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LN.capital: "BOLT 12 is a sleeping giant. But 99% of Bitcoiners don’t understand it yet. In this thread, we’ll break it down as simply as possible:"
BOLT 12 And LNURL: What Is The Future For Bitcoin’s Lightning Network?
Synonym releases SlashPay, payment negotiation and routing for ALL Bitcoin transaction types
Tales from the Crypt: #298: Is it a BLIP or a BOLT with Lisa Neigut
⚡ Lightning Coin ($BOLT) ⚡| BUSD Rewards 💸 | Just Launched! 📈 | Market Cap Under 25k 🔥 | Experienced Dev Team 💥| HODL Competition Happening Now!
⚡ Lightning Coin ($BOLT) ⚡| BUSD Rewards 💸 | Just Launched! 📈 | Market Cap Under 25k 🔥 | Experienced Dev Team 💥| HODL Competition Happening Now!
⚡ Lightning Coin ($BOLT) ⚡| BUSD Rewards 💸 | Just Launched! 📈 | Market Cap Under 25k 🔥 | Experienced Dev Team 💥| HODL Competition Happening Now!
⚡ Lightning Coin ($BOLT) ⚡| BUSD Rewards 💸 | Just Launched! 📈 | Market Cap Under 25k 🔥 | Experienced Dev Team 💥| HODL Competition Happening Now!
⚡ Lightning Coin ($BOLT) ⚡| BUSD Rewards 💸 | Just Launched! 📈 | Market Cap Under 25k 🔥 | Experienced Dev Team 💥| HODL Competition Happening Now!
⚡ Lightning Coin ($BOLT) ⚡| BUSD Rewards 💸 | Just Launched! 📈 | Market Cap Under 25k 🔥 | Experienced Dev Team 💥| HODL Competition Happening Now!
⚡ Lightning Coin ($BOLT) ⚡| BUSD Rewards 💸 | Just Launched! 📈 | Market Cap Under 25k 🔥 | Experienced Dev Team 💥| HODL Competition Happening Now!
⚡ Lightning Coin ($BOLT) ⚡| BUSD Rewards 💸 | Just Launched! 📈 | Market Cap Under 25k 🔥 | Experienced Dev Team 💥| HODL Competition Happening Now!
⚡ Lightning Coin ($BOLT) ⚡| BUSD Rewards 💸 | Just Launched! 📈 | Market Cap Under 25k 🔥 | Experienced Dev Team 💥| HODL Competition Happening Now!
⚡ Lightning Coin ($BOLT) ⚡| BUSD Rewards 💸 | Just Launched! 📈 | Market Cap Under 25k 🔥 | Experienced Dev Team 💥| HODL Competition Happening Now!
⚡ Lightning Coin ($BOLT) ⚡| BUSD Rewards 💸 | Just Launched! 📈 | Market Cap Under 25k 🔥 | Experienced Dev Team 💥| HODL Competition Happening Now!
⚡ Lightning Coin ($BOLT) ⚡| BUSD Rewards 💸 | Just Launched! 📈 | Market Cap Under 25k 🔥 | Experienced Dev Team 💥| HODL Competition Happening Now!
⚡ Lightning Coin ($BOLT) ⚡| BUSD Rewards 💸 | Just Launched! 📈 | Market Cap Under 25k 🔥 | Experienced Dev Team 💥| HODL Competition Happening Now!
⚡ Lightning Coin ($BOLT) ⚡| BUSD Rewards 💸 | Just Launched! 📈 | Market Cap Under 25k 🔥 | Experienced Dev Team 💥| HODL Competition Happening Now!
⚡ Lightning Coin ($BOLT) ⚡| BUSD Rewards 💸 | Just Launched! 📈 | Market Cap Under 25k 🔥 | Experienced Dev Team 💥| HODL Competition Happening Now!
Lightning Network wallets - not safe to use yet - when it will be?
🐕 Bolt Doge Token 🐕 BoltDogeToken is the next Doge but better! | 🚀 Just Launched | Don't miss your chance! Next your x1000 token! | Influencer proposals soon!
🐕 Bolt Doge Token 🐕 BoltDogeToken is the next Doge but better! | Fair Launch in 10 minutes | Don't miss your chance! Next your x1000 token! | Influencer proposals soon! 🚀
United Wholesale Mortgage Completes First-Ever Cryptocurrency Mortgage Payment Transactions
🚨Launch Date Announcement🚨$Bolt ready to take off🚀Fairlaunch today💥 Simple, safe, and cheapest chain✅Dont miss out-Coingecko confirmed‼️CMC imminent🤯Audit on Certik
Mentions
Yeah, to do otherwise would have been an unforgivable mistake (Disclosure: I designed the Lighting address format, also called BOLT11)
Good answer, i think you have a better understanding of LN than i do. I get how HTLCs work and how channels are set up and how payments are routed, but i havent been paying attention to development for around a year now of LN. Thanks for the reply! Im going to look into BOLT 12.
Sure, we can all agree that the appropriate place for scams is off chain if not a trashcan. But I don't want my node having anything to do with it. All shitcoin data should be privately held and transacted only through the relevant parties. I'm mildly concerned with things like BOLT12 introducing fiat/stablecoins into the specification for lightning itself but I don't need to support BOLT12 if I don't want to. So long as all the shitcoin stuff is in optional layers off chain, I'm not fine with it but I'll live with it.
Glad to see BOLT12 is finally starting to hit the lightning network
I think it’s a pretty exciting set of improvements to the lightning network. Clients and nodes are starting to roll out support. From the link: What is BOLT 12? BOLT 12 is a proposed upgrade to the Lightning network. For users, it can enable things like reusable payment requests, increased receiver privacy, and increased censorship resistance
>BOLT 12 is a proposed upgrade to the Lightning network. For users, it can enable things like reusable payment requests, increased receiver privacy, and increased censorship resistance. Sounds like a great upgrade!
tldr; BOLT 12 is a proposed upgrade to the Lightning Network, aiming to enhance user experience and privacy. It introduces features like reusable payment requests, increased receiver privacy, and censorship resistance. This upgrade allows for seamless bitcoin transactions, such as tipping for services, accepting donations anonymously, and self-custodial payments without intermediaries. BOLT 12 also supports route blinding for secure payments and onion messaging to hide user IP addresses, making it a significant improvement for Bitcoin's Lightning Network. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
> This week’s newsletter summarizes the disclosure of 10 vulnerabilities affecting old versions of Bitcoin Core and describes a proposal to allow BOLT11 invoices to include blinded paths. Also included are our regular sections announcing new releases and release candidates and summarizing notable changes to popular Bitcoin infrastructure software.
It doesn't as Phoenix (as far as I know) hasn't implemented BOLT12 yet but they are working on it.
You receive amount has to be encoded in the BOLT-11 invoice. So the most you can receive is really dependent on the capacity of the channel you own. But historically, routing fees for LN are only economic if your moving less than 3 million SAT. Over that, the LN routing fees are higher than the BTC mining fees.
I am spinning up a node, to run CLN on, so I can use their BOLT12 lightning withdrawal. Really excited to try it out. Have Core and Fulcrum running, next is mempool, then CLN, Jam, etc. Running it all from Linux, just in case popular node maintainers like Umbrel or Start9 get in trouble with the feds.
When enabled, there is supposed to be a network picker on the BTC withdraw window. In the meantime I'm trying to paste in a BOLT-11 invoice in the BTC "to" field, which fives the error. Took about 4 weeks on CashApp for LN rollout to "roll" to me.
Please speak up if you see the feature enabled on your account. Mine is not. Here are my assumptions: 1. I assume this feature is for CB-Exchange, not CB-Wallet (confirmed) 2. I assume this feature will be present on CB-Web-app as well as CB-Mobile 3. I assume invoices can be added to the allowlist if they are long lived 4. I assume invoices will be usable in API "address" fields 5. I assume that the rollout is staggered since \#3 is broken 6. I assume BOLT-11, LNURL and LN-Address forms will all be supported
Please speak up if you see the feature enabled on your account. Here are my assumptions: 1. I assume this feature is for CB-Exchange, not CB-Wallet (confirmed) 2. I assume this feature will be present on CB-Web-app as well as CB-Mobile 3. I assume invoices can be added to the allowlist if they are long lived 4. I assume invoices will be usable in API "address" fields 5. I assume that the rollout is staggered since \#3 is broken 6. I assume BOLT-11, LNURL and LN-Address forms will all be supported I don't have it yet.
lol, until a couple of days ago I'd recommend Phoenix if you are a beginner user, but now you need to know where you live! It has just been removed from the american app stores. Lightning has different implementations and use-cases. You can create your own lightning channels with your own node, and you have complete control. lnd, eclair and c-lightning. They're different implementations of the BOLT protocol. Depends on your skill level, your computer knowledge and platform. The node wallet you choose is kind of dependent on what implementation you choose. If you want a semi-custodial solution (as in the keys are on your device, but as with all network connected things, they're exposed) there are other options like Breez, Muun, Mutiny or Phoenix. Then there are the custodial solutions like Strike and Wallet of Satoshi. If you're just learning how to use it, that's easy. But things like that can just up and disappear. As with all things bitcoin, you have to work out this stuff and figure out what's best for you. If you want full privacy, you have to do it from the lightning node ground up.
The very fact that it currently has no good way to send a payment without an invoice makes it a non-starter for the general public. Yeah, there's keysend, but that's deprecated. There's BOLT 12 but that's taking forever to complete. There's LNURL, but that's less decentralized.
I don't know man, just share what you know (or think you know) and other people are going to call you out and correct you, just suck it up and thank them for informing you (unless verifying what they're saying proves them wrong of course), and repeat until eventually people aren't correcting you anymore lol. Try your best to verify what you currently think you know and there shouldn't be a lot of that. Also, "expert" isn't even a good descriptor. What do you want to know? Someone who knows all the configuration options in Bitcoin core and what they do, might not necessarily know ANY of the lightning network BOLT specs. Someone who knows that might not know any of the cryptography, and someone who doesn't know any of that, could still be seen as an "expert" to someone who is learning from them the basics of how to send and receive Bitcoin on-chain and through the lightning network.
