related posts
661 sats \ 4 replies \ @pillar 26 Sep 2022
Making it invisible. Onboarding a normie in a simple way nowadays is difficult because you will stumble with the problem of them not understanding on-chain vs lightning in minute one. And then you need to spend 30min at the whiteboard just for them to be able to know which menu they should pick in Muun.
We need to abstract more things away until it's dead simple. I'm hoping that Federated Chaumian Mints deliver their promises on this area.
reply
1 sat \ 3 replies \ @nerd2ninja 26 Sep 2022
Phoenix wallet does a perfectly fine job of this
reply
425 sats \ 2 replies \ @steepdawn974 26 Sep 2022
No. A normie will be confused by channel opening fees, because less money arrives than what was send. their immediate reaction is either "scam" or "wow, is this expensive. Paypal/CashApp/et al cost me nothing" etc etc
We know why the fee occurs and why it's necessary, but when talking about "making it invisible" then it's those little things that throw normies off big time.
Hosted channels in a proper wallet would probably the best option for seamless newbie onboarding, and still offer reasonable privacy
reply
105 sats \ 0 replies \ @nerd2ninja 26 Sep 2022
Cash App and Paypal don't do international transfers very well and that's the best audience for Bitcoin right now.
When the government does some obvious abuse of money and people get angry about bailouts again, we get to talk about those fundamentals,
Right now anyone unwilling to learn the basics like why Bitcoin exists and transaction fees etc probably shouldn't be using Bitcoin. Someone who gets mad about a transaction fee is also going to get mad about price be low as well.
(Also Cash App has lightning network withdraws yay)
reply
0 sats \ 0 replies \ @kilianbuhn 27 Sep 2022
You're wrong. The confusion about so many payment options, technological confusion about Lightning/onchain are far more offputting to normies.
The cost of Lightning transactions already almost zero and bank accounts and credit card already cost 5 or 10 bucks. And "you pay with your data" is a known concept that mainstream people hate. 😡
reply
669 sats \ 0 replies \ @purpurato 26 Sep 2022
It still not so reliable, there's many payments that fail and on the node's side there's still many failures that lead to force closed channels. I believe both issues are being solved progressively, but imo that's 2 of the most important.
Before having hundred different features, it should be robust and reliable.
reply
372 sats \ 4 replies \ @nerd2ninja 26 Sep 2022
Whatever Rene Pickhardt says lol. Dude know way more about the technical minutia than me for sure.
reply
481 sats \ 2 replies \ @m4 OP 26 Sep 2022
I'm a little sad about what he is saying about LN
reply
461 sats \ 0 replies \ @nerd2ninja 26 Sep 2022
We are our own worst critics. The reason Bitcoin works the way it does, with strong focus on security first, and features to be seen on other layers for example, is because we look at our own work with a harsh critical eye and that mean we know how to improve in the best way possible.
If you're sad about what he's saying about LN, imagine what he might say about Proof of Rich- I mean Proof of Stake or bigger blocks.
The Bitcoin community has found LN to be the best scaling implementation, and all criticism of it is about making it even better.
reply
0 sats \ 0 replies \ @premitive1 26 Sep 2022
Why?
reply
0 sats \ 0 replies \ @tomlaies 26 Sep 2022
What does he say about LN that is not specific to Core Lightning implementation?
reply
423 sats \ 0 replies \ @DeezSats 26 Sep 2022
Receiver privacy
reply
100 sats \ 0 replies \ @rijndael 27 Sep 2022
- Async Receive
- Scaling channel opening (something like channel factories, maybe a joinmarket-like mechanism to aggregate users for batching channel opens, etc)
reply
100 sats \ 1 reply \ @tomlaies 26 Sep 2022
LN as in Lightning in general instead of a specific implementation?
In my eyes nothing, the userfriendly software on top to manage nodes and prevent force closures need to improve but that's not part of LN. Base layer needs to eliminate the dominance of one centralized implementation (Core-Bitcoin) but that's not part of LN. The userbase needs to grow to get a stronger and more resilient network but that's not part of LN.
Overall I can't think of anything that's only specific to LN.
reply
368 sats \ 0 replies \ @gd 26 Sep 2022
Working on exactly this. User experience improvement is the next step forward.
reply
50 sats \ 2 replies \ @alexsharp 27 Sep 2022
Scaling users, it only scales transactions currently.
reply
0 sats \ 1 reply \ @kilianbuhn 27 Sep 2022
wdym
reply
0 sats \ 0 replies \ @alexsharp 28 Sep 2022
https://twitter.com/JohnCantrell97/status/1478794692313632768?s=20
TL;DR You still need on-chain transactions to open channels.
reply
10 sats \ 1 reply \ @DarthCoin 28 Sep 2022
I was presenting my observations about LN status in this article I wrote some time ago
https://darthcoin.substack.com/p/recommendations-for-ln-users
I really hope that more new LN users will read it and also LN devs too. To be aware of these aspects.
reply
121 sats \ 0 replies \ @elonmusk 28 Sep 2022 freebie
also thanks for replying to plebs on umbrel forums.
reply
0 sats \ 0 replies \ @banqu3ro 1 Oct 2022
A feature to upload pictures and videos
reply
0 sats \ 0 replies \ @scampy 27 Sep 2022
Lightning can scale to an arbitrary TPS, but what's less clear is how many users it can support non-custodially. The number of possible channels is limited by on-chain transactions, which will be much less than the global population. Most people will have to rely on third-parties or other L2s to use Lightning, which requires trust unlike on-chain transactions.
reply
0 sats \ 0 replies \ @TheBTCManual 27 Sep 2022
I think that LN needs to become part of the P2P market more, there is so little liquidity in the space, and even with robotsats trying look how few orders are on there, and the premiums are dog shit because theres so little liquidity, how do we get these offers added to all LN wallets so people can buy and sell directly in wallets and provide liquidity
reply
0 sats \ 0 replies \ @sp 27 Sep 2022
For mass adoption, a stable unit of account and low friction on/off ramp.
For retention, reliability for transactions and decentralized backup/restore.
I like the the experiments with stablecoins and options, they lower the mental cost of converting prices to sats (at least where there’s no hyperinflation).
I don’t like the idea that custodians might disappear or be censored, swallowing funds with them.
reply