Today we are going to talk about the Lightning Network which is a “Layer 2” solution for bitcoin transactions. If that sounds complicated, don’t worry I will help you make sense of it all today. There is a lot of Fud about Lightning, generally this comes from shitcoiners in general but mostly from Bitcoin Cash holdouts who chant nonsense such as, “Bitcoin Cash is the Real Bitcoin”.
The reality is Lightning is exactly the type of solution bitcoin’s creator, Satoshi Nakamoto envisioned for bitcoin and its perceived shortcomings.
Nakamoto wrote the following in 2010…
“The nature of #Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime.”
Today we will talk about how Lightning actually works, why making BTC transactions fast and cheap is only part of its utility, how the reality of modern currencies come in and lastly even how we can use emerging technology that leverages lightning for true “local and community economies”.
This will be Episode 4 of “The Bitcoin Breakout”, the first four episodes can be found here until we get the new stand alone site and feed for breakout editions up and running.
Join Me Today to Discuss…
- What exactly is the Lightning Network
- The basics of how the Lightning Network works
- The pros and cons of running your own lightning node
- Bitcoin is a “bearer instrument” and what that means
- Why the entire concept of “layered solutions” protects bitcoin by keeping it “conservative”
- Why the ability to settle dollars on Lightning is actually the biggest news right now
- How to get your BTC into Lightning Form
- Use Exodus
- Cash App now has withdraw over Lighting
- Take lightning payments for what you sell
- My favorite lightning wallets to start out with
- What Lightning is Really Coming After
- You can fight this, but it won’t matter
Resources for today’s show
- Follow Life With Jack on Instagram
- Join the Members Brigade
- Join Our Forum
- Walking To Freedom
- TSPC on Discord
- TSPC Group on Telegram (group chat)
- TSPC Telegram Channel (just messages from me)
- Jack on Flote
- Jack on MeWe
- Join Me on Odysee
- SOE Tactical Gear – Where I get all my cool shirts
- Get the Exodus Wallet
- The Trezor Model T Hardware Wallet
- The Trezor Model 1 Hardware Wallet
- How to Pair Trezor with Exodus
- Buy Crypto Safe and Easy on CoinBase
- My Favorite NoKYC Crypto Exchange CoinEx
- Buy Bitcoin with Strike
- Buy Bitcoin with Swan Bitcoin – Not Active Yet
- How To Make Your Own Crypto Steel Recovery Seed Backup for Only $3.35
- Get Wallet of Satoshi
- Get the Breez App, Use and Stream Lightning to your Favorite Podcasters
- Learn about Lightning at Tip Lightning
Video Version of Today’s Show
Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon.
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