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And read the damn FAQ https://stacker.news/faq#what-are-cowboy-credits
One of the reasons I really like Stacker News is that sats are the moderator.
If you don't like what another stacker is saying you can mute them so you don't get notifications from their replies or downzap them so that their comments are ranked lower.
Please hold off for a week or two. The non-custodial wallets aren't working very well at the moment but I've got some fixes lined up.
People aren't using custodial lightning wallets to save on channel opening fees
Not so sure about this, custodial does have economies of scale and sunk costs.
The tinkering user may pay more in custodian fees over time, and a volume user definitely will, but the upfront cost is practically nothing. Users generally have a very high time preference and will gladly pay 10k sats over a year than 1k sats up front.
they don't want to have to open and close channels
Primarily because they see the cost
they don't want to think about liquidity
Phoenix is a good example of idiot-proof automation which is why its done well, but the biggest complaint users have is about costs.
they don't want to run a lightning node
This is likely the biggest factor, and Lightning is a cost center if you're offline. Custodians are always online. Phoenix/Zeus are so expensive because you can't earn money while you sleep, and a great example of why mobile nodes are a dead-end because they'll always be a cost-center not a tool for revenue.
So refine my earlier point, ABSOLUTE COST is not a barrier to adoption... but up-front or mental costs may be.
Channel factories don't solve that any better than batch opens, nor do they absolve the trust and centralization of custodial "graduated" on-boarding.
I'm curious how different the trust assumption is between a single channel with Phoenix LSP and something like Spark.
They're the same because they face the same underlying physics of the chain, the techno-babble Fake L2's use is an effort to distract people from this and why they are scammers.
They have to scam the user so that they be consistent when scamming the regulator, they're big companies that don't want to attract attention as a custodian, and they don't provide any real services they can monetize.
Phoenix bootstraps your liquidity with a trusted LSP credit (Lightning.Pub does this too). During this time it is completely trusted. It has to be this way because if you can't afford to hit the chain you can't afford the security of said chain. They do not feel the need to scam the regulator because what they're custodying is a service credit, not a financial service.
Once you can redeem that service credit for a proper LN channel, it becomes trustless because of the unilateral exit ability since Lighting is chain anchored.
Spark is similar, it's trusted until you exit to a real channel.
Anything above the chain has an online-ness requirement, that doesn't make it not trustless, because you still control whether your defending your claim or not. It's an additional security trade-off you're making to coordinate above the chain, not trust.
Any L2 system will have this trade-off, and there's also no such thing as off-line payments on L2's despite the claims of many a scammer or script kid. You need to be online to communicate with the chain to redeem and defend any claims you may have on layers above it.
No, dude. I copy and paste the invoice into CoinOS and pay it there. It takes like 1-2 seconds.
CoinOS automatically recognizes what to pay how much and the routing fees... it's great. Don't... make assumptions. OK?
You are just making it slower and more inconvenient and you are concealing your use of LN rather than proudly showing a gun.
Why would you want to conceal your use of LN?
Cowardice?
Why not just attach a wallet and show your gun with pride, rather than hiding your LN use like a coward?
@DarthCoin refuses to attach a LN wallet to Stacker News and so @DarthCoin is boycotting the use of sats and supporting a shitcoin.
If we do not use the LN it will not grow and develop stronger.
@Darthcoin says he uses CCs because they work 100% of the time rather than sats which occasionally fail.
@DarthCoin claims to be living on the bitcoin standard yet here on SNs he prefers to use CC shitcoins because they are so reliable.
What a Fucking Hypocrit.
Do we actually know... that Darth doesn't ever pay with Lightning on SN?
Like I explained myself, I haven't 'attached a wallet' but pay via QR code and have for a while actually.
You are right, he could use LN via QR code but his stated position is that he prefers CCs because they are 100% reliable.
He is publicly promoting and endorsing using CC shitcoins as superior to sats because 'CCs never fail'
Paying via QR code for what valid reason?
You think it is more secure?
What is the risk in using an attached wallet that has a low balance and enables easy and convenient zapping?
By using an attached wallet I am supporting both that wallet via fees and the LN via fees.
By using QR code you are making it less convenient to zap and concealing your use of LN.
I thought one of the driving ideas behind SNs was to build a sats based social network and I wear the gun and horse with pride and in defiance of the state regulators who threatened to close down/prosecute SNs on the pretext of money transmission.