Not exactly how it works, it is more complicated than that as the channel you are routing through does get some info on your transaction. It is a matter of how much the channel keeps and shares. Short answer is that currently, no, lightning is not 100% anonymous all the time. There is still some very high effort methods of getting info on some transaction/users. That said, privacy is one of the biggest concerns of the people building out the lightning network and there are many solutions in the pipe currently to increase this anonymity from the protocol enhancements like BOLT12 to 3rd party attempts at solution. This random blog post google served me up here goes into some detail if you want some more of it... https://blogs.umb.edu/stephanienichols/2023/03/29/are-lightning-payments-anonymous/#:\~:text=Lightning%20payments%20require%20sending%20private,receiver%20by%20jumping%20between%20channels.
Especially when combined with their next feature: > BOLT 12/Offers: static Lightning invoices
>btc maxi I wouldn't expect you to know this, but the term bitcoin maxi was coined by Vitalik as an ad hominem attack against anyone who criticized his centralized premined shitcoin. He even used it against people like Fluffy Pony who worked on Monero. He once said "I'm proud of setting a precedent for premines", that is giving insiders free coins to dump on retail. I'm definitely a decentralization maxi. Maybe you're not. >very impressive, yet a single ETH dapp makes more volume than whole LN You cannot know the "volume" on Lightning. It's private by design and you don't really share what happens in channel with one peer with any other of your peers. What you can know with some estimation is only public routing capacity. The total routing capacity is unknowable because any of P2WSH and P2TR UTXOs can technically be on numerous unbroadcast channels, which is 600k bitcoin in total. Lightning "routing capacity" is not comparable to tokens locked in AMM contracts. Most AMM contracts have tokens issued by a central entity. When you have a lot of premined coins allocated to insiders, it's easy to fake "activity". How do you think brand new chains or tokens just created shoot to billion dollar market cap immediately? You think there is actually that much liquid value in those coins? >One major failing of the BLN is that you must be online to pay anyone or get paid. While this is mostly true for many cryptocurrency platforms, with BLN, going offline for a prolonged period exposes you to a "fraudulent channel closure." [https://www.makeuseof.com/risks-issues-bitcoin-lightning-network/](https://www.makeuseof.com/risks-issues-bitcoin-lightning-network/) Lightning isn't perfect but these are some poorly researched outdated FUD. It doesn't describe how Lightning works today. Lightning has asynchronous payments using trampoline relay and HODL invoices, as [covered by Protos](https://protos.com/offline-bitcoin-lightning-payments-will-soon-be-possible/) last year, so you don't need to be always online. PTLCs will improve this even further and also make it more private. BOLT12 and route blinding address other things mentioned in that article. You can read more about Lightning privacy [here](https://twitter.com/LN_Capital/status/1614308872973344768). Lightning is solving problems in the real world today ([\[1\]](https://twitter.com/BitcoinNewsCom/status/1667113054088343555), [\[2\]](https://twitter.com/ShannenPill/status/1669157342833786880)) [Open source map of merchants, communities and circular economies around the world](https://btcmap.org/)
>fairly complex This [little kid](https://imgur.com/YksZqu7) and this [grandma](https://twitter.com/osmowallet/status/1630646925018931201) disagree. Even [legacy banks](https://www.santander.com/en/stories/lightning-network-blockchain) are realising that it's [faster than Visa](https://twitter.com/BitcoinBeachBR/status/1589691421531181057) Try Phoenix, Breez, Bitkit or Mutiny (all come with private node on phone/web app and automated channel management). Eclair just shipped dual-funded channels, splicing, and BOLT 12. It'll come to Phoenix soon. [BTC Sessions on Phoenix wallet](https://youtu.be/cbtAmevYpdM)
>Phoenix automatically opens new channels on the fly You should disable channel creation on the fly Using Phoenix, Breez, Bitkit (and soon Mutiny) is as noob friendly as anything in crypto. For newbies, I would highly recommend BTC Sessions video on Phoenix wallet from a couple of days ago. Eclair just [shipped](https://twitter.com/acinq_co/status/1670791297483898887) some major features - dual funded channels, splicing, and BOLT 12 (it's coming to Phoenix soon). The latest LDK lib is also going to hugely improve self custodial wallets.
1) Yes, it's a liquidity network, that's why LSPs exist and their whole business model is providing liquidity, not owning it. 2) That's not true unless you are using a custodial service, otherwise you can make all your channels private and no one can even know you have your fund on LN, your onchain transactions will look like another multisig, it could be an escrow like any other. 3) You can have more than 1 wallet and nobody will ask you why, Lightning and Bitcoin are not banks. 4) Webapps, and web interfaces for wallets already exist, you can run your own node and connect from them, I do this, but of course I assume not everyone will do this. Apple: You can install external apps on macOS, also Apple restrictions have not stopped people from jailbreaking their iPhones to install apps that are not on the AppStore (I'm talking from experience here although I don't own an iPhone anymore) Google: APKs, F-Droid, XDA Labs, etc... You can run Linux Apps on ChromeOS. This reminds me of those discussions where people said that nobody would ever use Linux but not everyone I know had a work Chromebook or an Android phone, if you're that worried about users then propose something as a BIP or a BOLT, after all these are open source software projects.
It’s a static Lightning address which I really like and with BOLT12 it might even get better, let’s see.
On the lightning network, you make payments by acquiring a BOLT11 invoice. If someone on the other side of the world wanted to accept a payment from you, they would have to generate the invoice and send it to you out-of-band, eg over email or text or something. Once you have the invoice, you (or anyone) can pay it. LNURL is a protocol over HTTP established to help in dynamically creating invoices, but it's not actually part of the lightning protocol. If the remote recipient runs an LNURL server and you have his LNURL address, you can send him a series of requests (defined by LUD-06) where the server tells you some basic info, like the min and max amount the lightning node is willing to generate an invoice for, then you specify an amount in that range, and it returns you the BOLT11 invoice which you can then pay. It removes the manual interaction required to send you the invoice manually, out-of-band as the LNURL encodes all the information about the remote server. A lightning address takes this one step further. This is very similar to above, but instead of a big long nasty encoded LNURL string, you use something that looks identical to an email address. This is defined by LUD-16. The supporting wallet will use the domain name from the lightning address to make a request to a specific url pattern on that domain with the username, and the same process as LUD-06 begins, resulting in you dynamically acquiring a BOLT11 invoice which you can then pay over lightning.
BOLT 12 lets you programmatically request an invoice from an intended payment recipient by communicating peer-to-peer over the Lightning Network itself, no external services required.
> BOLT12 First time I hear about that. Man, so much stuff. Every day something new, will look into it in more detail tomorrow. Sounds promising so far.
BOLT12 also allows reuse but has the advantage over LNURL that it communicates entirely via the Lightning Network and does not need an external web service.
71 P2P bitcoin transactions in just 3 minutes and 33 seconds This is to show that Btc is ready to be used by the masses.. These were school children used in this test/world record.. wheres my BOLT card???
Cutting it just fine with estimated millions of transactions per day. Get a lightning address, jump on [Nostr](https://nostr.how/) and get [zapped](https://zaplife.lol/). Read [this](https://medium.com/breez-technology/the-breez-open-lsp-model-scaling-lightning-by-sharing-roi-with-3rd-party-lsps-e2ef6e31562e) and get educated on some incredible developments happening on Lightning. Then read about channel factories, DFC, BOLT12, TARO, DLCs.
i've got no answers, only additional questions, here's some implementations of the lightning network protocol: * LND - Lightning Network Daemon (Golang) * eclair - A Scala implementation of the Lightning Network (Scala) * lit - Lightning Network node software (Golang) * c-lightning - A Lightning Network implementation in C * rust-lightning - A Lightning Network implementation in Rust [Incomplete] * lightning-onion - Onion Routed Micropayments for the Lightning Network (Golang) * ptarmigan - C++ BOLT-Compliant Lightning Network Implementation my only question is really about compatibility these, and, are there centralized implementations of the lightning network that we should avoid?
