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0 pointsolegkikin8y ago0 comments

LN has been vaporware for a long time, and it's always 18 months before it's ready. Recently the developers openly admitted they don't know how to scale it beyond 10000+ channels, because they don't know how to solve distributed routing.

https://www.reddit.com/r/btc/comments/719vis/lightning_dev_t...

https://medium.com/@jonaldfyookball/mathematical-proof-that-...

0 comments

Flowdalic8y ago

That is a very pessimistic view on the current state of LN. There are three independent open-source LN implementations [1, 2, 3] out there that are being worked on and already implement basic functionality. All three contribute to an document, called Basics Of The Lightning Network (BOLT) [4], which forms an open standard for LN.

I wouldn't call it vaporware. Yes, there are unsurprisingly open questions. But nothing which can't be solved.

1: https://github.com/lightningnetwork/lnd 2: https://github.com/ACINQ/eclair 3: https://github.com/ElementsProject/lightning 4: https://github.com/lightningnetwork/lightning-rfc

olegkikinOP8y ago

In the broad terms, how do you even imagine LN to work? Let's say I want to buy a $3 coffee at some random Starbucks I'm walking by. Do we have to first open and fund the channel? How much will it all cost just for that one off purchase?

Give particular figures please, no vague nonsense I hear all the time.

As for these implementations, I will believe it when I see it. You didn't even try to address the particular issue I mentioned.

apapli8y ago

You could be transacting your coffee with any crypto that Starbucks supports, and which is compatible with the lightning network. Litecoin will work for this example.

So Starbucks ask you to pay via Litecoin, which is fine by you even though you don't have a Litecoin balance. Atomic swaps over lightning network funded by some bitcoin you own, converted to Litecoin, is how you'll pay for your coffee.

1 more reply

AgentME8y ago

LN needed the transaction malleability fix in Segwit, so LN development stalled when Segwit was blocked for years.

olegkikinOP8y ago

Please tell us when LN will launch. Not some half-baked beta that chokes on 10000 channels, but the real thing.

j / k navigate · click thread line to collapse

0 comments

Flowdalic8y ago

I wouldn't call it vaporware. Yes, there are unsurprisingly open questions. But nothing which can't be solved.

1: https://github.com/lightningnetwork/lnd 2: https://github.com/ACINQ/eclair 3: https://github.com/ElementsProject/lightning 4: https://github.com/lightningnetwork/lightning-rfc

olegkikinOP8y ago

Give particular figures please, no vague nonsense I hear all the time.

As for these implementations, I will believe it when I see it. You didn't even try to address the particular issue I mentioned.

apapli8y ago

You could be transacting your coffee with any crypto that Starbucks supports, and which is compatible with the lightning network. Litecoin will work for this example.

1 more reply

AgentME8y ago

LN needed the transaction malleability fix in Segwit, so LN development stalled when Segwit was blocked for years.

olegkikinOP8y ago

Please tell us when LN will launch. Not some half-baked beta that chokes on 10000 channels, but the real thing.

j / k navigate · click thread line to collapse