Bitcoin client Bitcoinj implements bitcoin micropayments

Bitcoin - The Currency of the Internet

A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.

Hedera Hashgraph

Hedera Hashgraph is a decentralized public network where developers can build secure, fair applications with near real-time consensus.

[ANNOUNCEMENT] We are launching Streamium! Streaming p2p video combined with bitcoin micropayment channels. Broadcast video and get paid in real time on a per-second basis with no middlemen. 100% free. 100% open source.

submitted by iwantathink to Bitcoin [link] [comments]

Phase 1 of Mike Hearn's "Hourglass" app is 95% funded by pledges. Hourglass would enable you to "easily pay someone else on a rolling, per second basis using Bitcoin micropayment channels"

submitted by punkrampant to Bitcoin [link] [comments]

Scalable Funding of Bitcoin Micropayment Channel Networks [PDF]

submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Scalable Funding of Bitcoin Micropayment Channel Networks

submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Scalable Funding of Bitcoin Micropayment Channel Networks [PDF]

submitted by BobAlison to Bitcoin [link] [comments]

Grid Computing with Bitcoin Micropayment Channels

Grid Computing with Bitcoin Micropayment Channels submitted by cryptoz to Bitcoin [link] [comments]

Grid Computing with Bitcoin Micropayment Channels

Grid Computing with Bitcoin Micropayment Channels submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Hourglass is a specialised Bitcoin wallet that allows you to easily pay someone else on a rolling, per second basis using Bitcoin micropayment channels.

This would be an amazing use case for bitcoin - can't be done with fiat- needs our support on lighthouse:
submitted by latetot to Bitcoin [link] [comments]

Rationale Test: Discussion of bitcoin micropayment channels…from the guy who invented Ethereum. Ban it or not? /r/btc already banned it. What does /r/bitcoin think?

Rationale Test: Discussion of bitcoin micropayment channels…from the guy who invented Ethereum. Ban it or not? /btc already banned it. What does /bitcoin think? submitted by valerian253 to Bitcoin [link] [comments]

Hourglass is a specialised Bitcoin wallet that allows you to easily pay someone else on a rolling, per second basis using Bitcoin micropayment channels.

submitted by latetot to Bitcoin [link] [comments]

⚡ Lightning Network Megathread ⚡

Last updated 2018-01-29
This post is a collaboration with the Bitcoin community to create a one-stop source for Lightning Network information.
There are still questions in the FAQ that are unanswered, if you know the answer and can provide a source please do so!

⚡What is the Lightning Network? ⚡


Image Explanations:

Specifications / White Papers


Lightning Network Experts on Reddit

  • starkbot - (Elizabeth Stark - Lightning Labs)
  • roasbeef - (Olaoluwa Osuntokun - Lightning Labs)
  • stile65 - (Alex Akselrod - Lightning Labs)
  • cfromknecht - (Conner Fromknecht - Lightning Labs)
  • RustyReddit - (Rusty Russell - Blockstream)
  • cdecker - (Christian Decker - Blockstream)
  • Dryja - (Tadge Dryja - Digital Currency Initiative)
  • josephpoon - (Joseph Poon)
  • fdrn - (Fabrice Drouin - ACINQ )
  • pmpadiou - (Pierre-Marie Padiou - ACINQ)

Lightning Network Experts on Twitter

  • @starkness - (Elizabeth Stark - Lightning Labs)
  • @roasbeef - (Olaoluwa Osuntokun - Lightning Labs)
  • @stile65 - (Alex Akselrod - Lightning Labs)
  • @bitconner - (Conner Fromknecht - Lightning Labs)
  • @johanth - (Johan Halseth - Lightning Labs)
  • @bvu - (Bryan Vu - Lightning Labs)
  • @rusty_twit - (Rusty Russell - Blockstream)
  • @snyke - (Christian Decker - Blockstream)
  • @JackMallers - (Jack Mallers - Zap)
  • @tdryja - (Tadge Dryja - Digital Currency Initiative)
  • @jcp - (Joseph Poon)
  • @alexbosworth - (Alex Bosworth -

