Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Segwit. Bech32. MAST. Signature aggregation. Key aggregation. Batch validation. Covenants. CT & bullet proofs. Dandelion. Neutrino. Tx compression. Set reconciliation for tx relay. Block template delta compression. NODE_NETWORK_LIMITED. UTXO commitments. TXO commitments. TXO bitfields. Rolling UTXO set hashes. Client-side validation. Peer encryption & auth. Fraud proofs. Scriptless atomic swaps. Zerolink/tumblebit. [Cut:] layer 2, HF rsrch, bip 8. (@rusty_twit)
and a paaartridge in a pear tree
and a paaartridge in a pear tree
That's exactly what I'm talking about, that just made my brain hurt, without telling me how to use it.
A few observations about the graphic.
The picture of the network is highly distorted, showing only 3 end users! when really theres hundred of thousands or millions potentially. HIghly connected hubs will be numbered in the hundreds (I feel I'm being generous with that number). That is a highly centralised network, nothing like the depiction.
I doubt many people use a hot wallet for everyday spending. The use case in which people have a spending wallet is already defunct. Who spends bitcoin when the fees are more than the cost of the purchase, you don't spend it.
The promise of low fees on LN was also made onchain in the early days. When I first used bitcoin most people didnt even put a fee. I suspect fees will not be low on LN, only lower than onchain fees.