God bless Peter Chiff.. lmao... these dudes just pushing their own investments... You won't hear Ferrari tell customers to buy Corvette lol.... common sense stuff... what else is Saylor supposed to say? Lol
Thank you for your sales pitch, David! 🙂 Luckily I am not one of your target audience. Although I would find it really nice if I could buy and transfer my Bitcoin at and from a CEX for much less and much faster than today. That would be helpful to make it easier and cheaper for me to move it as fast as possible into my self-custody wallet. So thank you for that!
This is cool but how will a bitcoin owner benefit from this???? Also if bitcoin went way down or way up in price would it affect how this product works??? I would love an answer. Thanks for any explanation offered.
I don't see an extreme amount of friction when I think about other coins and tokens which could be used in conjunction with BTC for deep liquidity. If MSTR is to provide Defi it will need rails so understand why this is of interest but there are better technologies than Lightning that are in need of BTC's deep open liquidity.
Like i’ve said this for years, Most of if not all current tokens, altcoins, stablecoins, defi’s, crypto exchanges are all shitcoins & trash. BITCOIN ONLY HODL!!! Thank me later!!!
@@gainknowledgeandinsight Rather than listen to either party - could recommend just work it out by oneself. Lightspark is 3rd party custodial - same as Cash App, or Strike. You literally give your keys to them. And trust them when they promise to look after your money for you. This is diametrically opposed to crypto, to LN, to Bitcoin. Indeed - have you ever had a Bitcoiner say : “ NYK - NYC “ ? This is the opposite. Polar opposite. You give your keys away to these 3rd parties.
@@gainknowledgeandinsight. This is 3rd party custodial. You literally give your keys to Lightspark. Same as Cash App, or Strike. It’s the polar opposite of Bitcoin, crypto, & self-sovereignty.
@@VancouverCrypt0 Right. And then we can all agree that Lightspark is 3rd party custodial. Same as Cash App, or Strike, or Wallet of Satoshi. You literally give your keys to them. And hope they take care of your money for you.
The catch is it's the lightning Network and it's not the Bitcoin Network it doesn't have the security of the Bitcoin Network it's completely centralized
lightning network is not centralised. its a fast transaction network that doesn't have as high levels of security. think of it as like pooling a large number of bitcoin transactions but not on the bitcoin network. they can then be settled later so lowering the fees and increasing the speed. the catch is you don't have the same security but for small transactions, do you care?
DIY self custody lightning exists, what they are describing is a KYC/AML validated version of lightning. Also if you followed the bitcoin community you'd know that maxis never agree on anything, many are certainly not cool with this.
Well be your own vault is a better analogy and the more important one. I don't think people care about how their coffee purchase is handled. it's not that important
Indeed, besides Bitcoin, Kaspa is the only other fair/pure fixed-supply crypto asset & Layer 1 Proof-of-Work with 100% fair launched & mined supply, The BlockDAG protocol is monumental innovation, The longer people take to realize that, the more I can own for myself, just wish I found it sooner than July ‘23, but from my understanding I’d say prices are still very advantageous within this cycle, let alone long-term. - I also think it’s likely some people are keeping quiet about Kaspa for now to keep it under wraps, which is fine by me 😎
This is so cypherpunk... NOT! Saylor is a simp for KYC, AML, corporations and government. Lightning for businesses is boring and pointless. Sending fiat currency around is boring. We need fungibility, privacy and we need it for the little guy.
Oh yeah…. Let’s use a centralized company over a decentralized protocol….. makes complete sense or better yet why don’t we just use a centralized stable coin…
This is actually rather disgusting how misleading this is. These transactions are not recorded on the Bitcoin base layer The value of the exchange does not exist on the Bitcoin base layer. The lightning network does not have the security of the Bitcoin Base layer. Lightning nodes are drastically less secure than Bitcoin nodes. These are the facts. Basically all layer two Solutions suck as they all suffer from these drawbacks. The best solution is to allow more transactions in a single block. This is the reality which is being hidden from us all.
So true. “Tx not recorded”. In fact they’re not even recorded on Lightning. There’s no such thing. These are just IOU’s floating around on some company’s Excel spreadsheet. The user gives their keys to Lightspark, or Cash App, or Strike - then cross your fingers and hope that they give it back to you someday. “LN does not have the security”. In fact, there is no security at all. There is no blockchain, no Dag, nothing. You hope & pray that : 1. They entered your trade in their spreadsheet, & 2. They are in the mood to give your money back someday.