tldr; Greg Sanders of Blockstream joins me to talk about Transaction Pinning, ANYPREVOUT and eltoo. We discuss a range of questions including how mempoolfullrbf helps and possible fixes for v3 transaction relay. We also talk about Lightning Offers and BOLT12. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*
A blockchain is just a database management system. Most people don't understand the difference between technology and open protocols. A technology can be an open protocol. An open protocol cannot just be narrowly described as technology. There has been a serious breakdown in understanding of what a blockchain (a term never used in the whitepaper) is useful for due to the [noise and scam](https://twitter.com/rusty_twit/status/1296596310921900034) negative feedback loop that began once it was possible to exchange bitcoin for dollars. There were no altcoins for 2.5 years. Not a single one. Bitcoin reached dollar parity in April 2011, and reached a price of $5 that month. Guess when the first altcoin was launched? >!April 2011.!< Blockchain is inefficient to do anything but maintain global state of timestamped transactional database at the base layer without losing security and making it centralized. Great for settlements and bitcoin network is the [most efficient settlement network in the world](https://www.nasdaq.com/articles/bitcoin-is-the-worlds-most-efficient-value-settlement-network) already settling higher value than US GDP but sucks for micropayments. If we go back to the formative years of the internet, it had a similar problem. Then along came "god of the internet", Jon Postel who argued that monolithic internet design can never scale and we cannot violate the principles of layering protocols. About TCP he said "be conservative in what you do, be liberal in what you accept from others". This is Postel's Law. Internet would not exist as it is today without separation of application layer. Application functions and experimental functions can only exist at higher layers and they absolutely do not require [premine, ICO, VC tokens](https://twitter.com/coryklippsten/status/1595564120782172160) just to make insiders rich. For bitcoin, day to day payments is an application of money as medium of exchange and Lightning is that payments layer. Bitcoin is conservative in what it does, but liberal in what it accepts from layered protocols built on top of it. Lightning is [private like cash](https://twitter.com/LN_Capital/status/1614308872973344768) (with Taproot) and has a theoretical throughput of several million TPS, likely to get [even faster](https://twitter.com/benbenbrubaker/status/1615781398022864927). There are so many cool things happening with Lightning. [Lightning login](https://twitter.com/apollosats/status/1593003920930275328) and P2P Lightning apps are going to take the web by storm and completely transform revenue models for all internet applications. It will also transform journalism and potential for public to directly incentivize and demand unbiased, independent journalism. Article behind a paywall cannot cost $0.0001 because of cumbersome legacy rails and middlemen rent seekers. No such problems with Lightning and [BOLT12](https://twitter.com/LN_Capital/status/1589321548133203968) will make this so much simpler and user friendly. Bitcoin protocol will be ossified just like TCP because if you sacrifice any of its properties even a little bit, it will become unsuitable as the base layer of money for the world. This is why layering protocols is critical. [This](https://twitter.com/BitPaine/status/1615764109638914049) is not as useful and solves no problems. Linking a centralized licensed wallet software to legacy browser to swap centrally issued premine, ICO coins interfacing with a central AWS server is hardly innovation. Impervious AI is doing something much more exciting than this. Nostr is infinitely more innovative than this solving a real problem. In fact, Nostr was able to build a decentralized social network protocol "because" it does not use a blockchain. Blockchain is not a panacea for every use case in the world but you can build layered protocols on top of it or parallel protocols that interface with them. TARO, RGB, DLCs, Robosats, Fedimint, Machankura, Zion, Impervious AI, Kollider, Nostr which are layered protocols and applications leveraging Lightning. There will be many more to come. Bitcoin is also not an investment, no one ever sold it to you. It's an open protocol built upon 40 years of research to fix money by removing trust in humans and released to the world for free. The same people (cypherpunks) who were involved in TCP/IP were involved in the research that contributed to the invention of bitcoin. It's a new monetary system built from the ground up by us, literally random people on the internet voluntarily supporting, securing and developing it. There's no company, foundation, premine, ICO, VCs, licenses, trademarks, branding or marketing teams, not even an official website, code repo or even a formal specification. Bitcoin had no right to succeed. Through voluntary adoption, bitcoin is where it is today against all odds, having started from zero 14 years ago. Learn how to [run a node](https://np.reddit.com/r/Bitcoin/comments/zturtd/think_bitcoin_is_inevitable_think_again/) and [Lightning node](https://np.reddit.com/r/Bitcoin/comments/zvj4xp/lighting_statistics_of_my_routing_node_6_months/) (very inexpensive to do), then a [home miner](https://np.reddit.com/r/Bitcoin/comments/zzraj0/comment/j2njt2a/) if you can. If you can code, you can [contribute to development](https://twitter.com/summerofbitcoin/status/1584910670814142465) and get paid through grants and sponsors. If you think something can be improved about bitcoin, who do you expect to do it but you?
!lntip 1000 The first challenge with money was "how do I transact with you if we don't both have something the other needs?" The next challenge with money was "how do I transact with someone who is physically separated form me?" Then there's another challenge too. If something that represents value can be easily produced then it loses its value which is not ideal because it doesn't actually solve the first challenge. The money needed to be hard and hold its value till you have the need to exchange it for goods. The solutions we found were first to agree to use something that was not inherently valuable itself but represented a notional value and then we introduced middlemen to issue money and maintain accounts and ledgers backed by something that cannot be easily reproduced but that's a problem too because the maintainer of ledgers can easily reproduce IOUs. Until 2008, we never really had a solutions. We had to settle for workarounds. We had to settle for "trust me, bro". Bitcoin solves ALL these problems. It's gold with a superpowers. Unforgeable cost of work, absolute mathematical scarcity and teleportation. For being a hard asset, bitcoin is also the easiest asset ever to self custody, it's the first time you have ever been able to truly own anything that is not subject to the whims of authority, it's unconfiscatable and you physically can take it literally anywhere with you without anyone knowing, even to the grave. But bitcoin has a problem too. Blockchain is inefficient to do anything but maintain global state of timestamped transactional database at the base layer without losing security and making it centralized. Great for settlements and bitcoin network is the [most efficient settlement network in the world](https://www.nasdaq.com/articles/bitcoin-is-the-worlds-most-efficient-value-settlement-network) already settling higher value than US GDP but sucks for micropayments. If we go back to the formative years of the internet, it had a similar problem. Then along came "god of the internet", Jon Postel who argued that monolithic internet design can never scale and we cannot violate the principles of layering protocols. About TCP he said "be conservative in what you do, be liberal in what you accept from others". This is Postel's Law. Internet would not exist as it is today without separation of application layer. For bitcoin, day to day payments is an application of money as medium of exchange and Lightning is that payments layer. Bitcoin is conservative in what it does, but liberal in what it accepts from layered protocols built on top of it. Lightning is [private like cash](https://twitter.com/LN_Capital/status/1614308872973344768) (with Taproot) and has a theoretical throughput of several million TPS. There are so many cool things happening in Lightning. I am not even fully up to speed with all of it. BTCPay Server has enabled [unified QR code](https://twitter.com/BtcpayServer/status/1596193870509137920) for on-chain and lightning. There's no more any confusion for the end user whether they pay on chain or lightning. Your wallet decodes accordingly. This is massive for UX. [Lightning login](https://twitter.com/apollosats/status/1593003920930275328) and P2P Lightning apps are going to take the web by storm and completely transform revenue models for all internet applications. It will also transform journalism and potential for public to directly incentivize and demand unbiased, independent journalism. Article behind a paywall cannot cost $0.0001 because of cumbersome legacy rails and middlemen rent seekers. No such problems with Lightning and [BOLT12](https://twitter.com/LN_Capital/status/1589321548133203968) will make this so much simpler and user friendly. TARO, RGB, Fedimint, Machankura, Zion, Impervious AI, Kollider, Nostr which are layered protocols and decentralized applications leveraging Lightning. [This](https://twitter.com/BitPaine/status/1615764109638914049) is noise. [This](https://decrypt.co/86503/defi-users-lost-billion-theft-fraud-2021-mostly-ethereum-report) is scam. [This](https://np.reddit.com/r/Bitcoin/comments/zd5vnj/bitcoin_is_for_everyone/) is signal.
Here's how: Firstly, we should establish that privacy is a fundamental human right. From the Cypherpunk Manifesto: “Privacy is necessary for an open society in the electronic age… Privacy is the power to selectively reveal oneself to the world.” Privacy on Bitcoin & Lightning should be a top priority for the whole community. Lightning is much more private than Bitcoin’s base chain, for a few reasons: 1. There is no central public ledger that permanently records transactions. 2. All transactions are conducted peer-to-peer, and therefore have no natural association with each other. However, Lightning is definitely not as private as we’d like it to be. (yet) Lightning is built on top of on-chain Bitcoin transactions (each LN channel requires a 2 of 2 multi-sig between peers). Therefore, most Lightning transactions can easily be associated with BTC transactions, and will inherit their privacy. And since LN is peer-to-peer, well-connected nodes can use timing analysis to link payments and de-anonymize transactions. This risk increases as nodes become more centralized (well-connected) over time. So what can we do to mitigate these risks and make Lightning more private? We have to solve two main problems: 1. Sever the link between on-chain & Lightning. 2. Add noise to routing data to break timing analysis. There are a few ways we can help sever the link between on-chain UTXOs and Lightning. The easiest method is simply coinjoining the UTXO before opening the channel. But we can also use Splicing to further obfuscate the on-chain history of a channel. Splicing is a new feature in development that allows you to update a channel without closing it on-chain. This means we can have channels perpetually swapping their UTXOs and remixing their on-chain history. So if someone is able to link your Lightning channel to a specific UTXO, you can simply splice the channel to change its on-chain history. Splicing still needs a lot of work before it's implemented, but it will provide a massive increase to the anonymity set of both LN channels and on-chain UTXOs. In addition to Splicing, Taproot enables an increase in privacy as well. Today, the output script of a lightning channel is a P2WSH (Pay to Witness Script Hash). While a normal bitcoin tx output is a P2WPHK (Pay to Witness Public Key Hash). Because of this, it’s trivial to distinguish between (and link) LN channels with normal bitcoin spends. However, Taproot allows both outputs to look the same on-chain (P2TR output). This helps obfuscate the transactions that are used to open LN channels. Now let’s move on to the timing analysis (routing analysis) problem. There are a few ways we can help mitigate this problem: 1. Multipath Payments 2. Timing delays 3. Blinded Paths 1. Multipath Payments: MPPs are a way of breaking one Lightning payment into smaller parts and sending them each on their own route. When they get to their destination, they are reunited into the full amount. All the major LN implementations support this today. By splitting a payment into smaller parts, it becomes harder for attackers to gain information about that specific payment. We can further enhance this by splintering the MPP, i.e, sending a shard of a payment to an intermediate node, and then splitting it into another MPP. Image 2. Timing Delays If nodes add a delay between when they receive an HTLC and when they forward it along the route, it will be harder for adversaries to do timing analysis & link payments together. This has some tradeoffs, however, and might not be possible to enforce. Read more here: arxiv.org/pdf/2006.12143… 3. Blinded Paths: Blinded Paths allow a user to send funds over the network without actually knowing where the funds are being sent. The last few hops of a blinded path transaction are encrypted so that only the most recent hop knows the destination of the next hop. The sender only knows whether or not the transaction arrived at its destination. They don’t know the destination or the route the payment took to get there. Blinded Paths can be implemented on BOLT 11, the current Lightning spec. And we’re almost there: https://twitter.com/realtbast/status/1603053124356390914 TLDR; Privacy on LN is important. By breaking the link between on-chain UTXOs and Lightning channels, we can get a huge privacy increase. But we also need to break the timing analysis attack. Fortunately, the builders are building! FURTHER READING: lightningprivacy.com/en/introduction
Let's see, I like the ease of use of the submarine swap wallet but wondered how they would ever scale up to the use of LNURL, or maybe BOLT 12.
