Great news for Electrum users!

[xBDT Script 4371]

In the next release they are going to add Lightning payments which means we will not need to go with any other party to create a channel for Lightning payments. The have not announced any date yet but it's fairly confirmed that it is coming with the release.

The good news is that you will not need to run anything else to have it and obviously you keys are yours.

Quote

The next release of Electrum will support Lightning payments. Our lightning node implementation has been merged into Electrum's master branch.

 Link 

 

Thoughts?

 

[CrazyIvan 258]

I'm really interested in this. Actually I have never used lightning network before. From what I read, the fees are much lower when using lightning payment. is that true?

If so, it would come in very handy when handling small payments, because nowadays for small amounts of BTC the transaction fees can be high. If the lightning network is implemented properly, it could mean alot for the adoption of BTC

[xBDT Script 4371]

Just now, CrazyIvan said:

I'm really interested in this. Actually I have never used lightning network before. From what I read, the fees are much lower when using lightning payment. is that true?

You can broadcast a transaction paying only 2 satoshi, 1 satoshi is also possible LOL

1 minute ago, CrazyIvan said:

it could mean alot for the adoption of BTC

Well all those days using a lightning payment was hassle but if Electrum bring it in their client then a lot of us will use it more frequently. Who wants to spend minimum 226 sats instead of 1 or 2 sats.

A lot of the small amount transaction will be possible then.

[xBDT Script 4371]

3 minutes ago, phabulu said:

This is great news, I've never used the lighting network because none of the wallets I use support it, I'm using electrum now and this will be really good to have the first contact with that.

You will be amazed with the fee you will pay lol

I have used lightning network just to have fun and it's indeed super fast and super cheap. Now lets hope we see the next release very soon.

[cryptex 623]

20 minutes ago, xBDT Script said:

In the next release they are going to add Lightning payments which means we will not need to go with any other party to create a channel for Lightning payments. The have not announced any date yet but it's fairly confirmed that it is coming with the release.

The good news is that you will not need to run anything else to have it and obviously you keys are yours.

 Link 

 

Thoughts?

 

Is there any exchange that allows to top account via Lightning protocol? As far as I know the list-A exchanges like Bitstamp, Bittrex, Binance etc. do not support it so far.

[xBDT Script 4371]

Just now, cryptex said:

Is there any exchange that allows to top account via Lightning protocol? As far as I know the list-A exchanges like Bitstamp, Bittrex, Binance etc. do not support it so far.

No! no exchange so far have it with then yet. Well so far there are not much buzz around it. People are not really using the protocol yet for serious amount of money. Everyone is trying to taste the feeling but if Electrum brings the feature then we will see a massive change in the culture since most of the users of Bitcoin are more or less using Electrum client.

 

[CrazyIvan 258]

When the Electrum update rolls out, do we need to do any special procedure in settings to enable lightning payments?

[xBDT Script 4371]

14 hours ago, CrazyIvan said:

When the Electrum update rolls out, do we need to do any special procedure in settings to enable lightning payments?

No, you do not need to do anything else. All you will need to do is to create a lightning wallet and send some BTC there to use for any payment you have. I guess this is the idea.

[hexwin 4931]

I saw this news, and it is nice to hear it, but I think you will need to run lightning network node to be able to use Electrum wallet. I would wait and see how everything will look like and compare fees

[xBDT Script 4371]

2 hours ago, hexwin said:

but I think you will need to run lightning network node to be able to use Electrum wallet.

The bottom line is that you will not need to do any extra setting or anything to be able to use the lightning network using Electrum. The only thing you will do is to create a lightning wallet. This is why everyone of us are excited.

Before it was really complected. 

[hexwin 4931]

2 minutes ago, xBDT Script said:

The bottom line is that you will not need to do any extra setting or anything to be able to use the lightning network using Electrum. The only thing you will do is to create a lightning wallet. This is why everyone of us are excited.

Before it was really complected. 

Do you know can we used same addresses we created before in Electrum wallet or we need to created new addresses to be able to send and receive BTC with lightning network?

[xBDT Script 4371]

1 minute ago, hexwin said:

Do you know can we used same addresses we created before in Electrum wallet or we need to created new addresses to be able to send and receive BTC with lightning network?

The address for lightning payment will be totally in different format. 

This is how it will work as I believe. 

1. You will create a Lightning wallet 

2. You will send a certain amount of btc there to spend

3. You will spend and receive money through the lightning wallet

4. Once you will need to take the money off in your original bitcoin wallet you will move the money from the lightening one to your original one. 

So when you are sending money to regular bitcoin address to lightning wallet you are paying regular fees, when you are taking money from lightning to regular wallet you are paying regular fess.

The only case of lightning fees you will pay when the tx will be lightning to lightning.

[1millionClub 494]

This is going to be a game changer indeed.