"These transactions are not recorded on the Bitcoin base layer", who cares? how would that every scale to 8 billion people? Why would you want to archive forever a transaction of someone buying a pack of gum. If you don't like it don't use it enjoy your big block solution that will go nowhere and never be actually used.
@@stevemason3333 “Who cares ?” ‘Ok, so that’s it then. Experiment is over. It failed. We all throw in the towel. We can’t have decentralized money.’ So if you are happy to use a completely centralized 3rd party custodian for your money - Then why would anyone use Lightspark? Why not just stay with your bank ? Say you need to input EUR, and deliver USD to someone, why not just use a Fintech - Revolut, or ETransfer, N26, etc. ? What’s the difference?
@@stevemason3333 I care. I care a lot about it being decentralized and permission less. The moment you sign up for 3rd party custodial, KYC you lose your permissionless. That is the very core of Bitcoin. It saddens me that lightning is treated so seriously.
Does lightning work with swift and visa and Mastercard and many other financial institutions around the world? Ripple does that already..hard to listen to these clowns
The AMU naming convention seems a good idea until you pick a name and you’ve got a crappy company on the end of it. Why can’t we just have NAME.btc or NAME.bitcoin like ENS names with NAME.eth
It was quite fascinating at 39 minutes in when Michael brought up the subject of security and his question was completely ignored and responded to with an answer that had nothing to do with the question and Michael just ignored the fact that his question was ignored.
I didn't see him ignore any question at 39 minutes. I heard a question about reliability, but not security. His answer was to try the lightning network with your coin base account to see for yourself how reliable it is rather than tell you about it reliability.
@@airjunkieadam The non answer was at 39 minutes in ... the question itself was at ~ 37 in where he flat out admitted that the LN is a completely separate chain 100% outside of BC and thus does NOT have any of its inherent security attributes ... L2's DO NOT give you ANY of the trilemma characteristics of the base chain L1. Anyone who disagrees is brainwashed or ignorant of the facts
Not really because wise and revolut can't interface with each other, and it takes a lot of effort for them to work with others. David's company automatically works with all current and future lightning wallets and companies.
@@SAL-fs1mr Ooh if Wise and Revolut do not use a block chain than that is by definition true. Trust me I know, I created interfaces in IT for more than 15 years in the past. So I assumed Wise and Revolut use a block chain.
The difference is its a more open platform, you and the person you are sending to don't need to be using the same company, just one that is UMA compliant.
Forget reading comments. Too many scammers
I dont understand why UA-cam is still waiting to fix this
You might be a scammer....so how can I trust what you say?
Too true.
too many scammers in the comment section!
Michael Saylor is REALLY inspiring!!
And the business idea of David is great!! I hope it works for small companies as well
God bless Micky Saylor!
God bless Peter Chiff.. lmao... these dudes just pushing their own investments... You won't hear Ferrari tell customers to buy Corvette lol.... common sense stuff... what else is Saylor supposed to say? Lol
Don’t hate, participate!
Very good view about Lighting Network and the created system by Marcus. Thanks a lot, many things already learned ❤️🙏
Lightning is not Bitcoin.
Lightning does not have the security of Bitcoin.
Agree. Better off on Bitcoin Cash
@@mikea2606bitocin cash can not handle the amount of transactions that lighting can
Super epic convo!!!
Thank you for your sales pitch, David! 🙂 Luckily I am not one of your target audience. Although I would find it really nice if I could buy and transfer my Bitcoin at and from a CEX for much less and much faster than today. That would be helpful to make it easier and cheaper for me to move it as fast as possible into my self-custody wallet. So thank you for that!
Let's look back here a decade later. Let's say May 2034. May BTC serves humanity in a better way. Bless all! 🙏📿
#Gold & #Bitcoin to the 🌕 baby we all out. Saylor just has favorites.
Lightning transactions do not actually move Bitcoins on the Bitcoin blockchain these are the facts
Why build a layer 2 on BTC network? Can process payments via Bitcoin Cash (BCH).
This is cool but how will a bitcoin owner benefit from this???? Also if bitcoin went way down or way up in price would it affect how this product works??? I would love an answer. Thanks for any explanation offered.
Are they talking about Strike ? 😄
I don't see an extreme amount of friction when I think about other coins and tokens which could be used in conjunction with BTC for deep liquidity. If MSTR is to provide Defi it will need rails so understand why this is of interest but there are better technologies than Lightning that are in need of BTC's deep open liquidity.
Btc needs to not be taxable.
