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RE: Congratulations! You are about to survive the longest bear market in Bitcoin's history!
The Bitcoin lightning network works, I have used it and anyone can. But its not widely adopted because of the bear market. The exchanges and many websites are not accepting the lightning network since it involves a significant upgrade that needs a lot of effort with little rewards. The rewards of the upgrade are small because the transaction fees have dropped significantly because of the bear market. I think the lightning network will be widely adopted when its needed and that's when the network has heavy traffic and high fees. So you can consider the scalability issue solved.
Btw, you can even run your own lightning node for like $300. Easy peasy. But you can't profit off it because there is not much traffic on Bitcoin lightning network.
@waleedtee, have you used the Wallet of Satoshi for the LN?
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No, but it looks like a great initiative ! I've been using "Electrum wallet" for LN
Ah ok. I will have a look at it. I used to use the Electrum wallet.
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Electrum is good as a main wallet on a laptop/desktop for big transactions. It is more secure because you can set up a multi-signature wallet which works like two-fator authentication (you get a code on your phone + password ). Also, on Electrum you get to choose the transaction fee/speed as you like. If I am not in a hurry, I choose the lowest transaction fee even if it will take hours to complete. This is why its good for big transactions as the fee becomes significant for big amounts.
Thank you so much for the detailed information! Do you have Discord?
you're welcome :)
I've sent you a friend request.
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