April 15, 2019

Adventures in the Lightning Network

One of my favorite Andreas Antonopoulos videos is where he introduces the Lightning Network and the concept of streaming money’ in his highly inspiring way. He tries to make sure everyone understands the general concept around the Lightning Network but he also wanted to wax poetic about the potential usecases of such a network.

Streaming money turned into an inspiration for me to look into the Lightning Network more in depth. Being paid monthly has always been a stress in my life and the concept of getting constant ongoing payment instead of waiting until the end of the month holds a lot of value for me.

It took a long time for me to finally be able to dig in on this vision. It was in early 2018 that the Lightning Network began to explode on Bitcoin. It probably wasn’t until October until I was able to spin up my own LND node in order to experiment myself. This started with a BTCPay server node hosted on a VPS that only charges around ~$17 per month for both a Bitcoin node and a LND node.

This began my adventure in playing with the Lightning Network. Right around the same time, many of the mobile LN wallets out there began to get even better. The Bitcoin Lightning Wallet was one of the first wallets to allow receiving on mobile. (Since then Eclair wallet has also added this functionality.) In Dececmber, I received my Casa node and began exploring even more. Eventually understanding the relationship of routing, fees, and generally how the UX is for possible n00bs in the system.

Currently the wallets that I am using:

Some planned writings relating to the Lightning Network:

  • Reviews of the wallets stated above.
  • Exploration of how a newbie might be able to get onboarded onto LN.
  • Exploring the idea of channel selection’ similar to the idea of coin selection’ in Bitcoin wallets like Samourai wallet.
  • Doing a deeper dive on streaming money’ and how it might be possible within less than 12 months.

bitcoin crypto writing Lightning Network

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