Like i’ve said this for years, Most of if not all current tokens, altcoins, stablecoins, defi’s, crypto exchanges are all shitcoins & trash. BITCOIN ONLY HODL!!! Thank me later!!!
♾/21M
BIS bank of japan are almost all converting there banks to run on the xrp ledger !! Its a fact .. i mean come on BTC.... COME ON
@Danny
Dude put down the Brad Cool-Aid, your 'arny' lost the war!
"Who is sending a Fax" Answer: The Germans
This is how the new world order should look and feel like. Money secured for the people by the people.
LN-LTC will have more self-sovereign Lightning Network users then LN-BTC.
Most LN-BTC users will be using corporate controlled BTC.
You mean Lightning with Litecoin? Lnd will remove Litecoin support with version 0.18.0
@@steff1238 It's open-sourced and someone can easily port it to Litecoin.
Let's be honest lightning is a joke, not even 5k BTC on it. Why even bother talking about it
Let’s me understand this - listen to you or listen to Michael and David. Dude, you’re out to lunch.
@@gainknowledgeandinsight take a look at the network stats yourself. Who exactly has adopted lightning in the last 6 years?
@@gainknowledgeandinsight Rather than listen to either party - could recommend just work it out by oneself.
Lightspark is 3rd party custodial - same as Cash App, or Strike.
You literally give your keys to them. And trust them when they promise to look after your money for you.
This is diametrically opposed to crypto, to LN, to Bitcoin.
Indeed - have you ever had a Bitcoiner say : “ NYK - NYC “ ?
This is the opposite.
Polar opposite. You give your keys away to these 3rd parties.
@@gainknowledgeandinsight. This is 3rd party custodial.
You literally give your keys to Lightspark.
Same as Cash App, or Strike.
It’s the polar opposite of Bitcoin, crypto, & self-sovereignty.
if it works, isn't that the point? everything is low volume at the start right?
Making it easy to move money concerns me someone could easily move my money.
Looks like you need to educate yourself about self custodial cryptocurrency and wallet use.
@@VancouverCrypt0 Right.
And then we can all agree that Lightspark is 3rd party custodial. Same as Cash App, or Strike, or Wallet of Satoshi.
You literally give your keys to them. And hope they take care of your money for you.
Network fees have been crazy lately after the having.
because of runes... now its low again.
my question is what's the catch with lightning network.
The catch is it's the lightning Network and it's not the Bitcoin Network it doesn't have the security of the Bitcoin Network it's completely centralized
What do you mean
lightning network is not centralised. its a fast transaction network that doesn't have as high levels of security. think of it as like pooling a large number of bitcoin transactions but not on the bitcoin network. they can then be settled later so lowering the fees and increasing the speed. the catch is you don't have the same security but for small transactions, do you care?
Why not use Bitcoin cash for transactions?
@@mikea2606 because is its not bitcoin
funny how 'be your own bank' maxi's are suddenly cool with btc banks when they learn the system doesnt scale
DIY self custody lightning exists, what they are describing is a KYC/AML validated version of lightning. Also if you followed the bitcoin community you'd know that maxis never agree on anything, many are certainly not cool with this.
Well be your own vault is a better analogy and the more important one. I don't think people care about how their coffee purchase is handled. it's not that important
Ask him if he knows the $KASPA technology?😅
Indeed, besides Bitcoin, Kaspa is the only other fair/pure fixed-supply crypto asset & Layer 1 Proof-of-Work with 100% fair launched & mined supply,
The BlockDAG protocol is monumental innovation,
The longer people take to realize that, the more I can own for myself, just wish I found it sooner than July ‘23, but from my understanding I’d say prices are still very advantageous within this cycle, let alone long-term.
- I also think it’s likely some people are keeping quiet about Kaspa for now to keep it under wraps, which is fine by me 😎
sounds like Nuetron pay
Lightning only scaling is for feds
i know the person that invented Google Translation
This is so cypherpunk... NOT!
Saylor is a simp for KYC, AML, corporations and government.
Lightning for businesses is boring and pointless. Sending fiat currency around is boring.
We need fungibility, privacy and we need it for the little guy.
It's sad usa can't use lightning
I'm in USA I still use lightning pretty much everyday
Have you heard about XRP.?. 10 Years ahead of you buddy.
Oh yeah…. Let’s use a centralized company over a decentralized protocol….. makes complete sense or better yet why don’t we just use a centralized stable coin…
exactly! well said!@@Ducotevision
The weeds need to be allowed to grow with the wheat😮
Dyor $KAS 🎯 🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥
Buy now, cry later
sure, if you care that much about a 5 dollar transaction. I won't be crying about it.