Medium Posts

Learning Resources


Desktop Interfaces

Web Interfaces

Tutorials and resources

Lightning on Testnet

Lightning Wallets

Place a testnet transaction

Altcoin Trading using Lightning

  • ZigZag - Disclaimer You must trust ZigZag to send to Target Address

Lightning on Mainnet

Warning - Testing should be done on Testnet

Atomic Swaps

Developer Documentation and Resources

Lightning implementations

  • LND - Lightning Network Daemon (Golang)
  • eclair - A Scala implementation of the Lightning Network (Scala)
  • c-lightning - A Lightning Network implementation in C
  • lit - Lightning Network node software (Golang)
  • lightning-onion - Onion Routed Micropayments for the Lightning Network (Golang)
  • lightning-integration - Lightning Integration Testing Framework
  • ptarmigan - C++ BOLT-Compliant Lightning Network Implementation [Incomplete]


Lightning Network Visualizers/Explorers



Payment Processors

  • BTCPay - Next stable version will include Lightning Network




Slack Channel

Discord Channel


⚡ Lightning FAQs ⚡

If you can answer please PM me and include source if possible. Feel free to help keep these answers up to date and as brief but correct as possible
Is Lightning Bitcoin?
Yes. You pick a peer and after some setup, create a bitcoin transaction to fund the lightning channel; it’ll then take another transaction to close it and release your funds. You and your peer always hold a bitcoin transaction to get your funds whenever you want: just broadcast to the blockchain like normal. In other words, you and your peer create a shared account, and then use Lightning to securely negotiate who gets how much from that shared account, without waiting for the bitcoin blockchain.
Is the Lightning Network open source?
Yes, Lightning is open source. Anyone can review the code (in the same way as the bitcoin code)
Who owns and controls the Lightning Network?
Similar to the bitcoin network, no one will ever own or control the Lightning Network. The code is open source and free for anyone to download and review. Anyone can run a node and be part of the network.
I’ve heard that Lightning transactions are happening “off-chain”…Does that mean that my bitcoin will be removed from the blockchain?
No, your bitcoin will never leave the blockchain. Instead your bitcoin will be held in a multi-signature address as long as your channel stays open. When the channel is closed; the final transaction will be added to the blockchain. “Off-chain” is not a perfect term, but it is used due to the fact that the transfer of ownership is no longer reflected on the blockchain until the channel is closed.
Do I need a constant connection to run a lightning node?
Not necessarily,
Example: A and B have a channel. 1 BTC each. A sends B 0.5 BTC. B sends back 0.25 BTC. Balance should be A = 0.75, B = 1.25. If A gets disconnected, B can publish the first Tx where the balance was A = 0.5 and B = 1.5. If the node B does in fact attempt to cheat by publishing an old state (such as the A=0.5 and B=1.5 state), this cheat can then be detected on-chain and used to steal the cheaters funds, i.e., A can see the closing transaction, notice it's an old one and grab all funds in the channel (A=2, B=0). The time that A has in order to react to the cheating counterparty is given by the CheckLockTimeVerify (CLTV) in the cheating transaction, which is adjustable. So if A foresees that it'll be able to check in about once every 24 hours it'll require that the CLTV is at least that large, if it's once a week then that's fine too. You definitely do not need to be online and watching the chain 24/7, just make sure to check in once in a while before the CLTV expires. Alternatively you can outsource the watch duties, in order to keep the CLTV timeouts low. This can be achieved both with trusted third parties or untrusted ones (watchtowers). In the case of a unilateral close, e.g., you just go offline and never come back, the other endpoint will have to wait for that timeout to expire to get its funds back. So peers might not accept channels with extremely high CLTV timeouts. -- Source
What Are Lightning’s Advantages?
Tiny payments are possible: since fees are proportional to the payment amount, you can pay a fraction of a cent; accounting is even done in thousandths of a satoshi. Payments are settled instantly: the money is sent in the time it takes to cross the network to your destination and back, typically a fraction of a second.
Does Lightning require Segregated Witness?
Yes, but not in theory. You could make a poorer lightning network without it, which has higher risks when establishing channels (you might have to wait a month if things go wrong!), has limited channel lifetime, longer minimum payment expiry times on each hop, is less efficient and has less robust outsourcing. The entire spec as written today assumes segregated witness, as it solves all these problems.
Can I Send Funds From Lightning to a Normal Bitcoin Address?
No, for now. For the first version of the protocol, if you wanted to send a normal bitcoin transaction using your channel, you have to close it, send the funds, then reopen the channel (3 transactions). In future versions, you and your peer would agree to spend out of your lightning channel funds just like a normal bitcoin payment, allowing you to use your lightning wallet like a normal bitcoin wallet.
Can I Make Money Running a Lightning Node?
Not really. Anyone can set up a node, and so it’s a race to the bottom on fees. In practice, we may see the network use a nominal fee and not change very much, which only provides an incremental incentive to route on a node you’re going to use yourself, and not enough to run one merely for fees. Having clients use criteria other than fees (e.g. randomness, diversity) in route selection will also help this.
What is the release date for Lightning on Mainnet?
Lightning is already being tested on the Mainnet Twitter Link but as for a specific date, Jameson Lopp says it best
