Happy Sunday everyone! What a ride we had this week. Bitcoin skyrocketed from $9900 early in the week all the way to $12,300's this Saturday. Crashing afterwards and settling today above $11,000. I do not know about you but I am a true Bitcoin believer. I love when the price is high, I try to meditate when the price is low, but the little I own I hodl with a strong hope that the Bitcoin Network will continue strive into the future. #BTC This fun Bitcoin Believer and Bitcoin Believe Image will soon be available as a greeting and as other products on my Zazzle Store! Leave a comment and me know which products you would like to see with this print. Long Live Bitcoin All my best, Michelle M. www.mammycrypto.com
The Lightning Network simplified. What I learned from guest speaker Ecurrencyhodler.
It was truly a pleasure to be part of the first Litecoin (LTC) meet-up in Orange County. The event organized by the Litecoin team of west coast volunteers showcased a fantastic presentation by guest speaker, Andrew Yang also known as @Ecurrencyhodler in the crypto community. Author of the book “Understanding Litecoin” and COO of BlockFuse, Andrew focused his presentation on the Lightning Network Technology. He explained several points on how the Lightning Network can help solve the scalability problem of both Bitcoin and Litecoin. A special thank you to my husband for lending us his work space, Travertine Market, as a location for the meeting and allowing us to make this event Free for everyone.
The Lightning Network is a very promising and exciting technology for both the Bitcoin and Litecoin community. In this article I will point out the reasons why. At the same time the Lightning Network has also been criticized by the Bitcoin Cash community. Let me address this now.
The Bitcoin Cash community, last year opted to split from the original Bitcoin blockchain and adopted a block increase and a new coin named Bitcoin Cash. They stated that block increase solved the scalability problem, and it does temporarily, however this solution proves to be unsustainable. In his presentation Andrew points out that over time, a block increase can lead to a large blockchain size, which will make it unprofitable for a regular person to run a node on their computer. Consequently, jeopardizing the main roots of decentralization.
On the other hand, The Lightning Network just came out with a very smart solution for this problem, and one that does not need to change the core values that were set by Satoshi Nakamoto. It is a solution that runs in parallel aiding the network and enabling faster and more intricate types of payments. Payments thru the Lightning Network are run outside of the blockchain. A short-cut that saves us from waiting on 6 confirmations ( on average 15 mins for Litecoin and 1 hour for Bitcoin). And is enabled thru the use of channels.
What is the change ramifications that this technology can bring?
The implementation of the Lightning Network can and will bring two significant advantages. Faster processing as mentioned above and the prevention of network clogging.
With Lightning network the possibilities for Bitcoin and Litecoin use expands. One of them is of point of sale terminals. It is possible to complete a purchase without waiting for confirmation while still making the transaction secure. But how if the 6 confirmations haven’t been completed? Well thru a channel that is open, which in a sense escrows the funds for s short period of time, until the transaction is finalized. In addition, after waiting on the recommended 6 confirmations many merchants rely onto have reasonably high assurance of payment finality for on-chain transactions.
Unclogging of the Network is also a huge benefit brought by the Lightening Network technology. With the lightning network one can now send multiple payments in one transaction, eliminating fees incurred in each transaction and simplifying payment processing.
Many other advantages have been highlighted as well, as the protocol facilitates accounting processes and enables a creation of accounts and payment relationships that can be maintained over time. Well through an open payment channel that enables transactions off-chain and only settles on the blockchain once the channel is closed.
Truly fantastic applications that will certainly be build using this incredible resource. If you would like to know all the technical aspects of the Lightning Newtwork make sure to listen to E-currencyholder podcast of this event, coming out Wednesday Nov 14th. It was truly enlightening.
I am also posting below a video of Elizabeth Stark, (CEO of Lightning Labs and Lead Developer) of this project that I recorded during the Litecoin Summit. It is the day she announced the completion of this wonderful project that truly has the power to take this whole “Crypto Thing” to a new level. Watch part of her speech and feel her excitement!
I am amazed I did not stumbled upon Publish0x platform before its Beta launch in October 2018. Developed by the same team behind "Bitcoin Aliens".. Let's just say they know what they are doing and so far all the projects they worked on have succeeded. So I joined in and decided to try it out before the full version comes to life. I like to try new things as many of you know but this platform has some quirks that makes it impossible to not draw you in.
TIPS! It is all about the FREE tips.
Once I joined the platform I discovered that I not only got rewarded tips as an author for producing good content but also a reader for enjoying topics and authors I like. Each member receives the same tip allocation and I can even choose how much to reward the writer and how much to reward myself for reading each piece.
Below are few details about Publish0x that I think is important to know when deciding to join in.
The name of the platform is pronounced Publish, the 0x is silent. Thank yo…
DOWNLOAD BRAVE TODAY If you ask me if it was worth it downloading the Brave Browser, my answer is: Reck YEAH. I am not only having a lovely browsing experience, faster and safer than I ever experienced before. But I am also earning BAT tokens on a daily basis using few methods. I will describe the 3 methods in this article as well as showcase my current earnings.
First method: Brave Rewards.
Basic and simple once I downloaded the Brave Browser, installed it and used it; the ad earnings started accumulating. In order to maximize the gains I also set quantity of ads to be displayed to the max (5 per hour). And I do click in the pop ups every time I get a chance. I do not browse in the computer very often, I would say about 2 hours a day MAX and even then I was able to accumulate 38.9 BAT tokens equivalent to $13.13 as of today June 5th 2019. Was it worth it? For sure! Here is a screen shot of my earnings which I am already using to tip publishers registered on Brave.com
The Litecoin Foundation announced recently the release of its much anticipated project, the Blockcard debit card. The debit card will enable Litecoin holders to load their Visa Blockcard with Litecoin and spend their Litecoin assets as cash anywhere Visa is accepted. A technology that bridges a gap between commerce and a new age of global consumers spending digital cash.
The Litecoin Foundation teamed up with Ternio, crypto credit card provider and Bibox exchange to create a seamless experience for the end consumer when using the Crypto Debit cards. Together they are able to provide a technology that protects the store owner from market volatility. while at the same time, makes it practical for the consumer to spend their crypto assets. The client now is able to load the (Ternio Blockcard) card with Litecoin (LTC), Ternio (TERN), Bitcoin (BTC), Ethereum (ETH) and more. At point of sale the cryptocurrency gets converted into cash. All, possible by the integration with BiBox exchange …
My opinions are simply my opinions and not investment advice. I strongly recommend everyone in the crypto realm to do their own research and get very educated about risks and security before acquiring, earning or investing. The content in this blog/ website is not investment advice. Please note that this web site also features sponsored content.
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