@@rashadal-safar1931 are you for real? Like even a cup of coffee is cheaper than a 5 dollar transaction lol “the future of finance”
Get a D’CENT Cold Storage Biometric Wallet! SeedPhrase protected as well as Biometric finger print. 👍
why?... not giving up biometric data!!
@@ericmorrison8772 extra layer of protection that is stored on the device. Can’t send crypto out of the wallet without it.
This is actually rather disgusting how misleading this is.
These transactions are not recorded on the Bitcoin base layer
The value of the exchange does not exist on the Bitcoin base layer.
The lightning network does not have the security of the Bitcoin Base layer.
Lightning nodes are drastically less secure than Bitcoin nodes.
These are the facts.
Basically all layer two Solutions suck as they all suffer from these drawbacks.
The best solution is to allow more transactions in a single block.
This is the reality which is being hidden from us all.
So true.
“Tx not recorded”.
In fact they’re not even recorded on Lightning.
There’s no such thing. These are just IOU’s floating around on some company’s Excel spreadsheet. The user gives their keys to Lightspark, or Cash App, or Strike - then cross your fingers and hope that they give it back to you someday.
“LN does not have the security”.
In fact, there is no security at all.
There is no blockchain, no Dag, nothing. You hope & pray that :
1. They entered your trade in their spreadsheet, &
2. They are in the mood to give your money back someday.
"These transactions are not recorded on the Bitcoin base layer", who cares? how would that every scale to 8 billion people? Why would you want to archive forever a transaction of someone buying a pack of gum. If you don't like it don't use it enjoy your big block solution that will go nowhere and never be actually used.
@@stevemason3333 “Who cares ?”
‘Ok, so that’s it then. Experiment is over. It failed. We all throw in the towel. We can’t have decentralized money.’
So if you are happy to use a completely centralized 3rd party custodian for your money -
Then why would anyone use Lightspark? Why not just stay with your bank ?
Say you need to input EUR, and deliver USD to someone, why not just use a Fintech - Revolut, or ETransfer, N26, etc. ?
What’s the difference?
@@stevemason3333 I care. I care a lot about it being decentralized and permission less. The moment you sign up for 3rd party custodial, KYC you lose your permissionless.
That is the very core of Bitcoin. It saddens me that lightning is treated so seriously.
Fees are terrible on btc network. Lighting sounds great until the day it gets hacked. Study BCH
I hope lightning fails.
Forget Shiba and Dogecoin. The next Bull runner gonna be AMS59K
Sounds like the same thing XRP is going.
XRP is not decentralised
Except no one really wants to hold XRP. People and corporations want to hold Bitcoin.
Nice Patek
Does lightning work with swift and visa and Mastercard and many other financial institutions around the world? Ripple does that already..hard to listen to these clowns
Yes the xrp clowns
why would you want lighting to work with swift?
The AMU naming convention seems a good idea until you pick a name and you’ve got a crappy company on the end of it. Why can’t we just have NAME.btc or NAME.bitcoin like ENS names with NAME.eth
It was quite fascinating at 39 minutes in when Michael brought up the subject of security and his question was completely ignored and responded to with an answer that had nothing to do with the question and Michael just ignored the fact that his question was ignored.
I didn't see him ignore any question at 39 minutes. I heard a question about reliability, but not security. His answer was to try the lightning network with your coin base account to see for yourself how reliable it is rather than tell you about it reliability.
@@airjunkieadam
The non answer was at 39 minutes in ... the question itself was at ~ 37 in where he flat out admitted that the LN is a completely separate chain 100% outside of BC and thus does NOT have any of its inherent security attributes ... L2's DO NOT give you ANY of the trilemma characteristics of the base chain L1.
Anyone who disagrees is brainwashed or ignorant of the facts
its magical bitcoin ❗️
Isn't what David is doing exactly the same thing as companies like Wise and Revolut are already doing?
Not really because wise and revolut can't interface with each other, and it takes a lot of effort for them to work with others. David's company automatically works with all current and future lightning wallets and companies.
@@SAL-fs1mr Ooh if Wise and Revolut do not use a block chain than that is by definition true. Trust me I know, I created interfaces in IT for more than 15 years in the past. So I assumed Wise and Revolut use a block chain.
The difference is its a more open platform, you and the person you are sending to don't need to be using the same company, just one that is UMA compliant.