Would there be any KYC/AML issues with certain nodes?
Nope, because there is no custody ever involved. It's just like forwarding packets. -- Source
What is the delay time for the recipient of a transaction receiving confirmation?
Furthermore, the Lightning Network scales not with the transaction throughput of the underlying blockchain, but with modern data processing and latency limits - payments can be made nearly as quickly as packets can be sent. -- Source
How does the lightning network prevent centralization?
Bitcoin Stack Exchange Answer
What are Channel Factories and how do they work?
Bitcoin Stack Exchange Answer
How does the Lightning network work in simple terms?
Bitcoin Stack Exchange Answer
How are paths found in Lightning Network?
Bitcoin Stack Exchange Answer
How would the lightning network work between exchanges?
Each exchange will get to decide and need to implement the software into their system, but some ideas have been outlined here: Google Doc - Lightning Exchanges
Note that by virtue of the usual benefits of cost-less, instantaneous transactions, lightning will make arbitrage between exchanges much more efficient and thus lead to consistent pricing across exchange that adopt it. -- Source
How do lightning nodes find other lightning nodes?
Stack Exchange Answer
Does every user need to store the state of the complete Lightning Network?
According to Rusty's calculations we should be able to store 1 million nodes in about 100 MB, so that should work even for mobile phones. Beyond that we have some proposals ready to lighten the load on endpoints, but we'll cross that bridge when we get there. -- Source
Would I need to download the complete state every time I open the App and make a payment?
No you'd remember the information from the last time you started the app and only sync the differences. This is not yet implemented, but it shouldn't be too hard to get a preliminary protocol working if that turns out to be a problem. -- Source
What needs to happen for the Lightning Network to be deployed and what can I do as a user to help?
Lightning is based on participants in the network running lightning node software that enables them to interact with other nodes. This does not require being a full bitcoin node, but you will have to run "lnd", "eclair", or one of the other node softwares listed above.
All lightning wallets have node software integrated into them, because that is necessary to create payment channels and conduct payments on the network, but you can also intentionally run lnd or similar for public benefit - e.g. you can hold open payment channels or channels with higher volume, than you need for your own transactions. You would be compensated in modest fees by those who transact across your node with multi-hop payments. -- Source
Is there anyway for someone who isn't a developer to meaningfully contribute?
Sure, you can help write up educational material. You can learn and read more about the tech at You can test the various desktop and mobile apps out there (Lightning Desktop, Zap, Eclair apps). -- Source
Do I need to be a miner to be a Lightning Network node?
No -- Source
Do I need to run a full Bitcoin node to run a lightning node?
lit doesn't depend on having your own full node -- it automatically connects to full nodes on the network. -- Source
LND uses a light client mode, so it doesn't require a full node. The name of the light client it uses is called neutrino
How does the lightning network stop "Cheating" (Someone broadcasting an old transaction)?
Upon opening a channel, the two endpoints first agree on a reserve value, below which the channel balance may not drop. This is to make sure that both endpoints always have some skin in the game as rustyreddit puts it :-)
For a cheat to become worth it, the opponent has to be absolutely sure that you cannot retaliate against him during the timeout. So he has to make sure you never ever get network connectivity during that time. Having someone else also watching for channel closures and notifying you, or releasing a canned retaliation, makes this even harder for the attacker. This is because if he misjudged you being truly offline you can retaliate by grabbing all of its funds. Spotty connections, DDoS, and similar will not provide the attacker the necessary guarantees to make cheating worthwhile. Any form of uncertainty about your online status acts as a deterrent to the other endpoint. -- Source
How many times would someone need to open and close their lightning channels?
You typically want to have more than one channel open at any given time for redundancy's sake. And we imagine open and close will probably be automated for the most part. In fact we already have a feature in LND called autopilot that can automatically open channels for a user.
Frequency will depend whether the funds are needed on-chain or more useful on LN. -- Source
Will the lightning network reduce BTC Liquidity due to "locking-up" funds in channels?
Stack Exchange Answer
Can the Lightning Network work on any other cryptocurrency? How?
Stack Exchange Answer
When setting up a Lightning Network Node are fees set for the entire node, or each channel when opened?
You don't really set up a "node" in the sense that anyone with more than one channel can automatically be a node and route payments. Fees on LN can be set by the node, and can change dynamically on the network. -- Source
Can Lightning routing fees be changed dynamically, without closing channels?
Yes but it has to be implemented in the Lightning software being used. -- Source
How can you make sure that there will be routes with large enough balances to handle transactions?
You won't have to do anything. With autopilot enabled, it'll automatically open and close channels based on the availability of the network. -- Source
How does the Lightning Network stop flooding nodes (DDoS) with micro transactions? Is this even an issue?
Stack Exchange Answer

