For reference https://github.com/lndk-org/lndk
5 reasons miners benefit from Stratum v2:
1. Authentication and encryption. Don't let your hash rate be stolen. Even if you aren't concerned about this, your auditors and investors likely will be.
2. Less bandwidth-intensive protocol (binary vs. JSON); reduce stale shares and works better in poor internet situations
3. Ensure your pool isn't inserting transactions and not sharing out-of-band fee payments. It is becoming more topical with the increase in usage of transaction accelerators and non-standard transaction inclusion. Eliminate the requirement to have to monitor your pool.
4. Ensure you're selecting the transactions that provide the maximum fees. Don't leave it to others who may censor certain high fee transactions. Eliminate the requirement to have to monitor your pool.
5. Take charge of the bitcoin software you run and consensus rules. Don't leave it to others to determine whether or not to signal for support of a particular change or to take the risk of falling out of consensus. Eliminate the requirement to have to monitor your pool.
BIP 353
Agree. Thoughts on how to make choosing a mint seamless for users ideally making it a default for them?
Oh, well I don't think the point that LN has found product market fit as the open payment protocol has been discussed hardly at all, so I wanted to start the conversation. The fact LN is enabling nostr zaps is super cool but not in and of itself a demonstration of it being the open payment protocol. It is the emergence of Fedimint and Cashu e-cash systems that largely demonstrate that LN is becoming that as well as Ark and statechains support for LN as OPP.
I sense from your responses that your hope is LN will offer near-zero fees while also being non-custodial with an economically viable unilateral exit. I understand it was sold this way by some folks but it isn't reality. LN's fees are a function of on-chain fees, which are going to be volatile and will continue to increase over time.
There are efforts to try and share UTXOs with more people which would allow for amortizing these costs over more people. This is awesome R&D, and I hope to see more of it. But so far, I've yet to see a design that doesn't result in some other tradeoff, such as a vastly more expensive unilateral exit or some other trust assumption.
I'm also not sure if you're understanding the point I'm trying to make. I'm saying LN has already succeeded at product market fit, but for something other than what you're imagining. I'm not saying it offers no/low fee non-custodial payments, but I am instead saying it is THE open payment protocol, connecting not only non-custodial LN wallets and custodial LN wallets but also wallets that use entirely different designs such as Fedimint, Cashu, Ark, and statechains. All of these different solutions already support LN as the open payment protocol. There's evidence that indicates LN solves that problem. Hence, product-market fit.
As for bitcoin as p2p currency, you're free to move on, but I'm going to continue working toward that as a north star. Each and every year we'll inch closer toward that, but we also shouldn't shy away from practical, useful products and designs that work today and are moving toward that north star.
Any user of, for example, Phoenix, Mutiny, Cash App, Coinbase, a Cashu wallet, Fedi, etc. can seamlessly pay each other and not even understand each of those represents very different tradeoffs and have completely different designs. What they have in common is using bitcoin as money and LN as the open payment protocol.
If you don't like paying 0.4% fees for a non-custodial mobile LN wallet, then you have the option of using a custodial or e-cash wallet to avoid the fees along with the associated tradeoffs.
Yes, we'd all love a wallet design that supports 8B people, has no fees, is as censorship-resistant and security as on-chain bitcoin, but that doesn't exist today.
Impressive. Just the pull-ups alone!
Yes I've used many and support many who are adopting LDK. I think Phoenix is the best UX with reasonable fees but it is no longer available to me. I like Mutiny as well and it is my preferred non-custodial LN wallet, but they've had problems with their LSP scaling. It is all very early.
Even once all the kinks are worked out, there are fundamental challenges with a LN wallet that make it impractical for small amount spending wallets (eg $20 balance) that are used to zap in nostr or on Stacker News.
There are other solutions such as e-cash that don't have that problem, but e-cash systems make other tradeoffs. Thus back to my original point, which is there's no single solution that serves everyone's payment needs. The good news is there are many solutions in the works, and LN is the open payment protocol connecting them all so users of different systems can seamlessly pay each other. It is quite beautiful.
The secret sauce I refer to is LN as the connective tissue or glue between systems. I'm asserting it is unique in its ability to instantly settle payments between disparate systems.
I'm not under a rock, and I'm sorry to break it to you, but no cryptocurrency has solved scaling. There's no silver bullet solutions. There are only tradeoffs. LN is _unique_ in that it interconnects these different solutions.
Contrast this with, say, USDC, in which there's no interoperability between the plethora of platforms that support USDC. If you have USDC on Base, try sending it to a Kraken wallet. If you have USDC on SOL in a Phantom wallet, try sending it to a Metamask user.
Are you suggesting I don't post my thoughts on nostr? nostr:npub180cvv07tjdrrgpa0j7j7tmnyl2yr6yr7l8j4s3evf6u64th6gkwsyjh6w6 seemed happy that I was posting here.
There are various solutions all with tradeoffs. The LN interconnects all of them. https://primal.net/e/note14gy37hq462t07ud60qyt0vd76kntxcthxvuem32unzl6qqq4djlsr4gx2t
For non-custodial LN wallets, liquidity ads and the LSP spec are liquidity management solutions (realized in code such as https://github.com/lightningdevkit/lightning-liquidity and by services such as Voltage and Olympus).
Ark and statechain-based solutions take different approaches.
Yet other solutions such as Fedimint and Cashu, or Cash App and Coinbase, because they're custodial/pooled funds, avoid those challenges altogether.
There is yet to be a silver bullet scaling solution for cryptocurrency. Instead, what we have for now, and possibly for a long long time, are many solutions each with distinct tradeoffs that will match different user needs.
The secret sauce to making this all work is LN.
nostr:note1an99hwm4lgpesgmvl0jn7zf55z2tamyq8vg758rgy2h4l6ydrkkseejy4g