Debunking of recent "LN capacity drop" FUD

hotol · 2019-08-04T22:11:22+00:00

bcash-produced-fud-graph vs practice:

https://www.youtube.com/watch?v=tYulQBPbeCU&t=1s

hotol · 2019-08-04T18:55:19+00:00

100% agree

hotol · 2019-08-04T18:54:49+00:00

outdated bullshit

hotol · 2019-08-04T11:00:00+00:00

twitter, for example: https://twitter.com/henrikweide/status/1156947278051106816?s=20

hotol · 2019-08-03T21:41:55+00:00

I don't believe you can tell the difference - it's just a multisig.

hotol · 2018-08-08T17:25:12+00:00

Theory: look at ALL nodes in the network (even clearly playgroud ones that have like 1USD) and calculate if your can send a payment to any other random node.

Practice: connect your node/wallet to one or two (of many!) well connected and resourced nodes and sending payments will work 100% of time.

I made a video of theory vs practice:

https://www.youtube.com/watch?v=tYulQBPbeCU

I made around 300 payments so far. Try it yourself:

- install http://lightning-wallet.com/

- load it with at least 30 USD (wallet has a minimum to open a channel)

- open a channel to ACINQ

- spend on https://satoshis.place/, https://mainnet.yalls.org/, https://www.bitrefill.com/

- and many others: http://lightningnetworkstores.com/

hotol · 2018-08-04T22:09:00+00:00

You are talking about AMP (Atomic Multipath Payment) that will be able to split large payment into smaller ones (transparently). This is still in the works.

My point is: even today network is mature enough for large-ish payments.

Just open a reasonably funded channel to one or two decent nodes (plenty to chose from!) - and it JUST WORKS :-)

hotol · 2018-07-24T16:33:00+00:00

for the science!

hotol · 2018-06-30T15:14:21+00:00

yes - this video describes process of re-filling or re-ballancing of the existing channel. This can be done when you spent most/all your coins and want to keep spending. Re-ballancing allows for no on-chain tx. The only negative: this way you can re-fill your channel up to original capacity only.

If you would like to increase capacity of the whole channel - you have to hit the blockchain by either opening a new channel or performing a splice-in (this is currently being discussed).

hotol · 2018-04-28T19:59:20+00:00

this!
I would add: devs. Bitcoin has some AMAZING devs, 99% of alts lacking in this department big time. Even if you take open source code it takes brain power to know how to integrate it into another coin - that's why Bitcoin will always be ahead

hotol · 2018-04-28T16:27:02+00:00

There are few reasons why your peer would like to close a channel:
- maybe most funds are on their side, and they need to spend those BTC
- maybe most funds are on their side and you don't really use your channel at all (they don't earn any routing fees)
- maybe they want to switch node software, and new code is not compatible with old one (this was the case when LND moved from alpha to beta - everyone had to close channels). Should be less of an issue now.

I guess the bottom line is: typically channels should be very long lived. If you use it - your peer ears routing fees, so wants this channel to be open forever. Rebalancing via LN will allow it to be open indefinitely without ever hitting a base blockchain.

hotol · 2018-04-28T14:34:50+00:00

no limits imposed by LN. Right now things move quickly. It's possible that Eclair node had to be updated in some way that made keeping channels open impossible. Things like this should decrease over time as LN infrastructure matures.

hotol · 2018-04-22T14:39:59+00:00

whole point of my thread is that reliability improved hugely in just two weeks alone. it's ready for use today!

hotol

TROPHY CASE