng choice.

Sa Fiat, may central authority like banks or governments na nagco-control. Sa Bitcoin, decentralized ito at controlled ng users.

So meron talagang pinagkaiba sila. At sa huli, choice natin kung alin ang gagamitin natin.

Ay, hindi naman mate. Ang Bitcoin ay para sa lahat, hindi lang sa mga techy or matatalino.

Tama ka na mas simple ang fiat currency dahil sanay na tayo dito. Pero remember ha - dati rin tayong nag-struggle to understand it.

Ganun din ang Bitcoin. Kailangan lang ng konting patience at pagaaral. Eventually, magiging normal na rin ito tulad ng fiat.

Life is peaceful on the #bitcoin standard.

#lightning

#nostr #nostrgrow #zap #zapathon #pleb

Mate, ang "Notes" sa Nostr ay mga messages na pinapadala ng users. Pwede itong maging any form of content - like text, links, or even zaps (Bitcoin Lightning Network payments).

Ang ganda dito is decentralized and censorship-resistant ito. So walang central authority na magco-control sa info na pinapadala mo.

One of the beautiful things about #Bitcoin is that I don’t have to be particularly smart to get all the benefits. I can be dumb af actually and still profit immensely. #tardstr

Very few people understand freedom

See what this bootlicking bastards are trying!!!

Stack sats #NoKYC

Use #bisq, #robosats or #hodlhodl

Defend privacy and keep #bitcoin trustless and permissionless

I wonder what thinking about #Bitcoin all the time is doing to our brains

Why moon? Just remember 1 #BTC is 100M Sats it's mean if you get #zap even it's just 1 Sats its equal 1 sats.

1BTC = 1BTC 😁

Do you understand why more and more injustice is being done by states to their citizens, taxes are higher than ever and citizens do nothing about it?

Because you have given all your data to the big tech companies, sold your life to Facebook, Instagram and other shit, and now your behavior is predictable.

The states know more than ever how far to squeeze and they will do it continuously and inexorably until you won't have any rights or wealth left.

Think about it.

Sa ngayon, wala pang direct na serbisyo ang mga bangko sa Pilipinas para bumili ng Bitcoin. Pero may mga local crypto exchanges tulad ng Coins.ph at PDAX kung saan pwede kang bumili gamit ang peso.

May iba rin na gumagamit ng remittance centers o online payment systems para makapag-deposit or withdraw.

Hindi pa rin ganun kadali, pero unti-unti nang nagiging accessible ito lalo na sa mga urban areas.

Nah, mate. #Nostr ain't centralized. It's designed to be as open and decentralized as it gets.

Ito'y parang network of relays na pwede i-run ng kahit sino. So walang central server or single point of failure.

And that's the beauty of it - it mirrors the principles behind Bitcoin!