This is adoption guys. Instant transactions with nearly zero fees, and people were saying bitcoin is not usable as a currency. Good news for us, bad news for shitcoins. Haha.

[xBDT Script 4371]

1 minute ago, 1millionClub said:

This is adoption guys. Instant transactions with nearly zero fees, and people were saying bitcoin is not usable as a currency. Good news for us, bad news for shitcoins. Haha.

Imagine you are paying to buy goods and service and the fees is 2 sat LOL

This is what we are waiting for. This will inspire a lot of merchants to add bitcoin Lightning payment to receive bitcoin and also us users will not hesitate to pay with is coz we know that we are going to pay a very very less fees.

In the past to buy a $50 service I personally paid over $2 fees. This happens when you use Bitpay.

[1millionClub 494]

Just now, xBDT Script said:

Imagine you are paying to buy goods and service and the fees is 2 sat LOL

This is what we are waiting for. This will inspire a lot of merchants to add bitcoin Lightning payment to receive bitcoin and also us users will not hesitate to pay with is coz we know that we are going to pay a very very less fees.

In the past to buy a $50 service I personally paid over $2 fees. This happens when you use Bitpay.

Bitpay itself is a corrupt company anyway. They censor people's transactions and promote that scamcoin bch by raising the fees of btc artificially. They ask too much for a btc tx fee even when the fees were very low on that chain. Bitpay basically works against bitcoin at that point and should be avoided.

[xBDT Script 4371]

3 minutes ago, 1millionClub said:

Bitpay itself is a corrupt company anyway. They censor people's transactions and promote that scamcoin bch by raising the fees of btc artificially. They ask too much for a btc tx fee even when the fees were very low on that chain. Bitpay basically works against bitcoin at that point and should be avoided.

Well guess who is behind this? Roger ver LOL

He is one of the guy who heavily invested in BitPay so obviously the focus is to push people to use his BCH.

The only payment method I sued with bitpay is BTC, of course not going to use others despite I had to pay more fees.

[teminalibug 309]

I was trying to read comments to understand this but i think I'm even more confused, what's an electrum is that a wallet that i know about? and what is lighting network? 🙄

[1millionClub 494]

19 minutes ago, teminalibug said:

I was trying to read comments to understand this but i think I'm even more confused, what's an electrum is that a wallet that i know about? and what is lighting network? 🙄

Electrum is a quite popular custodial desktop wallet for bitcoin.

Lightning network is a 2nd layer scaling solution for bitcoin.

Electrum will be having LN in the next update. I hope you are not confused anymore. :)

[xBDT Script 4371]

11 minutes ago, 1millionClub said:

I hope you are not confused anymore. 🙂

Aham!

Well I think we will need to create some topic about bitcoin and the wallets. I really see a lot of people really does not know about some of the common wallet. For them bitcoin means coinbase or a payment system like paypal.

I just need to find some mood to do those things.

 

[1u44s7 11]

If you want a wallet that supports lightning network I recommend Eclair Wallet. At this link there is a download and instructions explaining how to configure and run the application:

puzzle.github.io/en/tutorial-mainnet-lightning-network-wallet.html

[xBDT Script 4371]

29 minutes ago, 1u44s7 said:

If you want a wallet that supports lightning network I recommend Eclair Wallet.

I know about it.

But using this eclair and having a wallet option in Electrum is two different thing. Electrum is widely used wallet client and having lightning support in there will make he life easier for all of us. 

[1u44s7 11]

Well now I got it. This is very good news indeed. When they are planning to release a new version of wallet with LN ? Will there be a windows version as well?

[xBDT Script 4371]

9 minutes ago, 1u44s7 said:

When they are planning to release a new version of wallet with LN ?

No specific date yet however we can expect it soon. 

Quote

Will there be a windows version as well?

We can expect for all OS I mean whatever platform they have in here: https://electrum.org/#download

 

[xBDT Script 4371]

Just now, bichou1584 said:

Great news I am mining this currency on the phone and kept it for several months waiting for its rise.  I hope that this news is positive for the currency of electronuom and push it up

You got it totally wrong. We are not talking about Electroneum here LOL. I know Electroneum and I had over 0.1BTC worth of them but in Cryptopia hack I lost them.

Anyway, we are talking about Electrum wallet. This is the most popular desktop wallet in the planet now for bitcoin 😊

Here: https://electrum.org/#home

[xBDT Script 4371]

1 minute ago, bichou1584 said:

This is very embarrassing.  But I have never heard of this most popular wallet in the world although I have many wallets xapoo coinbase blokchain Trust huobi ..... all in use and this is the first time I hear an electrum wallet

You are not serious or are you?

My bet is that you are not regular Bitcoin user or not for long time in this space. For a regular bitcoin user or at-lease been in with this space for few years should be knowing about Electrum wallet. 

Anyway, I am glad that I was the one who introduced it to you 😊

Try it, you will not regret. Most of us use it if not all.