Unanswered Questions

How do on-chain fees work when opening and closing channels? Who pays the fee?
How does the Lightning Network work for mobile users?
What are the best practices for securing a lightning node?
What is a lightning "hub"?
How does lightning handle cross chain (Atomic) swaps?

Special Thanks and Notes

  • Many links found from awesome-lightning-network github
  • Everyone who submitted a question or concern!
  • I'm continuing to format for an easier Mobile experience!
submitted by codedaway to Bitcoin [link] [comments]

Killer app for bitcoin: Incentivized Meshnets

Hey reddit, asking for feedback here, I'll keep it short. Been playing around with meshnets for a bit now, kept running into the issue of how to incentivize people who didn't understand/care about internet topology to run a meshnode. Enter bitcoin micropayment channels. The idea is each meshnode would act as a data merchant, buying packets from upstream and selling them downstream. This would put a selective pressure on nodes to distribute themselves efficiently, would allow for poor people to make money just by carrying a meshnode around in strategic locations, could maybe even allow for bloggers/news websites to charge tiny amounts to view their website without inconveniencing users, since the trustless micropayment system would be automatic. Oh, and it could dissolve ISP monopolies.
Architecture overview: hack Byzantium (one-click meshnode linux flavor) to use bitcoin micropayments, put it on a raspberry pi (the byzantium folks have already ported it), expose a simple web interface for the user to set their bitcoin address to make it basically plug and play.
Relevant links:
Thanks for reading! Now tell me why it won't work, so we can fix it
submitted by ganesha1024 to Bitcoin [link] [comments]

Epic 1-hour video w/ Vitalik Buterin on bitcoin, Ethereum, and Cryptoeconomics | TheProtocol.TV

Full interview -- https://TheProtocol.TV/Vitalik $0.49 bitcoin micropayment
Preview --
In this wide-ranging interview, Vitalik discusses Ethereum, how bitcoin micropayments might change the media landscape, and a new interest: Cryptoeconomics…the study of cryptographic protocols with economic incentives.
submitted by valerian253 to ethereum [link] [comments]

CLoTH: a Simulator for HTLC Payment Networks

Date: 2018-12-27
Author(s): Marco Conoscenti, Antonio Vetrò, Juan Carlos De Martin, Federico Spini, Fabio Castaldo, Sebastiano Scròfina

