From mboxrd@z Thu Jan 1 00:00:00 1970 Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id 5BCFB4D3 for ; Mon, 10 Aug 2015 21:43:24 +0000 (UTC) X-Greylist: from auto-whitelisted by SQLgrey-1.7.6 Received: from mout.perfora.net (mout.perfora.net [74.208.4.197]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id E764817D for ; Mon, 10 Aug 2015 21:43:23 +0000 (UTC) Received: from mail-qg0-f51.google.com ([209.85.192.51]) by mrelay.perfora.net (mreueus003) with ESMTPSA (Nemesis) id 0MY5hO-1ZKbMp0sdc-00Unxy for ; Mon, 10 Aug 2015 23:43:23 +0200 Received: by qgeg42 with SMTP id g42so90924001qge.1 for ; Mon, 10 Aug 2015 14:43:22 -0700 (PDT) MIME-Version: 1.0 X-Received: by 10.141.28.11 with SMTP id f11mr44091521qhe.78.1439243002313; Mon, 10 Aug 2015 14:43:22 -0700 (PDT) Received: by 10.96.226.68 with HTTP; Mon, 10 Aug 2015 14:43:22 -0700 (PDT) In-Reply-To: <20150810211901.GD12450@navy> References: <55C79FF0.8040100@thinlink.com> <55C7CECB.7050905@gmail.com> <20150810210240.GC12450@navy> <20150810211901.GD12450@navy> Date: Mon, 10 Aug 2015 22:43:22 +0100 Message-ID: From: Adam Back To: Anthony Towns Content-Type: text/plain; charset=UTF-8 X-Provags-ID: V03:K0:8Zcja1os7Q2ci+ohittppSq0aSZkySg5+hz6R0+bqQPBCr9IyzW DH/HnhNdS7Ih1khIIBAWxGQbI+F7d3+NMNAESmKrIGbeL6lwMqKG+rWC6O2TXpT1zR3PFxk LEdYtLkwVLz0DlyXL72OINITeB98l+Re39W7RGLV6AVHrUBBUFz4lFKiTs0BuDZK9dNEeQ8 y7Kt6AFKXxEkYl/73bBSw== X-UI-Out-Filterresults: notjunk:1;V01:K0:rgj6ElLlNys=:9mYmQuiNuR7kCN09OLomgs H015TPBfkoVosWAn0qoQsN8kovBgMO16pTCXpJhzxQlDJRKoXjsdm+MgF90QpuEn+y+MlQ2J5 q/Jchuoo1KPFsVk7M39+WM163Lk0+1BmInCjqGTDkQ/zM0BZBgvnfjZkmAMjryzGP1epR/YNE EuVEbnj1WwNhmp9bG1JTnGW/H8meGNmt6AJA8bfbZk+inATGcmeJyDebilKuxNi+7hVMXisKB EVozKRGK7LP0w3WEOXFiEN7l3MxzPBudeT3MomwGlCxLVpBw64IQ+RdL7OezJCB2kL1Z+lpII gLyzBHHi7XUmtLdKrSHlisYtnzY/FkcfudALqwC249/DOZYAqvYzvenHjFK13OIgH2C7+JhKP qYONy+iNYdPdCEs0JebJhXcxxNUjQ/ekg9eSFtMm2tZQx+pa62cVC92hrecJ4hYsMZw9YgDiH X39KM/tjoTNUMw3+9rqhotzwnSLsV1opqbLEWK38m5D4MwzWON5J/KJjhCtcEds/EGw6Cs/Xr PkUJGPEJH4GtUxfibj7kxmI244sTKqwJwlXndt6mTi8jVd4XqL3RMlUQe32iL9CFJszLjKgaZ gWCJb4j9EKg+qSN1v4MKiFwm9GkLc8NCCr+eYos0TAY+ZtZc/2JDmgT/tfHa6xqNj7teshy4s aOqNpgzGSDufoig/98fTNQxPDdy0EFFl3K6+i1MwVoVYBtWGwKxaosuPJZUr5F/emd8qG8/R+ aKR9oz1yjIPoV+CY X-Spam-Status: No, score=-2.6 required=5.0 tests=BAYES_00,RCVD_IN_DNSWL_LOW autolearn=ham version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org Cc: Bitcoin Dev Subject: Re: [bitcoin-dev] What Lightning Is X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Development Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Mon, 10 Aug 2015 21:43:24 -0000 In terms of usage I think you'd more imagine a wallet that basically parks Bitcoins onto channels at all times, so long as they are routable there is no loss, and the scalability achieved thereby is strongly advantageous, and there is even the potential for users to earn fees by having their wallets participate in channel rebalancing (where hubs pay users to rebalance channels - end up with the same net position but move funds from one user-owned channel to another.) Exchange deposit, withdrawal, payments, even in-exchange trades can usefully happen in lightning for faster, cheaper more scalable transactions. Adam