A plug and play LN node
I sure many of you want to run your own LN node right?
But setting it up is super hard. Never fear Lit box is here.
It basically a plug and play Pruned Bitcoin node running LN.
The box connects to your router and stays online.
You don't need to worry about space the lit box auto prunes for you.
Plus it is auto connected to Tor so your payments are more anonymous.
You connect to the node by desktop apps and maybe mobile apps in the future.
Here the announcement: https://www.reddit.com/r/Bitcoin/comments/85j8cf/lit_box_is_coming_to_support_you_using_bitcoin/?st=jeyoqado&sh=7a231c2a
This is exciting news now that LN is in beta now services can now be built on it.
This Lit Box will allow everyone to become their own mini banks what crypto was made to be.
Plus you might earn some bitcoin by routing payments for others.
It is also exciting to know that eventually it will facilitate a decentralized exchange through atomic swaps as long the coin uses segwit it can be done. Lit box will basically be how you trade your cryptos now :)
Say a crypto does not use segwit never fear it just be a little rough.
The other way say Steem to be traded in atomic swap is creating a pegged sidechain that pegs steem to a chain mined and controlled by steem witness. This side chains has activated sidechains. The peg allow you to redeem Steem backed tokens for steem.
What i mentioned above is the decentralized and safest way. Sidechains can operate indepedndelty without the main chain notice but it will require someone managing the funds.
I am so excited for LN.
Lit box beta is coming Q2 2018 :)
How much does the LITbox cost? The retail price will be determined by the marginal cost of production (target price of ~$30.)
Want to learn about LN?
This is a really good video explation: https://steemit.com/bitcoin/@ddangerwu/understanding-lightning-in-simple-terms-and-what-it-means-for-you-get-100sp-delegated-to-you
"Mine"= https://steemit.com/bitcoin/@sames/bitcoin-s-lightning-network-simply-explained
99 bitcoin explanation: https://99bitcoins.com/what-is-the-bitcoin-lightning-network-a-beginners-explanation/
https://steemit.com/bitcoin/@sames/offchain-privacy-how-bitcoin-plans-on-adding-privacy-fungibility
https://steemit.com/bitcoin/@sames/how-the-banks-did-not-buy-bitcoin
Making a small correction comment the LN has it own Tor that on by default
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Interesting - can't wait to try this. I have not played with LN because it still sounds too difficult. So this is a solution that'll work well for me and others who would not make the effort.
That is why it was made :)
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I'm amazed it's so cheap.. Interesting!
I know i going to preoder it :)