Bitcoin Lightning Network Explained: How it Actually Works

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Информация о Bitcoin Lightning Network Explained: How it Actually Works

Название	:	Bitcoin Lightning Network Explained: How it Actually Works
Продолжительность	:	21.17
Дата публикации	:
Просмотров	:	76 rb

Swami Vivekananda - Cyclonic Monk - Quotes

Drink for 10K sats ? Someone watching this in year 2088 will get mental stroke as even sats would be expensive let alone Bitcoin
Comment from : Swami Vivekananda - Cyclonic Monk - Quotes

Hey, I requested my platform to pay my profits through direct deposit to bank Do I still need crypto lightning network? Pls advise
Comment from : GRACE GAUR

The problem LN will never solve is the cost of opening & closing channels
Comment from : Dark Galaxy

How, before the initial funding transaction, I can reference this very same transaction without having it submitted?
Comment from : Ric Hard

If you need two signatures to spend the money, and the other party refuses to sign, how do you get the money out? brThat second party can always stop you from utilising the money?
Comment from : Harry

Hard to understand
Comment from : Harry

This tech is so smart and your vid is great
Comment from : Wayne Lau

LBTC is a future hidden GEM🎉
Comment from : TopTube

Alice might have a drinking problem!
Comment from : ivecadit

Seriously how did you learn all this?
Comment from : Scott Horn

how is the payment channel's security backed by the main chain? miners are on the main chain right
Comment from : Wubbywub

A quick question: when transactions are recorded in the Lightning network (Alice pays bob $5) does bob actually receive $5 in his wallet or it is just credited to his wallet in the smart contract and when they close the payment channel the $5 is sent to his wallet?
Comment from : Nicholas Parwar

One question, alice transmits a correct transaction Now bob want to cheat, what keeps him from revoking the correct transaction and claim the output ?
Comment from : MysticEntity

0:44 It cost you more in transaction fee than the transaction you actually sent Hmm Bad example of lightning being affordable
Comment from : John Mungia

Lightning is a game-changer
Comment from : RemittDAO

Buy Bitcoin!
Comment from : Alexander Sama

This is too confusing for most people when you can just whip out your credit card and pay for things Additionally even though credit cards charge interest, at least if you're overcharged or have a problem you can call them and get it taken care of What if you wake up the next day and realized that when you were drunk the bartender overcharged you? Now what do you do? At least with a centralized platform like credit cards you have options
Comment from : Scott Allen

, I want to ask a question? Does this system need updates or improvements I see many people say it's perfect?
Comment from : Ag1 Agroo

Thank you for this! It's excellent
Comment from : Troublesome Creek

Hi Can I translate your vídeo tô portuguese (pt-br)?
Comment from : Bombus BeeTC

Bitcoin isn't a currency, its digital property & digital energy
Comment from : Gus Galvanini-Boldrini

The Outputs are swapped at 13:00 The right commitment tx should pay Alice 70k (Output 2) and Bob 30k (Output 1)
Comment from : M B

Can't send on your LN address
Comment from : Sambhav Jain

Lightning seems expensive and complicated
Comment from : L Bell

How to broadcast to layer 1 chain?
Comment from : Sabertooth Wallby

how can you efficiently find a path in multichannel scenario?
Comment from : Kim

This is the best video on Lightning Network out there It breaks down the whole complexities and explains them in a beautifully simple way Newbies will have to watch it more than once
Comment from : Numbers Guy

good video
Comment from : Yanes, Jose

Yoo man thank You for sharing this video You deserve so many more subs Real quality content here!
Comment from : MrSnickysnicky

yeah umm, this aint gonna work how you explained it people want to swipe a card , not learn their money best case store of value Sorry, lightning wont work for day to day single transactions I realize that this is how money works in the digital world, but, it aint gonna functionally work in the real world Sorry, it just wont
Comment from : Bigcricket

wonderful, absolutely wonderful explanation of how it works
Comment from : Raymond Romero

Oh My God! Just use a different blockchain that can actually be used for micropayments! Ever heard of Doge or Solana? Polkadot or Cardano? Bitcoin and Ethereum are not the only Cryptos in this world
Comment from : Next Leader

OK But why not just use a more functional, 1 layer protocol like XRP brFaster, more secure, and with none of the problems that this entire video is based on
Comment from : Trever Swelland

How comical is it that you think you need a 20 minute video to explain how the lightning network works? Seriously? Can you imagine if you needed a 20 minute tutorial on how to use a credit card? The lightning network is the dumbest fucking thing I have ever seen
Comment from : ChainTight Security Systems

You’re so good and this amazing work you do will always put you ahead of others thank you for not disappointing me
Comment from : hackiprince411 gmail com

so does every customer visiting my e-shop for small transaction needs to open a channel with me and every store and start by transaction fund? is this applicable to the real world, what other options?
Comment from : Ahmed Mohammed

you're the best thanks
Comment from : Ahmed Mohammed

This video is amazing! Perfect depth to get an intuitive understanding!brWould be great to hear a bit more about the practical implications of needing to be online, monitoring the blockchain and how routing the transaction works (finding good paths/nodes)
Comment from : Tigran

Great video! Regarding the transaction size What amount is ok to send via lightning and when should I consider to pay via on-chain? In terms of safety, fees etc Is it like $100 or $1000? Am I even able to send sums like $1000 via lightning these days? Thanks a lot
Comment from : Jakub Souček

Probably the best channel for btc technical explanations Thank you for your work! :D
Comment from : Michael C

