Vegards random thing blog and shop
I have been meaning to write this for a long time, but put it off because it’s such a difficult topic. I will do my best in this post, though. If you don’t want to read it all or fall off early, the most important sentence in it is “hashrate follows money”. Just try to […]
Read on for my experience. Want to test yourself? Follow my detailed guide! On testnet, losing coins is free, go ahead and play! I’m writing this fairly beginner friendly, and not assume too much familiarity with LND. I encourage anyone not experienced with LND to read the logs, which can be found in ~/.lnd-*/logs/bitcoin/testnet/ – […]
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 […]
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: […]
Getting networking correct for lnd can be daunting for a beginner. This guide is meant to help with that on a general level, but obviously there are too many different solutions out there that it can cover the specifics on different types of devics. I will start from the inside, at the lnd software. This guide will […]
“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, […]
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 […]
In this article I will try to answer some beginner-questions, that seems to be asked time and time again. I hope that it will evolve to be a FAQ of sort, but for now it is just random bits I remember having heard asked too often. Opening a channel. Push amount When opening a channel, you […]
Fractional? No. Not unless you change it radically. Your funds are in your channels, and that is the only thing you really need to care about. What happens further out in the network isn’t something that concerns the safety of your funds. When you do a payment, you give your channel partner a cryptographic promise […]
Hanging out in beginner fora, I have had a lot of question that begins with the above header. I thought I’d share some answers. First thing to remember is that you as the sender decides the route your payment takes. What happens if the destination goes away before the payment reaches it? Relax: No […]
Liked it: 8