Bitcoin Rehab: Running Plebnet with American HODL, P & D++ - WBD428

Mr Obnoxious

Peter McCormack

Technology, News, Politics, Money, Investing, Finance, Bitcoin

4.8 • 2.7K Ratings

🗓️ 25 November 2021

⏱️ 76 minutes

🔗️ Recording | iTunes | RSS

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Summary

Location: Remote
Date: Wednesday 25th November
Project: Plebnet

The benefits of the Lightning Network are clear for all to see. By taking transactions off-chain, you can settle almost instantly for a tiny fee while retaining better privacy than with an on-chain transaction.

The Lightning Network is paramount to Bitcoin's scaling, and it is growing at a rapid pace, but while the Lightning Network is thriving, for new users it can still be a daunting experience. When running a Lightning node, you need to consider things like opening and closing channels, channel size, rebalancing and liquidity.

Luckily, Plebnet is here to help. Starting out as a small group of people looking to educate and onboard Bitcoiners to Lightning, they have grown into a community of over 5,000 members and over 1,100 nodes.

In this interview, I talk to American HODL, P, and D++. We discuss the importance of the Lightning Network, the challenges of onboarding people and the growth of Plebnet.

Transcript

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0:00.0	We have lightning and lightning is Bitcoin and lightning does millions of transactions
0:05.9	per second instantaneously with finality of settlement.
0:10.9	They're irreversible, there's no mining, there's no blockchain, and if this sounds like magic, it absolutely is.
0:17.5	So it obliterates the use case of every shit coin in the world and it actually kind of obliterates the legacy
0:23.8	financial rails as well you know at the speed of dare I say lightning.
0:29.9	Hello there how are you all? Welcome to the What Bitcoin did
0:33.8	podcast which is brought to you by Gemini, the only place I am using for
0:37.4	buying Bitcoin. I'm your host Peter McCormack and before we get into today's
0:41.2	interview I do have a quick message from my show sponsors
0:44.8	and this show is brought to you by BlockFi.
0:47.0	And you can now earn a $250 bonus
0:49.6	with Bitcoin when you sign up with BlockFi,
0:52.0	as they have recently launched their Block
0:53.5	Fire Rewards Visa signature card. Now for people in the US who own or are
0:57.5	interested in owning Bitcoin or stacking more Sats, the Block5 rewards
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1:07.6	and there is no annual fee.
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1:11.2	with Bitcoin rewards on every purchase. You can also earn 2% in
1:14.9	Bitcoin on every purchase over $50,000 of annual spend and you can also get 3.5%
1:20.4	back in Bitcoin during your first three months of card ownership, but please do make sure you check out the terms for this.
	...

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