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| July 23, 2018

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McDonald’s Offering Free Fries Every Friday

July 19, 2018 |

National French Fry Day fell on a Friday the 13th this year, but McDonald’s is going to make it happen on a lot of other Fridays. The chain says it will give away free french fries every Friday for the rest of 2018 to customers who download their app and…
Newser

CNN

Human remains found almost every day in search linked to Toronto serial killer suspect

July 18, 2018 |

Toronto police found additional human remains almost every day after resuming a search of a property linked to suspected serial killer Bruce McArthur, according to police.
CNN.com – RSS Channel – Regions – Americas

NBA star Kanter gets ‘three or four death threats every week’

July 12, 2018 |

He just opted in to his final year of a $ 18.6 million contract to stay with the New York Knicks for the 2018-19 season, lives the high-life as a NBA star – but life is far from plum for 26-year-old Enes Kanter who has been cauterized a “terrorist” in his native Turkey.
FOX News

Looking Beyond the Lightning Network Hype: Every Day Users Experience Issues

June 25, 2018 |

Looking Beyond the Lightning Network Hype: Every Day Users Experience Issues

Over the past few months, there’s been a lot of headlines and new wallets created for the notorious Lightning Network — The second layer payment protocol that’s being touted as a solution to the BTC chain’s scaling issues. The project is in its very early stages as the technology is still in beta, but people are actually using the protocol on main-net with real funds. So far this technology still seems very far away, and some people looking beyond the hype are finding individuals and groups who are testing this second layer are running into problems.

Also read: Bitcoin and Mnemonics: The Art of the Secret Phrase 

Lightning Network Tipping Turns Out to be Not So Easy

For a while now in the cryptocurrency space people have been hearing about the Lightning Network (LN), new LN wallets, and areas on the internet that allow users to test the technology using both Bitcoin Core’s (BTC) testnet and mainnet. A percentage of individuals and cryptocurrency users have been using the second layer protocol on the main BTC network as there are 2,307 LN nodes today, and 5,036 open channels. According to statistics, the Lighting Network shows over $ 142,000 USD worth of BTC locked in channels or being used on the network right now. There has been a lot of noise about using LN and posts can be seen on social media channels and forums almost every day with people demonstrating the LN protocol. However, even though there seems to be a lot of action on the pixelated graphics website ‘Satoshi’s Place’ people are experiencing lots of issues with this protocol and there are many LN problems without solutions.

Looking Beyond the Lightning Network Hype: Every Day Users Experience Issues
Lightning Network June 25, 2018.

For instance on a Reddit post stemming from the subreddit r/bitcoin called “Lightning Network Submarine Swaps,” shows an interesting interaction between two LN users. One user named ‘Windsok’ wants to tip another Reddit user with five bucks worth of BTC, and he asks the recipient to create an LN node and send him an invoice for $ 5 worth of BTC.

“Oh goody, a tip! You made me finally download and install a lightning node,” explains the hopeful recipient. “Now I’ve got it up and running and some funds in a channel for the first time — but, alas, I can only receive $ 5 via that channel once I’ve spent $ 5.”

The Common Answer to LN’s Problems: Custodial Services, Watchtowers, and Centralized Hubs

The problems get worse for the two as the invoice expires for the user trying to receive the money. Then he creates an invoice with a longer expiry which also has issues. But one problem observers took issue with was the fact that a new user must use some of the BTC on the LN network, before being able to receive funds. Further, the person trying to receive the BTC explains he never got the tip and users may have to utilize a custodial service to benefit from LN.  

“I never got the tip because his node couldn’t find a route to mine,” explains the user.  

Partly this is likely due to my node being often offline, as it is on my laptop. For tips and receiving small amounts I think laptop users like myself will need to use custodial wallets once they are available, and withdraw from them to a self-hosted node whenever we have an opportunity.

Looking Beyond the Lightning Network Hype: Every Day Users Experience Issues
An interesting post on trying to receive an LN tip.