I saw the help section, it is confusing tbh. It seems there are two forms to submit and the workflow is not obvious (which comes first? , who gets the link, the creator or the user, how do you embed the payment link in your html, does a session remember the unlocked state for repeat access, can a link be shared, after payment do you simply reveal content with url redirect or what does locking mean, etc. In the bitcoin world, invoices are specific terminology for the lightning network. Are you referring to a BOLT invoice? Lightning is usually the way micropayments are implemented for web content. The problem with paying onchain is the wait for confirmation and the transaction value that has to include fees which can be more than the transaction value. Always happy to see the technology develop but I'm just suggesting you flesh out the project. A live demo would be good.
In so far as Muun allows a user to send and recieve funds via LN, it's not really your place to say it's not a Lightning wallet. Especially when the reccommendation from many is to use something like Bluewallet, in it's place.. From a security / custodial perspective, Muun is way ahead of Bluewallet. How they go about implementing their operability with Lightning is their business. So long as they are compliant with the bulk of the BOLT spec, ie fulfilling the users ability to create / pay a Lightning invoice, they are no less of a Lightning wallet than any of the others. And of course they would use something like submarine swaps, to provide a means of moving between layer 1 and layer 2. This is exactly how services like Loop work. \[Loop was developed by Lightning Labs, the creators of one of the most popular LN implementations. If it's good enough for them, why not also Muun ?\]
This! I modified my [game](https://BitcoinDayTrader.nl) to 100% BOLT12.
BOLT#12 offers. Already mostly implemented in CLN. Waiting for LND, Eclair, and LDK.
[Nearly 100 million users have access to Lightning payments (as of March 2022)](https://arcane.no/research/nearly-100-million-people-have-access-to-lightning-payments) and it's powering a growing number of [bitcoin circular economies](https://threadreaderapp.com/thread/1573283006835482624.html) around the world in Africa, Asia and Latin America. [Bitcoin payment chain - streaming sats in different ways like passing around cash, digitally](https://nitter.net/CoinCorner/status/1588201644361121794#m) [South Africa's largest supermarket chain Pick n Pay enables Bitcoin payments nationwide at all outlets](https://www.businessinsider.co.za/pick-n-pay-expands-bitcoin-lightning-payments-test-plans-to-go-national-2022-11) Lightning protocol is only 3-4 years old but there are already 20k public Lightning nodes, more nodes than any altcoin. There's plenty of cool stuff happening on Lightning. Just a couple of cool little things recently. Open-source, self-hosted payment processor BTCPay Server has enabled [unified QR code](https://nitter.net/BtcpayServer/status/1596193870509137920#m) for on-chain and lightning. There's no more any confusion for end user whether they pay on chain or lightning. Your wallet decodes accordingly. This is massive for UX. Then [Lightning logins](https://nitter.net/apollosats/status/1593003920930275328#m) along with P2P Lightning apps are going to take the web by storm and completely transform revenue models for all internet applications. It will also transform journalism and let people directly incentivize and demand unbiased, independent journalism. Article behind a paywall cannot cost 1 sat ($0.0001) due to cumbersome legacy rails and middlemen rent seekers. No such problems with Lightning and [BOLT12](https://nitter.net/LN_Capital/status/1589321548133203968#m) will make all this so much simpler and user friendly. Look at all the posts and comments stacking sats on Stacker News, 1 sat per like. [Robosats](https://learn.robosats.com/) is a self hosted, self custodial P2P fiat on/off ramp and trading protocol on Lightning which is growing rapidly. Impervious AI is a P2P browser and suite of web tools built on Lightning. Kollider is an exchange on Lightning which lets you trade directly from your self hosted wallet, peg sats value in your wallet to a fiat currency and withdraw your bitcoin instantly through Lightning. RGB testnet wallet, Iris wallet is on play store and app store now. TARO is also in testnet now. It's a [very elegant](https://i.redd.it/bnzksocdbun91.png) decentralized stablecoin and assets protocol without central issuer which will allow users to hold self hosted bitcoin and stablecoin balance and swap between them through Lightning rails without going through any exchange at all. There's a lot going on with Lightning I'm not fully up to speed myself. If you want to get started with Lightning, Blue wallet would be a great choice. You can either host your own Lndhub instance with your node as I do or just use their instance. It has both on chain and lightning and in-app P2P purchases through HodlHodl.
>Nothing is happening in Bitcoin said some shitcoin creator to justify the existence of his shitcoin What it means is [Andreesen Horowitz and co](https://twitter.com/coryklippsten/status/1595564120782172160). aren't making premine, ICO shitcoins to dump on retail. They can't make them on bitcoin since maxis are intolerant to grifters and scams. Telling retail bitcoin is boomer coin is how VCs make money. VCs managed to market to fiat minded gamblers that web3 is linking a centralized, licensed wallet software which tracks all your activities to a legacy web browser to swap shitcoins on AWS. Lightning login and P2P Lightning apps are going to take the web by storm and transform revenue models for all internet applications. This is the real web 3. It will also transform journalism and potential for public to directly incentivize and demand unbiased, independent journalism. Article behind paywall cannot cost 1 sat ($0.0002) because of cumbersome legacy rails and middlemen rent seekers. No such problems with Lightning. [BOLT12](https://twitter.com/LN_Capital/status/1589321548133203968) will make this so much simpler and user friendly.
Some actions can’t be done with Muun like sending to a LNURL, you can only send to an invoice not like to a (tipping) static address (LNURL). In other words there must be an amount to send to. For instance Wallet of Satoshi has a LNURL (Lightning address), the wallets that leave a Lightning channel open like Bluewallet, Phoenix or Voltpay (With PoS and tipping address) can send to this, Muun can’t. I think Breez (PoS) also uses submarine swaps. You need to try them all for your best experience. Lightning is still young, BOLT12 is coming, let’s see. You can also run your own Lightning node.
Right, if you're concerned about UX + holding your own keys + privacy, you're still going to have to run your own node and put some effort into it (don't leak your IP, receive only via blinded path i.e. BOLT12, etc.) FWIW, Acinq have done a lot to champion trampoline routing and it seems like they really want out of the business of knowing Phoenix users' payment destinations. Having a multitude of trampoline routing nodes on the network would help here, as would route blinding on the receive side.
Nice article. Explains important features made possible by BOLT 12. *Reusable QR codes pave the way for use cases like recurring subscriptions and donations. Send and receive functionality can now be used for Lightning ATMs and private refunds. Finally, new features like route blinding, payer keys and Schnorr signatures will provide an extra layer of privacy.*
BOLT12 invoices - better privacy, more flexibility, better UX Taproot - reduced expense, better onchain privacy MuSig2 signatures - reduce cost, improve efficiency Improved gossip sync/efficiency - better routing success, improved UX Eltoo - reduced risk of losing funds, faster payments, less data storage required Splicing - dynamically resize channels, pay onchain from a lightning channel Trampoline routing - increased ease of use for lightweight LN nodes, improved privacy Peer-to-peer liquidity services (peerswap, liquidity ads) - better decentralization, reduced costs I could go on, but if you're not excited for any of that, I don't know what to tell you.
I'm very excited for BOLT12! !lntip 1000
I'm really excited for BOLT12. The integrations that's going to enable are gonna be unbelievably dope.
The LNURL is a nice feature, let's see what BOLT 12 brings.
I can't believe you didn't mention the number one application which is Robosats and it's completely self hosted, self custodial P2P fiat on/off ramp and trading protocol on Lightning. Impervious AI is a P2P browser and suite of web tools built on Lightning. Kollider is an exchange on Lightning which lets you trade directly from your self hosted wallet, peg sats value in your wallet to a fiat currency and withdraw your bitcoin instantly through Lightning. Some Lightning apps do have decentralized hosting or client side hosting but some are just Lightning integrated applications. Developments are happening so fast on Lightning that I'm not sure if I'm fully up to speed myself. People are amazed just by making Lightning payments but until you run your own Lightning node, you can't appreciate how freaking awesome the protocol is and we're just getting started. Just a couple of cool things recently. BTCPay Server has enabled [unified QR code](https://nitter.it/BtcpayServer/status/1596193870509137920#m) for on-chain and lightning. There's no more any confusion for the end user whether they pay on chain or lightning. Your wallet decodes accordingly. This is massive for UX. Then [Lightning login](https://twitter.com/apollosats/status/1593003920930275328). Lightning login and P2P Lightning apps are going to take the web by storm and completely transform revenue models for all internet applications. It will also transform journalism and potential for public to directly incentivize and demand unbiased, independent journalism. Article behind a paywall cannot cost $0.0001 because of cumbersome legacy rails and middlemen rent seekers. No such problems with Lightning and [BOLT12](https://twitter.com/LN_Capital/status/1589321548133203968) will make this so much simpler and user friendly. Look at posts on Stacker News stacking sats, 1 sat per like. In terms of protocols on Lightning, TARO and RGB have limitless potential and will allow all sorts of experimentations without messing with the core Bitcoin protocol. RGB testnet wallet called Iris wallet is on play store and app store right now. TARO is an [incredibly elegant](https://i.redd.it/bnzksocdbun91.png) decentralized stablecoin and custom assets protocol without central issuer which will allow users to hold self hosted bitcoin and stablecoin balance or other assets and swap between them through Lightning rails without going through any exchange at all. It's one of the most exciting developments right now. Bitcoin developments are always high signal, low noise. Lightning is also private by default. This is the most ideal form of privacy. We want to have privacy for individuals but also transparency with regards to governments and large corporations. Bitcoin allows this brilliantly because Lightning will never be suitable for large settlements but at the same time it's perfect for day to day payments and micropayments. There's a $625,000 IRS bounty since 2020 for anyone who can crack Lightning or Monero privacy. Bad news for them Lightning only becomes even more private with Taproot. It's time for every wallet provider to switch to bech32m as default.
