Author: vegard

Backup of Lightning Labs’ lightning-app on Android.

Recently, Lightning Labs’ mobile wallets had another security feature enabled: Static channel backups. It’s quite hidden, though, and still only backs up to the phone itself. With some help and extra apps, it can be made to a full-fledged, periodic off-phone backup, though.   Enabling backups. After funding the wallet – or after upgrading to […]

Small blocks vs big blocks – is it just tribalism? My reasons for believing small blocks are better

This piece will be fairly long. I will try to build up my arguments in a structured way. What is the reason we value bitcoin? Ultimately, bitcoin are just numbers in a special database (a blockchain). Why is it able to hold something we give value? I believe this is mainly due to these things: […]

A dystopian story from the year 2135.

“Grandpa, what is that large black building?”, said Tim. “Oh, that’s where our crypto is created”. “Oh, you mean Bitcoin?” “No, Tim. It’s not Bitcoin. Bitcoin is something else,  but it’s not government sanctioned. But hush. The government doesn’t really want us to talk about it”. “But Grandpa, why did someone create a copy of our Bitcoin? I mean, […]

Bitcoin – cheap payments or decentralized settlement layer?

I’ve been meaning to write this for a while, to counter some misconceptions that are out there. The main misconception is that the current Bitcoin developers are against growth. In my opinion, nothing could be farther from the truth. To the contrary, they are the ones that understood early that to retain decentralization properties, we […]

Securing a Woocommerce site with Lightning (and other Bitcoin) payments.

1. Don’t run the webserver on your Lightning Node I use the woocommerce plugin towards a lightning node that is running on another server. Between the webserver and the Lightning Node there is a firewall, making sure only the ports the webserver needs to be able to generate payment requests is open. 2. Make sure […]

Lightning Network – analogies that works, that have been used, and limitations of the analogies.

There has been a lot said of what Lightning Network is similar to. Some of the analogies are wrong, some of them are partly right. I’ll try to break down a few of them here, and where they fail. Lightning Network is IOUs This is partly right. But what is an IOU? It’s a paper […]