Link to Paper

The Lightning Network (LN) is one of the most promising off-chain scaling solutions for Bitcoin, as it enables off-chain payments which are not subject to the well-known blockchain scalability limit. In this work, we introduce CLoTH, a simulator for HTLC payment networks, of which LN is the best working example. It simulates input-defined payments on an input-defined HTLC network and produces performance measures in terms of payment-related statistics, such as time to complete payments and probability of payment failure. CLoTH helps to predict issues that might arise in the development of an HTLC payment network, and to estimate the effects of an optimisation before deploying it. In upcoming works we'll publish the results of CLoTH simulations.

  1. c-lightning. Available online: (accessed on 31 July 2018).
  2. eclair. Available online: (accessed on 31 July 2018).
  3. Lightning network specifications. Available online: (accessed on 31 July 2018).
  4. Payment channels. Available online: (accessed on 4 August 2018).
  5. Raiden network. Available online: (accessed on 31 July 2018).
  6. Bonneau, Joseph, Andrew Miller, Jeremy Clark, Arvind Narayanan, Joshua A Kroll, and Edward W Felten. 2015. Sok: Research perspectives and challenges for bitcoin and cryptocurrencies. In Security and Privacy (SP), 2015 IEEE Symposium on, pp. 104–121. IEEE.
  7. Burchert, Conrad, Christian Decker, and Roger Wattenhofer. 2017. Scalable funding of bitcoin micropayment channel networks.
  8. Conoscenti, Marco, Antonio Vetrò, Juan Carlos De Martin, and Federico Spini. 2018. The cloth simulator for htlc payment networks with introductory lightning network performance results. Information 9(9). doi:10.3390/info9090223.
  9. Decker, Christian and Roger Wattenhofer. 2015. A fast and scalable payment network with bitcoin duplex micropayment channels. In Symposium on Self-Stabilizing Systems, pp. 3–18. Springer.
  10. Di Stasi, Giovanni, Stefano Avallone, Roberto Canonico, and Giorgio Ventre. Routing payments on the lightning network.
  11. Gervais, Arthur, Ghassan O Karame, Karl Wüst, Vasileios Glykantzis, Hubert Ritzdorf, and Srdjan Capkun. 2016. On the security and performance of proof of work blockchains. In Proceedings of the 2016 ACM SIGSAC Conference on Computer and Communications Security, pp. 3–16. ACM.
  12. Jain, Raj. 1990. The art of computer systems performance analysis: techniques for experimental design, measurement, simulation, and modeling. John Wiley & Sons.
  13. Khalil, Rami and Arthur Gervais. 2017. Revive: Rebalancing off-blockchain payment networks. In Proceedings of the 2017 ACM SIGSAC Conference on Computer and Communications Security, pp. 439–453. ACM.
  14. Miller, Andrew, Iddo Bentov, Ranjit Kumaresan, and Patrick McCorry. 2017. Sprites: Payment channels that go faster than lightning.
  15. Nakamoto, Satoshi. 2008. Bitcoin: A peer-to-peer electronic cash system.
  16. Osuntokun, Olaoluwa. Amp: Atomic multi-path payments over lightning. Available online: (accessed on 31 July 2018).
  17. Piatkivskyi, Dmytro and Mariusz Nowostawski. 2018. Split payments in payment networks. In Data Privacy Management, Cryptocurrencies and Blockchain Technology, pp. 67–75. Springer.
  18. Poon, Joseph and Thaddeus Dryja. 2016. The bitcoin lightning network: Scalable off-chain instant payments.
  19. Prihodko, Pavel, Slava Zhigulin, Mykola Sahno, Aleksei Ostrovskiy, and Olaoluwa Osuntokun. 2016. Flare: An approach to routing in lightning network.
  20. Reynolds, Diane. 2017. Simulating a decentralized lightning network with 10 million users. Available online: (accessed on 14 December 2018.
  21. Sompolinsky, Yonatan and Aviv Zohar. 2013. Accelerating bitcoin’s transaction processing.
  22. Vu, Bryan. Exploring lightning network routing. Available online: (accessed on 31 July 2018).
submitted by dj-gutz to myrXiv [link] [comments]