Yes please and thank you…..does BOLT 12 also simplistically say ‘f u’ to third parties even more?
[This guy](https://twitter.com/CapitalistDog1/status/1589643336146915329) says that BOLT12 is "attack on the network", anyone has an answer to this?
since it's not a split in the blockchain there will not be a hardfork. however the, in my understanding, the LN-node and the client must support BOLT 12
Text from Twitter: Firstly, what is a BOLT? BOLT stands for Basis of Lightning Technology It’s a type of draft specification, similar to a BIP. BOLT 12 is being developed on @blockstream ’s c-lightning by @rusty_russel When finalized, it will need to be implemented by either eclair @acinq or lnd @lightning to be considered ‘activated’ So what problems does BOLT 12 solve? To answer this question, let’s take a look at the current invoicing protocol on Lightning, BOLT 11 BOLT 11 Invoices have three main components: 1. A Destination(Node pubkey) 2. An amount(denominated in sats) 3. A payment secret(hash) [image] 1. A BOLT 11 invoice can only be used once. As soon as the invoice is created, the payment secret can be leaked. If you were to create a new invoice with the same secret, someone could discover the secret and claim funds that aren’t theirs. 2. Because each invoice can only be used once, they must be generated in real-time. This means that BOLT 11 invoices aren’t ideal for donation pages, printed price tags, and other asynchronous payment scenarios. For example, if you were selling apples in a grocery store and printed price tags on them denominated in sats, the USD value may increase before someone buys your apples. This leaves merchants exposed to BTC’s volatility until BTC is widely adopted as a unit of account. 3. BOLT 11 invoices can only be used to receive, not send. This prevents the use of credit invoices. For example- a BOLT 11 Lightning ATM would not be able to send you sats in exchange for dollars, you would have to create an invoice and send it to the ATM(not ideal UX). With BOLT 12, you would insert your fiat dollars, scan a QR code, and the ATM would pay you. To summarize: BOLT 11 invoices can only be used once(insecure) They MUST be generated in real-time(bad for donations, price tags) BOLT 11 invoices can only be used to receive, not send. So what’s BOLT 12? In short, BOLT 12 is a new specification for Lightning invoices. It consists of a new type of invoice called an “offer”. You can think of an offer as a ‘meta’ invoice- an invoice on top of an invoice. You can scan a BOLT 12 offer and your wallet will prompt you to pay it, just like BOLT 11. But it could also offer to send YOU money, like in the ATM example above. Unlike a BOLT 11 invoice, you can reuse them to create static Lightning invoices on donation pages, billboards, or even a tattoo(although, tattoos aren’t recommended until the BOLT is fully ratified😂) Now you’re probably thinking, “this sounds a lot like LNURL. Why not just use that?” The main difference is that BOLT 12 offers are Lightning-native, i.e- they do not require a web server, TLS certificate, and a domain name. BOLT 12 is a protocol layer solution to the invoice problem, while LNURL is an application layer solution. This means BOLT 12 has better privacy, less centralization risk (DNS), and better UX for non-technical users. What can we use BOLT 12 for? 1. Subscriptions. BOLT 12 offers can ask users to pay an invoice every day, week, or month(denominated in USD or sats) Wallets still need to build out this functionality, but the infrastructure will be in place. 2. Bitcoin Lightning ATMs Offers can send you money in the form of a credit invoice. This was previously impossible, and allows for better UX, which leads to adoption. 3. Private Refunds Instead of a user creating an invoice and sending it to a merchant for them to pay, a user can scan a ‘refund’ offer and receive their sats without creating their own invoice. This is more private for the receiver, and has better UX overall. TLDR: BOLT 12 is a draft specification for a new ‘meta’ invoice called an offer. Offers are static, and allow users and merchants to both receive AND send. Because offers are persistent, and can be denominated in USD, they remove BTC volatility for merchants. BOLT 12 has many other features, including privacy enhancements, that were outside the scope of this thread. Comment below if you want a part 2! Thanks for reading, and follow us for more. https://bolt12.org
Twitter really is the stupidest format. But if you want to read, I've copied all of it here: -------------------------------------------------------------------- Firstly, what is a BOLT? BOLT stands for Basis of Lightning Technology It’s a type of draft specification, similar to a BIP. BOLT 12 is being developed on @blockstream ’s c-lightning by @rusty_russel When finalized, it will need to be implemented by either eclair @acinq or lnd @lightning to be considered ‘activated’ So what problems does BOLT 12 solve? To answer this question, let’s take a look at the current invoicing protocol on Lightning, BOLT 11 BOLT 11 Invoices have three main components: 1. A Destination(Node pubkey) 2. An amount(denominated in sats) 3. A payment secret(hash) 1. A BOLT 11 invoice can only be used once. As soon as the invoice is created, the payment secret can be leaked. If you were to create a new invoice with the same secret, someone could discover the secret and claim funds that aren’t theirs. 2. Because each invoice can only be used once, they must be generated in real-time. This means that BOLT 11 invoices aren’t ideal for donation pages, printed price tags, and other asynchronous payment scenarios. For example, if you were selling apples in a grocery store and printed price tags on them denominated in sats, the USD value may increase before someone buys your apples. This leaves merchants exposed to BTC’s volatility until BTC is widely adopted as a unit of account. 3. BOLT 11 invoices can only be used to receive, not send. This prevents the use of credit invoices. For example- a BOLT 11 Lightning ATM would not be able to send you sats in exchange for dollars, you would have to create an invoice and send it to the ATM(not ideal UX). With BOLT 12, you would insert your fiat dollars, scan a QR code, and the ATM would pay you. To summarize: BOLT 11 invoices can only be used once(insecure) They MUST be generated in real-time(bad for donations, price tags) BOLT 11 invoices can only be used to receive, not send. So what’s BOLT 12? In short, BOLT 12 is a new specification for Lightning invoices. It consists of a new type of invoice called an “offer”. You can think of an offer as a ‘meta’ invoice- an invoice on top of an invoice. You can scan a BOLT 12 offer and your wallet will prompt you to pay it, just like BOLT 11. But it could also offer to send YOU money, like in the ATM example above. Unlike a BOLT 11 invoice, you can reuse them to create static Lightning invoices on donation pages, billboards, or even a tattoo(although, tattoos aren’t recommended until the BOLT is fully ratified😂) Now you’re probably thinking, “this sounds a lot like LNURL. Why not just use that?” The main difference is that BOLT 12 offers are Lightning-native, i.e- they do not require a web server, TLS certificate, and a domain name. BOLT 12 is a protocol layer solution to the invoice problem, while LNURL is an application layer solution. This means BOLT 12 has better privacy, less centralization risk (DNS), and better UX for non-technical users. What can we use BOLT 12 for? 1. Subscriptions. BOLT 12 offers can ask users to pay an invoice every day, week, or month(denominated in USD or sats) Wallets still need to build out this functionality, but the infrastructure will be in place. 2. Bitcoin Lightning ATMs Offers can send you money in the form of a credit invoice. This was previously impossible, and allows for better UX, which leads to adoption. 3. Private Refunds Instead of a user creating an invoice and sending it to a merchant for them to pay, a user can scan a ‘refund’ offer and receive their sats without creating their own invoice. This is more private for the receiver, and has better UX overall. TLDR: BOLT 12 is a draft specification for a new ‘meta’ invoice called an offer. Offers are static, and allow users and merchants to both receive AND send. Because offers are persistent, and can be denominated in USD, they remove BTC volatility for merchants. BOLT 12 has many other features, including privacy enhancements, that were outside the scope of this thread.
Sounds like you might be interested in BOLT12 which could do just that. https://bolt12.org/
It kinda is? This is Bitcoin + Lightning Network + LNURL + NFC. The UX of that stack is unmatched by any other cryptocurrency protocol, at least for payments at that speed and that cheap. I'd say this is far from a given. Bcash dismissed the LN approach in favor of bigger blocks and centrally Sybil attacking the network to attain some minimal confidence for 0-confirmation payments. Etherium dismissed it too in favor of shorter block times and other L2 approaches which invariably still require full chainstate consensus (versus local channel consensus in LN) so that they still quite expensive. Even LNURL used to get some pushback from people who prefer to integrate it as a BOLT standard instead. It took time, and many iterations of building, and all this basically grassroots and free from VC-ICO appcoin-shitcoin incentives.
Just ordered the BOLT Cards :) thanks to your Post!!! Spreading the spirit of BTC my Friend! If i´d had an award i´ll give it to you no doubt! Cheers Mate!
