/biz/ - Alright lads, explain to an timer, what is the lig - Business & Finance

Lightning Network (ID: WxLHxK9b) Archived

01/21/25(Tue)05:28:55 No.59661695

File: fashionable_retard.gif (1.3 MB, 250x250)

Lightning Network (ID: WxLHxK9b) 01/21/25(Tue)05:28:55 No.59661695 Archived

Alright lads, explain to an timer, what is the lightning network, and more importantly
Is it safe?

I use the Electrum desktop wallet, but there is no mention of it, and all the guides I look pretty much skim over this.
Do I need to the set something else up?

Anonymous (ID: DlVDZNeD)
01/21/25(Tue)05:43:51 No.59661770

Anonymous (ID: DlVDZNeD) 01/21/25(Tue)05:43:51 No.59661770

>>59661695
Electrum is still around?

Lightning Network (ID: WxLHxK9b)
01/21/25(Tue)05:44:59 No.59661777

Lightning Network (ID: WxLHxK9b) 01/21/25(Tue)05:44:59 No.59661777

>>59661770
apparently
don't ask me, its just my ancient wallet

Lightning Network (ID: WxLHxK9b)
01/21/25(Tue)07:22:14 No.59662231

Lightning Network (ID: WxLHxK9b) 01/21/25(Tue)07:22:14 No.59662231

File: Screenshot_20250121_092120.jpg (39 KB, 744x515)

39 KB JPG

Someone please explain this shit to me, how come it feels like I'm the only one having a hard with this shit?

Lightning Network (ID: WxLHxK9b)
01/21/25(Tue)07:29:10 No.59662257

Lightning Network (ID: WxLHxK9b) 01/21/25(Tue)07:29:10 No.59662257

> Lightning is currently restricted to HD wallets with p2wpkh addresses.
What is this shit? its not an option anywhere

Anonymous (ID: w2Bcav+Z)
01/21/25(Tue)07:33:04 No.59662274

Anonymous (ID: w2Bcav+Z) 01/21/25(Tue)07:33:04 No.59662274

>Lightning
Nobody uses that shit. Just buy Monero.

Lightning Network (ID: WxLHxK9b)
01/21/25(Tue)07:38:08 No.59662288

Lightning Network (ID: WxLHxK9b) 01/21/25(Tue)07:38:08 No.59662288

Man this way more finnicky than I thought
so let me see if I get this straight
>previous wallet was too old for lightning
>to open a lightning channel you first need to have funds (a reasonable amount)
>the application needs to stay open and online until the process is confirmed
>essentially its a IOUs between nodes(?) until changes get reflected on chain (?)