Thank you very much, this was the exact explanation I was looking for
Comment from : dcadf dfbdf

this is the future
Comment from : shawtyrelax

Wow, what a quality material Thank you thank you thank you
Comment from : Mattia Pennacchietti

Thanks, this explanation was very helpful
Comment from : Juan A Tirado Ríos

This is amazing Thanks
Comment from : Vipul Vaibhaw

Thanks really good explanation I suppose the only downside is to get your funds into a Lightning Network wallet you will need to pay a CEX on the base level to do the transfer On the positive side once it is there it's possible to pay small amounts with very little fees
Comment from : Craig Sneeden

You explained to me bitcoin in 2013 and now the best explanation of LN is from you also! Would love if you could explain to us ''channel factories'' and ''multiparty channels''
Comment from : Francois Demers-Telmosse

The regulators are going to have a field day with thisAfter using Algorand, this doesn't even come close to the functionality Algo has All these extra steps just to make a simple transaction cheaper for general use is kind of ridiculous and if "Bob" isn't reporting transactions this could definitely bite someone in the ass come tax season, unless I'm missing something herebut I guess it briefs well lol
Comment from : MathMaTiX

great video, thanks for the perfect explanation and real world examples
Comment from : gem1312

Too much jargon Stop using any form of technical terminology Ur mixing high level technical terminology with stupid condescending examples using "Bob and Alice" When are the fees incurred? What is a funding transaction? How would a regular 100 IQ person interact with and set such a thing up to begin with? with A phone? What app? How much will that cost ?tell them what the green will say What will they see ? Are the things you are referring to in the computer logic all happening without my input? Does the contract run and update itself without me remembering anything? What is my responsibility when using the network, what do I need to write down? if anything? I hope u understand what I am saying Like don't say "decentralization" say " without the influence of a government or bank" That's what it means to the average person Talk like a regular person or you will always be a shit teacher I understand you but regular people definitely don't and that's why ur video has 15k views
Comment from : Spyware

Bitcoin sucks
Comment from : yogiyoda

The problem is, if you buy any amount of bitcoin, you have to let the IRS know you bought bitcoin, on your tax return So there are tax ramifications Right?
Comment from : Jack Kitchen

the most clear technical explanation I have found on bitcoin and its lightning network Layer 2 used to be just a buzzword for me but not any more thanks to you!
Comment from : Teamed

A Gentlemen of Crypto reference Nice!!!
Comment from : jaron pirtle

Although this explains well the "bar tab" and more complex use cases, I still don't understand the most attractive feature of the Lightning Network how is this faster than a straight forward transaction between Alice and Bob without using Lightning? It looks like a simple, single transaction between Alice pays X to Bob would take the same time using Lightning, since at the end of such transaction, it must be recorded on the blockchain just like a normal transaction Does Lightning only improves speeds on the bar tab or other complex examples, but not in a straight forward simple A pays X to B transaction?
Comment from : Heitor B

The bar tab analogy is interesting, though I'm not sure I understand how it reduces the ultimate cost for individual transactions If you would've spent $10 in a normal Bitcoin transaction, but only a few cents with lightning, who/what makes up for that $9 difference when the transactions are eventually broadcast on the Bitcoin network? The bartender? If so, what would incentivize the bartender to incur that cost on the customer's behalf?
Comment from : Kentama

Beautiful!
Comment from : Omkar Pangarkar

nice but can you suggest me another crypto to start investing? I mean with a little low price but great potential?
Comment from : Ismael Simon

I love this, I cover some Bitcoin & Lightning topic too in my channel - if you're curious Keep up the good work
Comment from : Hassan & Investing

Question: When buying beers on the same payment channel, does each transaction create another multisig? brBecause when a revocation secret is created, it built around the previous transaction meaning a new multisig would have to be used given that the inputs this time are different
Comment from : Pradyumna Rahul K

Great video But there's one thing I don't understand, since your node always has to be online monitoring for fraud, how are non-custodial mobile wallets like Phoenix supposed to work?brSince it's very likely that you sometimes won't use the app for more than 24 hours or even weeks, isn't the risk of your peer broadcasting an old state transaction quite high?
Comment from : Trey Waka

We are still early, here before Million views
Comment from : Lori9

Why not use a simple solution as only possible to broadcast the latest balance?
Comment from : Mathijs

would i be able to reupload this video with attribution of your channel to youtubecom/c/BITC0IN ? edit: gonna ask forgiveness on this one ill take it down if you desire
Comment from : BITCOIN

Who calculate the cheapest path between two peer ?
Comment from : Jules L

Wow! Thank you so much!!!
Comment from : Dom Kaz

Super good, thanks for the awesome work
Comment from : Pablo M

Like your video "How Bitcoin works under the hood", this one will be the one I will share to people searching for a clear explanation :) thanks a lot !
Comment from : Theo Pantamis

Wonderful video! My only criticism is that in the beginning you used a chart of average transaction fees, which is very misleading (and usually only used by shitcoiners) Median transaction fees are a much better measure of fees :)
Comment from : Felix Schulze

Thank you for the best instructional Lightning Network video available presently … immensely helpful
Comment from : FisheyJay

The wallet in 130 is Breez, not Muun
Comment from : Roy Sheinfeld

Congratulations to this great work and thanks for sharing! I always wanted to create something similar but decided to get the messaging clearer and simpler by finishing our book that you mentioned Now I don't have to do this Great indirect collaboration! That's an amazing feeling! (though I am a tiny bit envious) btw sorry for never having reviewed the long version Had the tab open ever since but was too busy with the path finding stuff
Comment from : René Pickhardt