>Sounds like a solution without a problem. I don't necessarily agree with this. Scanning QR codes is a lot less convenient than just tapping a card with NFC, and in practice, in the UK, merchants never rip you off by overcharging. Of course, that doesn't mean that you should use contactless if some dodgy-looking guys try to [sell you speakers out of the back of a white van](https://en.wikipedia.org/wiki/White_van_speaker_scam) on the street, but in a normal retail payments context it works very well. But obviously, if you had contactless be unlimited and have it be like handing out blank cheques, then they could request £10,000 from you and drain your bank account, and then close up shop and run away. So you don't allow it to be used that way, by having a sensible limit, and there's not much downside to this because nobody _needs_ to use contactless to send £10,000. It's mostly supposed to be for small amounts, like you might use pocket change for to buy a newspaper or a coffee, or something like that. Sometimes QR codes can be thwarted completely by glare from the sun, bad screens, and things like that, and also the more data you pack into a QR code the more finicky it is to actually get it to register, which I've personally found annoying plenty of times. Even when the QR code is easy to scan, it's still arguably not as convenient. The card can also still operate when you don't have an Internet connection in the store. Also, I think in the UK people are already very used to paying with contactless debit cards, so scanning a QR code feels like a clunkier thing than this and therefore not as 'cool' to spend your Bitcoin. Personally I wouldn't let that stop me, but maybe it would with some other people. >Spending limits are already commonplace in the banking world, so why bring it to bitcoin? With the spending limits, it's totally on the customer's side how they want to set it up (in the context of using it in a self-sovereign way). It's not something that prevents you from accessing your own money. So, being totally non-custodial and running your own node, you could also have the [Zeus](https://www.youtube.com/watch?v=hmmehTnV3ys&t=348s) app on your phone and connect it to your own node at home, and spend from the exact same source of funds as the card. That way, if you do hit your own personal-defined spending limits, you can just do a transaction from your phone instead. It's not supposed to be there to prevent you from continuing on with your lavish shopping spree, but the idea is that you set it to what you might use in a normal day for small purchases, like a packet of crisps, or a coffee and a sandwhich here and there, so that it's convenient but still secure enough that you're not risking very much in the 0.1% chance that a merchant tries to rip you off, or in case you lose the card or are pickpocketed. There's all sorts of ways that you could improve it also, but the user would be in control, so it's not like a bank telling you that you cannot withdraw any more of your own money from an ATM for the rest of the day because you've hit the withdrawal limit. The limit on contactless debit card payments in the UK is £100, but even there it doesn't mean that you can't use debit cards for more than £100 in the UK. It would just require you to not do it with contactless; instead you would have to use chip and pin. In this context and in my example, the fallback would be using the Zeus app instead of chip and pin. So you might not want to use it as a way to pay for a £300 grocery bill for a large-family. For that, you might want to whip out your phone and send the funds using the QR code. As I said, the merchant's POS also shows the standard BOLT11 invoice, so you can still use that. Again, it could be from the exact same source of funds as the card with an app like Zeus, as Zeus would be remotely connected to your own lightning node just like your own LNURL server would be, so it doesn't necessarily mean that you have to split up your funds up into different apps either. So you can use the card for buying a packet of crisps, a beer, or a snack at a cafe, or something like that, and have a daily spending limit, and use Zeus for larger amounts. And you can decide how high you want that number to be, personalized to your own daily habits. You could also do it by using your phone to pre-authorize the exact amount, and round up to the nearest whole number and add a small buffer (say +1%), so you don't have to type in the exact amount. So if you are being charged £21.45, you could just type in £21 and it pre-authorizes the next tap of the card to only allow a payment of £22 +1%. But this means that the phone would have to be online. The card by itself can be offline, and in practice it's probably secure enough without this, but again it would be up to you (assuming that easy enough tools to do this become available). Maybe even more convienient, you could also have a system where you authorize the exact amount for the very next tap of the card on a smartwatch or Apple Watch (again round up and add +1% say, so you don't have to be exact). Tools like this could be built. It's on the customer's end how fancy you want to get with it. All you're doing is communicating with your own LNURL server and letting it know what to expect on the next tap, so it can adjust the payment limit dynamically. It could timeout after two minutes and go back to a disabled state, or whatever, so you would have to use the smartwatch to pre-authorize a transaction or it doesn't work at all. I think I'd like to see the ability to add a 2-factor authentication mechanism, so that when you tap, you get a notification sent to your phone or smartwatch with the exact amount being requested by the merchant, and you have to click Approve for it to go through. I don't think that the merchant's POS system would have to be changed for this ability, because you could do it at the final step when the merchant sends the lightning invoice to the LNURL server. At that point, the LNURL server knows how much is being requested, and then the LNURL server could contact the customer's phone to get the final authorization before the sign and send. Perhaps you could only require this authorization when the amount is above your default limit, so you do not require it for small purchases, but you still require authorization for large purchases. Or perhaps you would prefer to always require approval for any transaction, no matter how small it is. So with the appropriate tools, there are a lot of different things that users could do really. Nothing in particular that prevents any of this but it's still early days yet. >Did the types of pull transactions get invented so that users are forced to set spending limits as a precaution? Not sure what this question is asking. I mean, obviously the motivation of this card isn't to introduce spending limits. I know that's probably not what your question is but that's how I'm interpreting it.
>So is that a dedicated POS system for Bitcoin? Yes, although I think this particular POS device could be used for Visa and Mastercard as well, but that would be with a different app on the device. I think it's probably just a generic android POS device that you can write different apps for. This POS software is just a particular app written for the device for accepting lightning payments, and it has the ability to do this LNURL-withdraw payment flow with the NFC Bolt Cards. Other lightning POS systems are also currently working on adding support for these cards: https://twitter.com/VoltPayApp/status/1549945092202328064 On the merchant end it's actually pretty simple. It's more complicated on the customer end, ironically. > What methods of paying with Bitcoin does it allow for other than that debit card? A standard BOLT11 invoice is shown on the device as well, so you could pay using your regular lightning-enabled smartphone wallet app as well.
Apologize for the long response, but I'll try to explain. The card can be used without any middlemen for both the customer and the merchant (other than the usual Lightning channel partners, if you want to count those). In this case, the business is probably using CoinCorner as a payment processor, but they don't necessarily have to. The card uses an [NXP NTAG 424 DNA](https://www.nxp.com/products/rfid-nfc/nfc-hf/ntag-for-tags-labels/ntag-424-dna-424-dna-tagtamper-advanced-security-and-privacy-for-trusted-iot-applications:NTAG424DNA) NFC chip. The chip is initialized with a secret and is set up to generate a unique LNURL-withdraw payment code every time that you tap the card. This URL could point to the customer's own server that they fully manage for themselves. The LNURL server would also know the secret that was flashed onto the card, and can use it to validate the payment request. This way, the LNURL server can be confident that the payment request could have only been generated by the card itself. If the payment request is valid, the server will authorize the merchant to pull BTC from the customer's own lightning node running at home. There is a nice article that describes [how this feature works](https://nfcdeveloper.com/blog/2021/12/01/how-does-dynamic-url-work.html) on the NFC chip. The URL it produces uses [LUD03](https://github.com/fiatjaf/lnurl-rfc/blob/luds/03.md) and [LUD17](https://github.com/fiatjaf/lnurl-rfc/blob/luds/17.md) from the LNURL spec. This [diagram](https://nfcdeveloper.com/assets/img/app-tutorial6.png) ([source](https://nfcdeveloper.com/tag-app/tutorial/)) also nicely explains how it works. In this case, the 'User with a smartphone' would be the merchant's point-of-sale device, and the web application would be the LNURL-withdraw server. There's a [draft pull request](https://github.com/lnbits/lnbits-legend/pull/674) in LNbits for this purpose, and an accompanying [article](https://www.whitewolftech.com/articles/payment-card/) that describes the process of initializing the card. So the tools are still in the process of being built for home use atm. These payment codes would be good for one-time use only. Every time that you tap the card, a new unique request is generated. There is no replay attack potential, as the LNURL-withdraw server would validate that each payment request could only have been generated by the card itself, and it will only process a withdrawal once for each unique payment code. This means that the merchant cannot just save the payment code and keep requesting a payment over and over again to drain your funds. The merchant cannot just increment a counter in the URL either, as the counter is encrypted by the card (using AES-128) using the secret, and only the LNURL server can decrypt that. I'm assuming that all of the cryptography is sound and that there is enough entropy and such that you cannot brute force URL request attempts until you find one that works. I personally have no idea about possible attacks along those lines. The LNURL-withdraw server can also enforce limits on how much can be withdrawn. You can set it up so that each payment code can only be used for a maximum of £60, or whatever you want. The merchant does not have to (and should not) take the maximum of £60 though. Say if you are only purchasing a £20 item, they should still only generate a £20 lightning invoice, not a £60 one. The idea is that the maximum they could do is steal £40 from you, if they were shady operators. You can also set a daily maximum limit. In the UK, we already have widespread use of contactless payments with NFC-enabled debit cards, and they have a very similar mechanism where they cannot be used for purchases of over £100. This is a global limit that is set for everybody. It was [raised to £100 from £45 during the pandemic](https://www.bbc.com/news/business-58898474), probably to further discourage the use of physical banknotes and coins from being exchanged. Fundamentally, limits like this are needed because it is a pull technology and not a push technology. Even though 99% of the time the merchant will not request more than the payment amount, they still could, so you don't want to enable them to be able to drain your entire account. As you can see, the POS also displayed a BOLT11 QR code, so the customer can just pay in the usual way with a lightning-enabled wallet as well, which would be using a push technology to send the exact amount.
Yes, this release upgrades the on chain wallet and related systems to be able to implement an initial version of taproot-flavored channels. There's a current BOLT spec draft in an early stage that targets a simple version of taproot channels that uses musig2 for the funding output.
Check these out: [Lopp's aggregate community Lightning resources](https://www.lopp.net/lightning-information.html) [Lightning labs Dev community resource list](https://docs.lightning.engineering/community-resources/resource-list) [Basis Of Lightning Technology BOLT specificiations](https://github.com/lightning/bolts) [Lightning dev mailing list](https://lists.linuxfoundation.org/pipermail/lightning-dev/)
tldr; BOLT 12 is a way to have a single QR code, an "offer," allow you to grab invoices from a node in a privacy preserving way, while also allowing for things like requesting that a remote node pay your invoice. LNURL is a stack of simple protocols for coordinating information needed to make payments over the Lightning Network using HTTP. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
And RGB stole the idea from Peter Todd's research... Welcome to an open source world. RGB as imagined currently is not better than TARO. Very similar but I'd much rather see TARO because it's certain to be smoother and optimized as Lightning Labs is responsible for the LND implementation on the LN. And because they plan on BOLT spec'ing it. I've heard no such plans from RGB. They probably want to license it and other shit which is why they're complaining.