01-03 01:32 - 'Lightning Network Megathread' (self.Bitcoin) by /u/codedaway removed from /r/Bitcoin within 256-266min

Hi Everyone,
I'm trying to create a post that can be stickied with regards to the Lightning Network. This post should be used to provide as many links to as many resources as organized as possible. This is obviously a large task and I've tried to start it in hopes that I can crowdsource this in the comments to keep adding content to this post. Feel free to recommend any additions but please provide sources for your information. Also please correct myself or anything that appears up here that seems incorrect and I'll do my best to edit quickly.

What is the Lightning Network? ⚡


  • [link]23
  • [link]24
  • [link]25
  • [link]26

Specifications / White Papers

  • [Lightning Network White Paper]1
  • [Lightning Network Summary]2
  • [Lightning Network Technical Summary]3
  • [Lightning Network Specification]4
  • [LND API Reference]5
  • [Deployable Lightning White Paper]6
  • [Scalable Funding of Bitcoin Micropayment Channel Networks]7 .pdf)


  • [Bitcoin's Lightning Network, Simply Explained!]8
  • [The Lightning Network Explained (Litecoin/Bitcoin)]9
  • [Zap: Lightning Network Wallet]10
  • [Cross-Implementation Lightning Payment on Bitcoin's Mainnet]11
  • [Bitcoin Q&A: The Lightning Network]12

Lightning Network Experts on Reddit

  • [link]27
  • [link]28
  • [link]29
  • [link]30
  • [link]31
  • [link]32
  • [link]33
  • [link]34
  • [link]35
  • [link]36

Medium Posts

  • [link]37
  • [link]25
  • [link]39

Client Interfaces

  • [link]40
  • [link]41

T utorials and resources

Install bitcoind + lnd

  • [link]42

Develop an application of bitcoind and lnd

  • [link]43

Lightning on Testnet

Lightning Wallet

  • [link]44
  • [Eclair wallet (for android)]13

Place a transaction

  • [link]45
  • [link]46
  • [link]47

Lightning on Mainnet

  • [link]48

Atomic Swaps

  • [link]49

Developer Documentation


  • [link]50

Lightning implementations:

  • [LND]14 - Lightning Network Daemon (Golang)
  • [eclair]15 - A Scala implementation of the Lightning Network (Scala)
  • [lit]16 - Lightning Network node software (Golang)
  • [c-lightning]17 - A Lightning Network implementation in C
  • [lightning-onion]18 - Onion Routed Micropayments for the Lightning Network (Golang)
  • [lightning-integration]19 - Lightning Integration Testing Framework
  • [ptarmigan]20 - C++ BOLT-Compliant Lightning Network Implementation [Incomplete]

Lightning Network Visualizer (Testnet)

  • [link]51

IRC channel

  • #lightning-dev on freenode

Slack Channel

  • [link]52


  • [Lightning Emoji]21

Lightning Questions and Concerns

Questions might be unanswered, if you can answer please PM me and include source if possible

  • Do I need a constant connection to run a lightning node?
  • How does lightning handle cross chain (Atomic) swaps?
  • Can I only open lightning channels with segwit addresses?
  • Can I only open lightning channels with legacy addresses(non-segwit)?
  • What is the release date for Lightning on Mainnet?
  • What is a lightning "hub"?
  • What is the delay time for the recipient of a transaction receiving confirmation?
  • How does the lightning network prevent highly centralization?