I do not understand any need or merit in concealing our use of LN or making it less convenient by using QR code.
For @DarthCoin or any serious Bitcoiner who claims to be serious about the need to build and develop the LN I only see cowardice, sloth and hypocrisy where they do not attach LN wallet.
I think... you should relax a little, OK?
Also look at the big picture.
You can see many of my posts that actively advocate for Lightning adoption, I have tested it and although a little buggy it works.
@DarthCoin for all his faults has spent years writing guides on Lightning and how to use Lightning wallets - his guides make Lightning easier to use, OK?
Everyone here should be using Lightning, and one day we all will be using it but right now frankly whether we tip in sats or not...
There are a lot of other things going on in the world. Stacker News is still very small in the big scheme of things.
I am tired of Bitcoiners who are all talk and no walk.
'Oh its too hard to use LN...I will use sats because its easier.'
LN will only grow stronger if we use it and support it.
Everytime I zap post or comment I support the network with fees paid.
Big mouthed Hypocrits like @DarthCoin do not.
I think you should address the issues raised rather than seeking to attack or undermine the messenger.
Yes @DarthCoin has written a lot about LN, but he is doing nothing about actually using it here on this platform where he spouts all his BTC Maxi self claims of 'living on the bitcoin standard'.
He has considerable status and many look up to him and the image he has projected...and so him boycotting the use of the LN BTC P2P system that has been built on here is a serious issue...some are following that example like sheep degrading and undermining the entire project.
SNs has been built in order to enable LN sats denominated P2P V4V community and @Darthcoin is openly boycotting participation in that project.
It is a vast and gross hypocrisy.
You leap to his defense like some minor public service minion desperate to impress his alleged superiors. You are not a free thinking Bitcoiner but a group think cuck apologist desperate to conform and kowtowing to the bully hypocrit @DarthCoin.
Stacker news is still very small but as the only social media platform I can zap P2P sats and enjoy numerous viewpoints and news it is important to me and I resent big mouthed and blatant hypocrits like @DarthCoin and his sock puppet minions degrading its integrity.
LOL OK I understand where you are coming from.
Let me just say this though... if this is how you feel about the folks on Stacker News...
How do you feel about the real sock-puppets on Twitter? Does Twitter use any Lightning? No I don't think so.
One day eventually Lightning will be everywhere on the internet.
See my first post from August 2024, it wasn't that long ago... but it feels like a lifetime with how much I've learned. Just think of where we'll be in 5 - 10 years.
I do not use any other social media.
Only SNs.
The V4V aspect of it works to limit the spam and bullshit.
The P2P sats capable nature of it makes me want to use it and only it.
X and all other social media? I do not want them or need them.
There is absolutely zero guarantee that LN will one day proliferate.
ZERO.
It will only grow if we use it and there are still fuck all places we can use it.
Stacker News is one of the very few places we can use LN everyday...so lets use it!
SNs is an ideal platform for ironing out many of the bugs that remain in LN.
It is a work in progress where we can all contribute to and help grow the strength of the LN.
@DarthCoin for all his BullShit claims of 'living on the bitcoin standard' refuses to use sats here- he is a hypocrit as is any one calling themselves a serious Bitcoiner but cannot bother attaching LN wallet/s.
If we do not there is every chance in another 5-10 years that the project of a P2P payments protocol will have failed.
I'm right there with you, I am amazed at how far Lightning has come and all the cool stuff it enables, even if it's a little bit buggy/frustrating at times.
The biggest thing Lightning is missing today is education. The "shitcoiners" the "degens" the "crypto" nonsense has tremendously slowed Bitcoin's adoption, especially when people buy Bitcoin because of NgU not because of curiosity or technical competence or value.
That's what the bear markets do - they wash out all the tourists and IMO we are speed-running year 4 of "the cycle".
In the meantime we need a lot more education but it will take time and be gradual.
I can personally attest to lots of different businesses that now accept Bitcoin that didn't several years ago. Its extremely niche but you can actually use Lightning in the 'real world' which didn't exist 5 years ago.
This will improve a lot soon too.
We'll have stacker settings for sat filters for each comments and posts. It makes downzaps way more effective at helping others avoid baddies - anyone can push a comment/post below other stackers thresholds and it's collapsed/hidden.
It'll ship in the next few days. Just doing final testing now.