I'd like you to read this link below on running a Lightning Node. It's important. Also, running an LN node is going to become much easier once we live in a Taproot world, get everything BOLT spec'd, and increase LN capacity by 5x (probably early next year). [https://darthcoin.substack.com/p/recommendations-for-ln-users?s=r](https://darthcoin.substack.com/p/recommendations-for-ln-users?s=r)
tldr; The web is a tool, but it’s become an integral part of us that we use constantly without even thinking about it. We don’t want to live without either one, but the seams between them are palpable, sometimes awkward. Lightning is a conduit between you and that global network of value. Lightning addresses can be extended to use static invoices or BOLT 12 *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Does this conform to BOLT spec or is it proprietary for a specific LN implementation?
It depends on the BOLT11 standard being used by the app/QR-Code. By default, Lightning uses invoices which request a set amount, hence would be faster (no input), but there's a BOLT11 standard that now (Been around for at least a year I think?) allows the request to to be input by the suer (as per OP).
You have to spend money to make money. BOLT making is steps in crypto is what i see here.
But Lightning Network (BOLT) symbol - also two years ago? No way :)
By the spec (BOLT11) it's "n" field. These JSON decodings are implementation specific. https://github.com/lightning/bolts/blob/master/11-payment-encoding.md
I'm commenting in response to the reports on this post. OP's title is inflammatory and the summary is clearly very biased. Aside from the conspiracy witchhunt nonsense, it does appear that some Lightning developers have shared legitimate grievances with how Lightning Labs has allegedly been less than cooperative regarding the BOLT specification process in order to boost their monetized proprietary solutions. I'm still catching up on the background but hopefully devs can work out their differences for the betterment of the Lightning Network.
\### Blinded Paths BOLT11's designer is also the designer of BOLT12, and BOLT12 is responding to one of the deficiencies inherent in the BOLT11 design which is the inclusion of receiver UTXOs. This is a big new feature and has been addressed in theoretical discussions around rendezvous routing, but basically there is a real problem in LN where the receiver of a payment is by default far less private than the payer. I have fewer objections to this part of the proposal, although using Lightning every day for years now my impression of this proposal is that it will work better on paper than in practice. Hiding the end of a route is very reasonable but you can already hide the last hop to a large degree with fake UTXOs in BOLT11, so it's already possible and deployed experimentally but not very well supported by implementations. Going beyond one hop I think you will start to have issues where routes don't work. Other than that I think it's a great idea. People have also raised the question of scope creep here. It's deliberately included as a feature to try and force implementation, but it's not a strict necessity of the other features and its inclusion implies that BOLT11 would not have privacy in the future. Promoters of BOLT12 also are using this privacy feature as a cudgel towards adoption of a wide feature set where this aspect is just one element. This creates a bad environment to even discuss the standard itself. \### Schnorr Signatures and X-Only Keys Moving to Schnorr signatures is great, although it kind of hints at a larger aspect of the spec which is that it seems designed as a way to push people in a specific direction rather than strictly cater to addressing current problems. The most inclusive way to spec things would be to make allowances for ECDSA-only nodes, that would be more in line with an incremental spec approach. This is kind of pushing for a change to just avoid dealing with all of the legacy of what we have today, but a lot of times software is all about the annoying work of dealing well with your existing legacy. \### Payer Proofs and Merkle Trees I don't really have anything against payment proofs, this is really already an existing if not often used feature in BOLT 11. The question here is really for implementation, if this is already a lesser-used feature, do we want to expand the cost of implementing to add to something that isn't yet maximally used? \### Wire Protocol BOLT12 uses bech32 to represent the request, so the simplest possible example is lno1pg257enxv4ezqcneype82um50ynhxgrwdajx283qfwdpl28qqmc78ymlvhmxcsywdk5wrjnj36jryg488qwlrnzyjczlqs85ck65ycmkdk92smwt9zuewdzfe7v4aavvaz5kgv9mkk63v3s0ge0f099kssh3yc95qztx504hu92hnx8ctzhtt08pgk0texz0509tk To me this is basically the same as the existing BOLT11, which is to say that it is not terrible but it has some problems. It uses a concept of encoding that was designed to allow you to eyeball a Bitcoin address to make sure you didn't type it in wrong. But the data is impractically long to do that and there has long been a weird aspect of BOLT11 that the checksum for Bitcoin addresses was never designed to work with long payment request type data and it kind of falls apart when repurposed for that, this is noted in the BOLT itself. Merchants on the ground also tell me that BOLT11 invoices fail when used at point of sale, the data can easily be too large to work reliably in QR codes when combined with the expansion of data from the other fields. People seem to live with these long requests today so it's not any different, but if I were designing a protocol concept for a request/response flow of invoice delivery, which I have actually experimented with, I would try and get this data to be super tight, more in line with the length of a Bitcoin address, maybe even an old-school 1xx one, which was originally shortened from longer public keys partially for user interface reasons. \### Extensible BOLT11 in its specification is said to be "extendable" (3rd word), which kind of undercuts the promise of BOLT12 being extensible if BOLT12 replaces BOLT11 with a totally different way to do payment requests. Extensible standards have a lot to offer but in a way they can also be difficult to maintain since there can be a tendency to bloat extensible standards. There are lots more features in BOLT12 which aren't even listed as bullet points in the marketing, and I could respond to those as well, but I think that their absence illustrates how complex a feature set is described by the spec and that people who request its adoption aren't really understanding the scope of what they are asking for. It's hard work to design good standards and good software so I can't be critical of the effort, I think it's very useful that we have different options out there. What I would be critical of is political pushes to get standards adopted that try and override reasonable disagreement for tribal affiliation. Ultimately this is Bitcoin, your node can do whatever you want and what standards will work out is more up to what people want to use and what genius ideas and software people can invent. I'm hoping for more payment protocol ideas and more refinement and evolution rather than selecting any existing proposal as-is.
A new discussion this week about the "BOLT12" proposal can potentially drop some clarity on development and priorities and what are options around adopting this in-progress protocol concept: "BOLT12" https://github.com/lightningnetwork/lnd/issues/5594 Despite the name BOLT12 it is not really yet a BOLT standard and it is more of an additional feature that isn't necessarily mission critical to many users' experience of Lightning. The way that BOLTs are standardized is also arbitrary, what goes into the standard doesn't require peoples' consent so it's more of an opinionated set of documents controlled by an arbitrary process than it is a treaty between independent implementations. In the current process rulebook, if your side produces Lightning software that only 1 or 2% of the network uses, you still get to set the "standard" for the remaining 98 or 99%. So if developers are focused more on dealing with current problems and the security of funds rather than compliance with ruling bodies, they might be inclined to adjust their development priorities away from compliance with specs and towards solving the immediate problems of the 99%. BOLT11 as a standard was not originally part of LND, there was another serialization of the payment details, and even now there is no real need to serialize your payment data as BOLT11, it's just one format for this. You can think about it like YAML vs JSON vs XML, it's a wrapper on top of data needed to make a payment. Many times that I make payments I don't even bother with BOLT11 and things like KeySend payments never use it. There are lots of good points to think about in the above BOLT12 issue but I can give my own personal take on it, following the outline BOLT12 makes in their marketing materials: \### Onion Messaging and Native In this requirement for the payment protocol, the Lightning Network would carry a new functionality which would be arbitrary point to point free-of-charge message passing. This would let you make a short "invoice" which would be a pointer to your node. Payers would send a request message across the network to your node, so you'd be serving requests and sending back details using the same arbitrary message passing. Message passing would be onion encrypted so there is no way for relayers to know if the messages are invoices or if they are Lady Gaga videos, which may be good or bad depending on your perspective. Since the invoice details are in a response you would also have to have a node around and responsive for people to even get the details of what they are paying, a new requirement. From my perspective private arbitrary message passing is a good goal to have in the long run but as a node operator myself I'm already subjected to a lot of potential DoS vectors and cost burdens and I'm concerned about adding on more. I know about and have known about all sorts of problems I'm not inclined to detail or amplify because they potentially negatively impact my node and my own funds, but I think these security issues deserve prioritizing and we shouldn't expect people to run this software with real funds unless we aren't just hand-waving fixes in the future, we are actively focusing on locking things down. There hasn't been much said in response to this DoS concern other than to say that you can rate-limit, which is kind of a vague and unsatisfying response. I'd also like to see a tighter relationship between resource consumption and compensatory fees, to support sustainable operation and not rely so much on altruism or potential nefarious benefits like traffic analysis. If messaging is trivial to anti-DoS, then that could be demonstrated by addressing existing DoS vectors today. If we can't even rapidly deploy universally agreed upon standards that protect the security of funds like anchors, is it right to assume that we will have the bandwidth for inventing novel ways of rate-limiting traffic that we also deliberately design to be private and hard to stop? Even beyond that, there are other non-technical problems arising from advertising support for arbitrary messaging. Unfortunately Tor relay operators are often harassed despite deliberate technical limitations on their responsibility for traffic they relay. This is not to say that I love other payment protocol solutions that rely on Tor or I2P or regular web traffic to convey the same data, it's more to say that BOLT11 is doing a good job at the moment of saying that it is just a data wrapper and communicating that data is an open-ended problem. I made a system myself to communicate payment request data over KeySend, it was able to use regular BOLT11 inside its delivered packets. Another way I could see to incorporate this new functionality would be in a separate and isolated free protocol, so you could have a clearer line between things that you can rely on and experimental protocols that deliver new functionality but might break.