Special Thanks

  • Many links found from [awesome-lightning-network github]22
Lightning Network Megathread
Go1dfish undelete link
unreddit undelete link
Author: codedaway
1: ligh*ning.n*tw***/lig**n*ng-*etwork-pa**r.pdf 2: lig*tn*ng*ne*wor*/lig*tn**g*netwo**-summary.*df 3: ligh***t***g*net*or*-t*chnical*su*mary.*d* 4: 5: ap**li*h*ning.commu**ty/ 6: 7: www.*i*.*e.e*h**c*/file*a*0a865c*40d40*8f942*f*06a7cb*96/Scalable_**ndin*_Of*Bloc*cha*n*M**ropay*en*_Ne*w*rks*20\(1* 8: 9: 10: 11: 12: 13: 14: 15: 16: 17: 18: 19: 20: 21: e*o*ipe*i*.o*g/high-volta*e*si*n/ 22: 23: w**h*nin*.n*t*ork/ 24: li*ht*i**.e*gineering* 25: 26: ru****ozlabs.*rg/?p*450 27: 28: 29: 30: 31: 32: 33: 34: 35: 36: 37: 38: 39: 40: 41: 42: dev.l*g*****munity/*uides/i*s*allati*n* 43: *e*.ligh**ing*c*mmunity/*u*orial/ 44: htl*.me* 45: yalls**rg/ 46: s*arblocks.*c**q.c*/ 47: blo*.bi*ref**ightni*g**aym*nts-o*-*e*tnet-f*r*bitre*il**ef*d**714b00 48: 49: 50: d**.light**ng.*om*unity/ 51: *xplore*.a*inq.c**#/ 52: l*ghtningcom*u**ty.s*a*k.*om
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

BEYOND LN -- "If all Bitcoin transactions were conducted inside a network of micropayment channels, to enable 7 billion people to make two channels per year with unlimited transactions inside the channel, it would require 133 MB blocks."

The source for the quote in the title is the Lightning Network whitepaper, posted here (Warning, PDF!)
ok, so let's have some fun with math...
The current Network, with Segwit, will provide for the effective equivalent of ~2,000,000 bytes per block, or an average of ~4000 transactions per block (using 500kb per tx, per the LN whitepaper).
Let's divide 2,000,000 by 133,000,000 to apply the LN devs' math to the current solution. Answer: 0.0150375939849624
OK, now lets multiply 7,000,000,000 by that result to get the number of users who could do the same with just 2MB blocks. Answer: 105263157.8947368
So, using this math, we can see that ~105 Million people could each open (not close!) just 2 LN channels PER YEAR.
This also excludes all other uses for the blockspace!
So, now what? Where do we stand if LN does, in fact, become popular (or even hyper-popular)? How many years will it take for LN to fully saturate and overwhelm the current 1MB+SW solution? Is opening just 2 LN channels per user, per year, very realistic? If not, what is a more realistic value?
I'm not writing this to be hostile or take shots at the current plan, or the current devs -- I do appreciate the fact that this is a VERY difficult problem, as well as the need to get it right.
Instead, I simply want to remind people that a hardfork is still eventually necessary, and to inspire some discussion on these very real concerns.
So, again, what are the options after SW and LN?
BU and EC are obviously not the answer -- they're f'n terrible -- so what's the latest and greatest for a viable hardfork that would allow for on-chain scaling well into the future? What are the latest ideas/concepts being discuss behind the scenes that may or may not have been shared on the mailing list and github yet?
I think it's clear that layer2 solutions will require additional blockspace well beyond what 1MB+SW currently provides, so please don't dismiss this issue outright. It's a hard problem, but it's still one I think we must solve long before the network gets overwhelmed by LN and others.
Please keep it civil... ;)
submitted by paleh0rse to Bitcoin [link] [comments]

Epicenter Bitcoin 106 – Christian Decker: Scaling Bitcoin With Duplex Micropayment Channels ("PhD student & member of community since 2009; Discussed scalability debate & what block size his research indicates can reasonably be handled today & Duplex Micropayment Channels vs. Lightning.")

Epicenter Bitcoin 106 – Christian Decker: Scaling Bitcoin With Duplex Micropayment Channels ( submitted by eragmus to Bitcoin [link] [comments] is the quirkiest video channel using PopChest bitcoin micropayments. Laura Lopez is a genius. Let's show her some love! is the quirkiest video channel using PopChest bitcoin micropayments. Laura Lopez is a genius. Let's show her some love! submitted by valerian253 to Bitcoin [link] [comments]

Or fund a few lightning channels and try out some micropayment lapps. #LightningNetwork #bitcoin - Crypto Insider Info - Whales's

Posted at: July 12, 2018 at 04:57AM
Or fund a few lightning channels and try out some micropayment lapps. #LightningNetwork #bitcoin
Automate your Trading via Crypto Bot :
Join Telegram Channel for FREE Crypto Bot: Crypto Signal
submitted by cryptotradingbot to cryptobots [link] [comments]

Such Cool!What if we can pay Dogecoin for watching video like this Bitcoin micropayments: Dogecoin On Chinese biggest TV channel: Phoenix satellite TV! Show some shibe love !

