Bitcoin For Beginners Part Deux: The Lightning Network Deep Dive

First, we have a quick shoutout to Jill and Cary. Luc gives us a quick update on his new job and why he decided to join a company. At 6:14 we get into the deep dive on the Lightning Network. First, we start with some basics about how the Bitcoin blockchain and some of its known limitations. This leads us to the basics of the Lightning Network. Then Luc frames the issue around how the critics of Bitcoin compare Bitcoin to the traditional finance system. We then get into some more details about how the Lightning Network works and compare and contrast it to the traditional finance system and traditional finance players like Visa. Then Nate provides some statistics regarding the Lightning Network, some security issues with the Lightning Network, and then BOLT 12, an upcoming implementation of the Lightning Network. Then we walk through Nate generating an invoice using his Lightning node. Then we talk about bitcoin hitting a new all-time high and Nate's bet with Ryan. Then we talk about using leverage to short or long bitcoin. Then we end discussing a few bets including a bet for $5 that bitcoin will hit $100k before the end of the year and a different bet some of Nate's friend's lost at a wedding. Don't forget to subscribe and review this podcast wherever you listen to it! Resources mentioned in this podcast episode: Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies by Nik Bhatia The article on a possible identity of Satoshi: Len Sassaman and Satoshi: a Cypherpunk History by Evan Hatch Will Clemente Dylan LeClair



If you want to start dollar-cost averaging into bitcoin, Nate's favorite service is Swan Bitcoin. You can get $10 of free bitcoin using this referral link: https://www.swanbitcoin.com/NathanCPerry/

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