I dont understand, no one is forcing anyone into BOLT process changes. If c-lightning doesn't want to provide the same support that LND is, then thats totally fine. There's a TON of legit arguments that further privacy measures shouldn't be prioritized for the lightning network. and that functionality, ease of use, watchtower-like security should be prioritized. **No one is imposing any code on anyone.** And don't come back saying thats your opinion. It's simply a false statement. You are either misinformed or lying. There is 0 daylight to make that a legit argument. There is also no problem if they were to want to accept a bolt and others are not. There's no law saying that we need a consensus on all of this. Preferably I think these devs are wasting a ton of their time instead of working more on eltoo. But I'm not going to be salty that they don't agree.
Sorry if this comes across the wrong way. But there are legitimate concerns from other Lightning implementation devs like RustyTwit and ACINQ, with corroboration of from trusted devs like BlueMatt. This is what tipped the balance for me. LND devs are being accused of undermining privacy oriented updates, and worse, the BOLT process itself, which is what open source is all about: you want cross-compatibility, you want community input. LND has clearly been trying to establish market dominance, to then unilaterally impose their code and their implementation without community support, without consensus. That's clearly against the spirit of open source. And on top of that, they haven't been able to convincingly explain their relations to the WEF and other centralized institutions. The rumors I can ignore. This behavior on how they write code, can't be tolerated.
>Once we connect with a peer, we'll then initiate the DLP protocol. The remote peer will discover that we've lost data, and then immediately force close their channel. Before they do though, they'll send over the channel reestablishment handshake message which contains the unrevoked commitment point which we need to derive keys (will be fixed in BOLT 1.1 by making the key static) to sweep our funds. Does this mean that currently channel fund recovery is entirely dependent on your channel partner still existing and cooperating?
>Before it was amount less (as shown in Marc Falzon's video) but now when you scan the BitcoinBeach QR code, it provides you a prompt to adjust the dollar amount before generating an invoice Yes, that's a relatively new feature so wallets without support for amountless invoices can still pay (like Muun). I believe amountless BOLT11 invoices are secure now with AMP technology stuff (and are even able to be static/reusable), but some wallets still don't allow it. The ecosystem is a bit fractured with different wallets not having full support for all of the different standards/methods. To do it on one phone with the Bitcoin Beach web pages, you can click the QR code (do it after you've set the invoice amount) and it will copy the invoice onto your clipboard. Then you can go to your wallet app and paste it in. So you shouldn't need to use two phones. The QR code contains the same data that you can just copy by clicking on it. You can also append `/print`to the Bitcoin Beach web page URLs to get a lightning address and a LNURLpay static QR code. See [here](https://ln.bitcoinbeach.com/mamarosa/print) for an example. This is very new, only a [week old](https://twitter.com/nicolasburtey/status/1471116186792472576), and again not every wallet supports LNURLpay, like Muun (but I believe BlueWallet does support it). The benefit of these is that the merchant can print them out, as they're static and reusable. So you could scan them directly from a printed sign in the store in your wallet app, instead of with your camera app. The wallet app will then fetch the actual invoice from the web server when you scan it, so you don't have to open the web page in a browser yourself and get the invoice manually. And there is still a step for typing in the amount first. But it's yet another QR code type that does not have universal wallet support yet (if ever). With the lightning address you can also just type that in, and then it essentially does the same thing as scanning the LNURLpay QR code. You could try that on your BlueWallet. Might be fun to pay that way! There is also BOLT12 offer technology still to come, which is also a static QR code method that can be printed out. So I think it's just going to take time for things to settle down and become mature and universalized. It's awkward at the moment as you have discovered. You can also pay to a merchant's Strike account without you yourself having Strike, by using their account username URLs: https://strike.me/mamarosa. Although, perhaps confirm that it is indeed the merchant's Strike account and not an impostor first, because I don't know if all Bitcoin Beach merchants necessarily have identical usernames on Strike too. The QR codes for Chivo-to-Chivo transactions are also another incompatibility. Sometimes Chivo-using merchants will present these when you wanted to pay with a Bitcoin wallet, because they're used to the customer using Chivo as well. Your Bitcoin wallets will not be able to recognize them, as they're essentially just internal usernames that only the Chivo app recognizes, not any kind of Bitcoin payment method. So you should look out for that as well and ask them present a lightning code from their Chivo app. Though also be aware that Chivo is pretty bad and regularly loses money. Like sometimes it does not credit the merchant's account properly (even with on-chain transactions that confirmed). From the OP: >... it should be the vendor who handles the pricing of their goods I think the main issue here is that the poorer merchants don't always have any kind of point of sale system to be able to type in the amount owed for the transaction and display the invoice for you on their own screen. It would be more ideal to just scan and hit pay, but not always possible if it is prohibitively expensive for them. Even if they do have a personal phone, perhaps they don't want to hold their hand out for you to scan a QR code on it, as that runs the risk of someone grabbing it out of their hand and running off with it. But the more capital-intensive stores like the [point break cafe](https://twitter.com/gladstein/status/1433547324991623169) are able to do that, from what I have seen.
I'm usually good at calling a pump. BOLT should spike any minute up to .072 or better
On Kucoin that shitcoin BOLT is all over the place. I bought some just to roll the dice.
Lightning Network is based on an "invoice" model, there is "no addresses" per se...if you want to receive payment you need to generate a one-time invoice and present to the payer. Obviously this doesn't work well in a static printed situation. There are 3 current semi-competing solutions to this: BOLT11, LNURL, and LightningAddress. Each more or less does something similar in that they allow for you to distribute just a "tag" (QRCode in case LNURL / BOLT11 and name@somedomain.tld in case of LightningAddress). These "tags" then allow the wallet to request an invoice on the fly and then you to receive that payment. Out of the 3 I think LNURL currently has the widest support among wallets. So you would host your own BTC/LN server (Umbrel would be fine choice) that has LNBITS running on it (lnbits is a swiss-army knife of LN related tools written by the same guy who came up with LNURL concept). Then you could just distribute a static QRCode on your book and anyone with a compatible wallet could scan and send you a donation.
Now that you understand Bitcoin... If you are more a technologist than an economist, maybe the next thing to read should be about the *Lightning Network Protocol* The source documents are called **BOLT**s **B**asis **O**f **L**ightning **T**echnology, found here: https://github.com/lightning/bolts/blob/master/00-introduction.md There's also an open source book about Lightning by Andreas Antonopolous, Roasbeef, and Rene Pickhartd which is on github and due out in bookstores any day now... If you are more of an economist, then I recommend, **Stuff and Money in the Time of the French Revolution", by Rebecca L. Spang. An insightful alternative perspective on the monetary motivators driving the French revolution, and some hilarious descriptions of what happens when money can't be made fast enough or cannot be divide small enough, etc.
iirc BOLT-12 Offers have periodic payments: http://bolt12.org/
The standard to add LN address is called BOLT12. Its not yet implemented by most wallets. Your option is to get tippin.me account. And use that on twitter. Or get a zebedee wallet, it has support for lightning address. Both are custodial solutions.
Its in development, some are using it. Here is one: https://twitter.com/jb55/status/1433128339099639809?s=19 Its the BOLT 12 specification with one payment url. There is *another* where you can host your node on a domain name, and get payment to a domain name based address.
Checkout BOLT 10 that should answer your questions: https://github.com/lightningnetwork/lightning-rfc/blob/master/10-dns-bootstrap.md
Oh! It actually absolutely does. Look up LNauth and BOLT12 (offers). Passwords and logins are going to go away over time.
tldr; Lightning Network Offers, a draft specification that aims to replace BOLT11 invoices, looks like a promising primitive for recurring payments, convenient proofs, and paves the way for a clean user experience. Cloudflare shares a novel way of using zero knowledge to attest hardware without revealing the metadata details of devices. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Don't forget it's okay to gamble a little bit. My lowcap coins are driving my portfolio this week, even in a sea of green. MTV and BOLT, ftw.
BOLT ran for 119 seconds to win 8 gold medals, earning $120 million. But for those 2 minutes he trained for 20 years, apply this same investment to your crypto and you will reap the rewards long term.
Ironically, Phoenix is the one that's violating the Lightning BOLT specifications by setting the channel reserve to zero. They're effectively saying, "We don't care if you try to cheat us." They can do that because they charge for every channel they open, so their own capital is never being spent if/whenever someone tries to cheat them. To be clear, I like Phoenix quite a lot and do recommend it to most newbies. You do pay for that convenience, though.
You need to read about Bolt12: lightning offers. https://bolt12.org/. These are the next generation of invoices. Here is a show where the inventor talks about it. https://anchor.fm/stephan-livera/episodes/SLP298-Rusty-Russell---Lightning-Offers--BOLT12-The-next-big-thing-in-Lightning-e15loi4
> Are transactions between lightning channels dependent on any particular app? No. All lightning network apps are created to a specification (BOLT) and there are multiple implementations of that specification.
I run one of the largest nodes in the network. It's true that there are significant expenses due to chain fees, which often outstrip the modest revenue from routing fees. The network *is* improving, though, especially as some of the less rigorously coded node implementations (\*cough\*LND) incrementally work toward implementing the actual BOLT specs as written. I am seeing far fewer force-closures nowadays versus a year ago despite having many more channels. My node has been up for over two years but has earned more than a sixth of its entire fee revenue in just the last month. In short, it's looking up! Now, that said, would I recommend that the average person try to run a routing node? No, absolutely not. If you wouldn't think about mining, you shouldn't think about routing either.
The [invoice (BOLT-11) protocol](https://github.com/lightningnetwork/lightning-rfc/blob/master/11-payment-encoding.md) has a field to specify a fallback onchain address in case the lightning payment fails but I have not seen it used often in the wild.
The fastest one will be the Usain's BOLT Coin.
I'm gonna make a new token just for this: Usain (BOLT)
I think you're describing offers (BOLT12). The spec is still in progress, but it creates a QR code that negotiates with the receiving node over the LN, then the receiving node can specify details for a one-time or recurring payment. Alternatively, sphinx and other apps already stream payment for podcast streaming or other services.