The October 2021 State of Lightning report provides the most comprehensive overview of usage on the Lightning Network seen to date. The report highlights and explains the growth in network metrics, provides never before published estimates of mainstream adoption on the Lightning Network, and looks into the future. Without spoiling too much, future Lightning activity is likely measured in billions, if not trillions.
The Bitcoin Lightning Network has a theoretical throughput of 40 million transactions per second. That’s the equivalent of 14.4 TB size blocks every 10 min. Lightning enables Bitcoin to be a planetary scale decentralized medium of exchange.
A video version of this page is available on my YouTube channel:
Why Bitcoin Lightning Network? To help and empower people!
"For a challenger to continue to advance then, it must continue to offer more advantage than the copycats while staying under the radar from the monopoly for enough time to gain enough scale or gain “network effects” before the monopoly takes notice. The best way to do this — is not by competing on everything that a monopoly competes on, but instead, picking a very small part of a market that goes relatively unnoticed by the monopoly and providing the 10x advantage to only that."
INTJ Billing is proud to offer a dedicated 24/7/365 Bitcoin Lightning Network node. The server this node runs on had been specifically set up for uncensorable payments using Bitcoin and the Lightning Network for the purpose of serving the interests of the sex industry and sex workers in Thailand and Australia but this use case was recently refused by AUSTRAC. It's a virtual server running BTCPay Server with a Ride The Lightning instance running on bare metal not in the cloud and it sits outside the control of the grubby hands of big tech and the governments of the world. Unfortunately INTJ Billing is unable to legally offer digital exchange and remittance services to sex workers due to being refused by AUSTRAC but the lessons of setting up this lightning network server Clarke is able to provide to those who might be interested in setting up their own lightning server for adult payments.
The INTJ Billing Bitcoin Lightning Network Node Service Level Agreement goal is 99.99%. This means the node is kept up and online with the following periods of allowed downtime/unavailability:
Clarke works to empower transgender sex workers and their clients both here in Australia and in Thailand so they will never have their payments blocked ever again by the banks, payment processors and the governments of the world who have discriminated against the industry for too long. If you work in the adult industry Clarke will help you. Clarke is not however able to legally offer you merchant services using his bitcoin lightning network server due to being refused by AUSTRAC. Clarke will however teach you everything you need to know in order to set things up for yourself or your business in order to accept bitcoin lightning network payments.
INTJ Billing has recently opened it's largest Bitcoin Lightning Network payment channel to date worth over 5 million satoshis ($4,000 AUD / 95,958 THB / 144,000 PHP) to IBEXmercado which is a key Bitcoin Lightning Network node that is on boarding merchants with hundreds of store locations in El Salvador empowering them to accept instant Bitcoin Lightning Network payments free from the clutches of the rip off remittance merchants like Western Union.
A lightning network channel is a transaction mechanism between two parties. Using these channels the parties can make or receive payments from each other. Individual payment channels between various parties combine to form a network of lightning nodes that can route transactions among themselves.
Central banks print trillions of dollars out of thin air which devalues/steals money from the worlds poorest people. Bitcoin with it's fixed supply solves this and gives these people (and all of us) a much more fair and equitable hard money. The banks and the governments of the world can't f*ck with it like they do with every other asset.
For those of you Bitcoin early adopters that have plenty of bitcoin if you have the technical skills I urge you to get involved like I have, build your own lightning network node, open payment channels and do your bit to help bring economic empowerment using the hardest and scarcest money ever with a fixed supply to the people that need it most from around the world. I'll help and support anyone that wants to build and run their own lightning network node. I have created a spreadsheet here which contains a lot of the bitcoin lightning network command lines that are useful for node operators. There is also a video on my YouTube channel explaining this spreadsheet
I'm very proud to be doing my bit to help the people of El Salvador achieve economic freedom using Bitcoin and the Bitcoin Lightning Network! 😀 ⚡
If you're into Bitcoin and you're running your own Bitcoin Lightning Network node Clarke will open a channel to your node. Please contact Clarke if you're interested in doing
this. Clarke will open a channel with you between 500,000 sats to 1,000,000 sats in value if you're willing to open a channel back to Clarke's INTJ Billing Bitcoin Lightning Network node in the same amount of satoshis. A handy calculator is available at this link to help you convert satoshis to your local currency.
If you have just recently set up a Bitcoin Lightning Network node and you need inbound capacity you can check out these handy links which explain ways you can set this up quickly
This server searches the network for public nodes that gives you best additional reach with respect to your already existing channels. It does not take capacities or balances into account, but focuses in maximizing the number of nodes reached in a minimal number of hops.
Develop your own data-driven Lightning Network insight
Discover network-wide statistics on nodes, interactively explore node local networks, measure the impact of opening or closing a channel, and identify potentially profitable paths in the network
We track the adoption of the bitcoin lightning network by merchants and allow users to find and review them.
INTJ Billing purchases inbound channel capacity from yalls.org, coincept.com, LNBig and Bitrefill
If you run your own online store, you will want to receive Lightning payments. To receive Lightning payments yourself, you need In-Bound Capacity. Your in-bound balance is the sum of all remote balances on your various channels. You can receive Lightning payments up to the amount of this Inbound Capacity.
INTJ Billing's Bitcoin Lightning Network Node is participating in swaps with the following Lightning Network nodes:
Grand Archer and Rollo
Anonymous3062 and vendetta/Anonymous3064
unh and Nikola Satoshi
LND01Dallas and se.Coin
Bloodbeat and UmbrelGuy369
SatoshiPrime_io, jayrockrpb, WaZZa and EC
Piotr ☇ and captainchaos
nimbus and manofsteel
Perhaps the two most important statistics when looking at the growth of the Lightning Network are the number of lightning nodes and the number of lightning channels running on the network. The increase in these numbers allows for more capacity on the network.
Since this time last year, the number of nodes running the Lightning Network has increased about 105%. One year ago the Lightning Network had just over 7,700 nodes. Today, the network has grown to be over 15,800, which has increased its capacity.
The quantity of channels connecting nodes has also drastically increased at the same time. Just a year ago there were under 38,000 channels on the entire network. Today there are nearly 73,000 channels connecting nodes on the network, representing an almost 92% increase.
Clarke's node Chillycalender is connected to Bitcoin Lightning Network nodes both in Australia and in countries from around the world including the USA, Canada, Ireland, Iran, El Salvador, Ukraine, Russia, China, Brazil, Colombia, Singapore, Thailand, Sweden, Costa Rica and India.
As you can see from this graphic we're still very very early for using Bitcoin as a medium of exchange. Being in the space now
and developing skills and building lightning network nodes means we're way ahead of the S curve and other people
Lawrence Lepard Gives An Amazing Bitcoin & Sound Money Speech At New Orleans Conference: Oct 21 2021