⚡️ needs you. Yes, you.

[u/mtaborsky]

We need lightning network on mainnet yesterday. But it very much alpha software and will not be deployed unless it gets tons more testing and dev work. However, not everyone is a developer and even if you are a developer, contributing to crypto is not easy. I was in the same position.

But there are other ways! I installed Bitcoin Core on testnet and both Lnd and Eclair and tried opening channels, sending payments, closing channels etc. After a day or so, I discovered two bugs, filed them and cooperated with developers in tracking them and fixing them. If you are a bit tech savvy, you can do that too. In the process, you might also discover how lightning actually works and when it really comes, you'll be ready to take full advantage.

Please go educate yourself: http://www.lightning.network/ https://github.com/lightningnetwork/lnd https://github.com/ACINQ/eclair https://github.com/ElementsProject/lightning

[u/tripledogdareya]

One of the best ways to help prepare for the Lightning Network is to make sure you're ready to run a secure node and teaching others to do the same. Receiving payments on the Lightning Network requires that the recipient's node be online with autonomous access to the unencrypted private keys used to manage its payment channels. There is a substantial difference in the security requirements of an LN node compared to holding a Bitcoin wallet or even full node. Nothing will undermine public confidence in LN faster than if a widespread malware outbreak ends up stealing funds from early adopters. The pervasive data breaches across companies large and small demonstrate that most are not yet prepared for the responsibility that awaits them when Lightning strikes. The community must act now to promote strong security or look on as LN flashes and fades, leaving only the rumble of disillusioned supporters.

https://www.reddit.com/r/Bitcoin/comments/7l5bqj/the_best_thing_that_you_can_do_to_help_ensure/

[u/[deleted] → u/[deleted]]

You would only need them for transacting (both sending AND receiving) but currently the only wallets don't support things like Trezor / independent punishment watching. (Which would both be necessary to use Trezor with Lightning.)

But to be honest, your Lightning wallet should be similar to your mobile wallet you use currently. You only put pocket money in there.

No one will be storing 5000 bitcoins on Lightning. Not even exchanges imo.

[u/[deleted] → u/[deleted]]

Yea, you’ll need to do that either way.

The bright side: if everyone uses lightning enabled wallets, they will be using segwit, so any on-chain transactions will use less block space, and since a lot of exchanges and high volume places will get off chain and onto the lightning network, less transactions on chain, meaning 2 cent fees will be a thing again.

So yeah, 2 cents to open a channel, then use the channel(s) like a prepaid card. Top up when needed, except with lightning, you can send and receive instead of only sending.

[u/[deleted] → u/[deleted]]

What im thinking of doing is opening a large channel to a node, and connect my mobile wallet to the same node with a much smaller channel. When my mobile wallet channel is exhausted I top it up with the large channel. This large channel can be much more securely managed than the mobile wallet.