Sorry This Channel Has Closed, Try Again Another Time

This isn’t the only time people are seen on the internet complaining about the LN protocol not working correctly. With a quick Google search, anyone can find lengthy studies about LN’s topology concerns, discussions about centralized hubs, watchtowers, and routing problems. For instance, downloading an LN node is a long process and for the non-technical people in the world, it is difficult and a hassle. Alternatively, using light client wallets like Eclair and others also have connection issues, and people are always losing access to their channels that are constantly opening and closing.

Looking Beyond the Lightning Network Hype: Every Day Users Experience Issues
Eclair wallet.

LN users using the ‘lnd’ client will find issues with Satoshi’s Place (SP) because SP uses ‘c-lightning’ and there are issues with incompatible fees. LN Nodes have difficulties finding routes so then some people recommend connecting to more centralized nodes like Yalls or Acinq’s nodes in order to find a route. And even with these methods channels close often, usually after 10-15 minutes and sometimes immediately.

Looking Beyond the Lightning Network Hype: Every Day Users Experience Issues

The problems and bugs revolving around LN most definitely begs the question — Will the Lightning Network provide a solution to network congestion if it happens again? When will LN help with the rising network fees? Some skeptics believe even from the current vantage point that this second layer protocol is way more than “18 months away,” and even further than that when it comes to non-technical users otherwise known as mainstream adoption. Even worse is the theoretical chance that LN could lead to significant centralization, and KYC/AML regulations because major hubs in this hub & spoke environment could end up being the very banks we tried to avoid.   


Images via Pixabay, reksplorer, Eclair wallet, and Reddit.


erify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Looking Beyond the Lightning Network Hype: Every Day Users Experience Issues appeared first on Bitcoin News.

Bitcoin News

Woman Has Now Seen Every State Upside Down

May 29, 2018 |

A 71-year-old woman has completed her mission of performing a headstand in all 50 states, reports the AP . The Ketchikan Daily News reports retiree Anne Bruinooge checked the last state off her list Thursday as she laid down a mat and did a headstand outside of the Alaska newspaper’s office….
Newser

Ban Proposed on Plastics You Use Every Day

May 28, 2018 |

The European Union has proposed banning plastic products like cotton buds, straws, stirs and balloon sticks when alternatives are easily available in an attempt to reduce litter spoiling beaches and ocean beds, per the AP . The European Commission said its proposal would seek to cut marine litter in half for…
Newser

Southwest Airlines is giving $5,000 to every passenger on plane that had an engine explode

April 22, 2018 |

Southwest Airlines Co. is providing $ 5,000 checks and $ 1,000 travel vouchers to passengers who were on a flight this week when an engine broke apart, killing a woman on board.

“We value you as our customer and hope you will allow us another opportunity to restore your confidence in Southwest,”…


L.A. Times – Business

Beloved Vermont Farm Burns, Leaving Every Animal Dead

April 2, 2018 |

A beloved Vermont dairy farm burned to the ground Sunday night, killing nearly two dozen cows and their calves. The Wallace farm in Waterbury was run by 71-year-old Rosina Wallace. Per USA Today , Wallace was a fourth generation dairy farmer at the property, which was purchased by her great-grandparents in…
Newser

Every Active Lawyer in Utah Was Emailed Photo of Breasts

March 6, 2018 |

As far as emails go, it seemed typical enough. Sent out shortly after 3pm Monday, it was promoting the Utah State Bar’s 2018 Spring Convention in St. George on behalf of the Bar. One attached image was a photo related to the convention; the other was of a woman’s breasts….
Newser

Every iPhone Now Unlockable by the Feds, Report Says

February 27, 2018 |

The federal government is likely now able to unlock any model of iPhone. A report in Forbes says a contractor known as a go-to for when U.S. officials want a suspect’s device unlocked has discovered a way around Apple’s security features. The contractor is an Israeli firm called Cellebrite,…
Newser