Such Cool!What if we can pay Dogecoin for watching video like this Bitcoin micropayments: Dogecoin On Chinese biggest TV channel: Phoenix satellite TV! Show some shibe love ! submitted by Pyds1977 to dogecoin [link] [comments]

Bitcoin micropayment payment channel - Yours

Bitcoin micropayment payment channel - Yours submitted by bitusher to btc [link] [comments]

[uncensored-r/Bitcoin] If all transactions using Bitcoin were conducted inside a network of micropayment channels, to en...

The following post by cryptogopher is being replicated because the post has been silently removed and some comments within it have been silently removed.
The original post can be found(in censored form) at this link: Bitcoin/comments/7lfsbz
The original post's content was as follows:
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Latium - How to earn bitcoin by micro tasking? Micro Miner Bitcoin Free 2020✔️ Bitcoin and MicroPayments-The Perfect Solution? Http Based Bitcoin Micropayment Channel Demo - microtrx Bitcoin Micropayment Revolution? -- Bitcoin Free Speech -- 500,000 trades per second

Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH. Micropayments by ... To start the payment channel for gas she writes a transaction that would put 100 of her bits into a 2-of-2 multi-sig address with her key and Bob’s key. Once she sends that transaction to the Bitcoin network the bits are locked in an account and can only be spent if both Alice and Bob agree. Refund: But she doesn’t send this transaction just yet. First, she wants to ... Das Micropayments Startup SatoshiPay hat angekündigt, zukünftig auf die Verwendung der Bitcoin-Blockchain, als die zugrundeliegende Technologie von Transaktionen, zu verzichten. SatoshiPay arbeitet in Kooperation mit der IOTA-Foundation an der Netzwerkentwicklung einer eigenen Blockchain. The Bitcoin network is weighed down by increasing number of transactions over the blockchain. Thanks to the smaller block size of 1 MB, which has not been upgraded since the days of Bitcoin’s creation. The increased load on the network has led to delays in confirmation of transactions. Miners have started to give priority to ... ↑Micropayment channel, Developer Guide ↑ Replacement in original Bitcoin code Satoshi Nakamoto, GitHub ↑ Anti DoS for tx replacement, Mike Hearn, bitcoin-development mailing list, 17 April 2013 ↑ Re: Anti DoS for tx replacement, Jeremy Spillman, bitcoin-development mailing list, 20 April 2013 ↑ Micro-payment channels implementation now in bitcoinj, Mike Hearn & Matt ...

[index] [38038] [23595] [47932] [24376] [45346] [6393] [22510] [3637] [18950] [40821]

Latium - How to earn bitcoin by micro tasking?

August 6, 2013 -- Ontario, Canada -- I've got a dead cat bounce in my currency basket and this has drastically improved my well-being. Here are Today's MadBits: Bitcoin Prices continued to range ... Dr. Christian Decker talks about Duplex Micropayment Channels at a Bitcoin Meetup in Zurich, April 2016. Bitcoin hacked Bitcoin hacking channel Bitcoin hacking content Bitcoin fully hack Bitcoin hack no fee Bitcoin hack pro Bitcoin hack pro 2019 Bitcoin hack free Bitcoin wallet hack Bitcoin account ... Christian Decker is a PhD student at ETH Zurich, where he is currently finishing up the world's first PhD thesis entirely about Bitcoin. The computer scientist has been part of the Bitcoin ... ⚡️Live ⚡️Tesla Podcast (Elon Musk) Company News, Bearish Bİtcoin, Liquidation, future Tesla Promotion 8,632 watching Live now tilepay Internet of Things Micropayments Platform ...