Programmer explains Bitcoin Lightning

[@IvanOnTech]

haha when I rewatched this I noticed that I still say a substantial amount of "guys", sorry people, I will try better tomorrow 😅 Thank you everyone for giving constructive feedback on my language/videos, your feedback is really appreciated! :) ❤️

[@damianroth4265]

Don´t focus on useless things like that, just focus on the info… you are doing great!

[@InnerKnowledgeSeeker]

Thank you for asking for feedback. I don't think saying "guys" helps draw people's attention (in fact, it could even be more of a distraction). If you want to keep people's interest, keep sharing helpful info and maybe throw in some jokes or fun examples.

[@moldoveanubogdan2142]

Really man ?! You give us valuable information, I dont give a shit how manny times you say "Guys" as long as I got what I needed to know ! Some people will like the word "guys" some people wont, so just be yourself man, you are doing a great job.

[@collie8]

perhaps swing between guys, man, friends, assholes, people, kids

[@laurisskraucis2247]

Totally not a problem man, fuck the haters, you have one of the best cryptocurrency channels on the youtube!

[@beevo292]

"Guys" is your signature. You should lean into it and make t-shirt. "Guys, Bitcoin!"

[@IvanOnTech]

HAHAH good idea

[@wonderrrien]

Looove it :D Haha Ivan ! You made me laugh out loud when you said I'm going to try not to say it as much, so ... Let's get into it GUYS :D hahaha golden

[@snowcrash395]

I don't care if you say guys, or not. Content here is very good, either way.

[@andrewlilly2947]

I'VE GOT A FEVER, AND THE ONLY PRESCRIPTION IS MORE "GUYS"

[@lalitdhiman1000]

This is a great no bullshit channel. Keep em coming man, you are doing great !! Greetings from India.

[@IvanOnTech]

thanks man :)

[@awu25]

No problem with you saying guys, does help keep me from wondering away

[@pierceburns6733]

you failed to mention how hubs serve as an intermediary between wallets. bitcoin is a p2p network. lightning is banking 2.0 where users send IOU's off chain through censorable hubs acting like banks

[@autohmae]

The question is who will be the new banks.

[@joselourenco9583]

Cannot say that I had noticed them previously, so not an issue for me. The content is what draws me, the number of 'guys' is immaterial. Thank you for the great channel!

[@dsaraf777]

Why not increase the block size like Satoshi proposed to increase the transaction speed? The lightening network destroys the whole purpose Bitcoin.

[@balibill888]

Dory Saraf you need Ivan to explain that and i would be very interested on his opinion

[@danzaretsky7190]

Dude, you say "guys" the right amount. It is one of my favorite quirks of your personality...you need to keep it, and own it. This is part of what makes you cool. Don't listen to the haters that want to change you.

@ 7:20 so, if every computer only knows to whom he made the transaction to, what if one computer broke down (or its harddrive crashed) in the timespan between the start of the transaction and the upload to the blockchain? Wouldn't we loose critical information?

[@drwaldostanio]

Florian Knödl I have very similar doubts regarding lightning. did you get to find an answer to this question? thanks in advance

[@ahmadjabaly]

from my current understanding of how lightning works (which is incomplete) it wouldn't be any worse then losing your private key so there is no increased risk in having your transactions in lightning or the main network. and if one side loses all the information the other side can still get all there coins regardless.

[@drwaldostanio]

thanks for the answer أبو سامي the difference i see is that you could backup your private key but how do you backup your lightning wallet. i suppose wallets will come up with some method to maintain a backup of your offline tx

[@MrAndersJensen]

This was the third video I watched about the lightning network and the first explanation I actually understood. Thanks for a great explanation, with exactly the right amount of "guys" in it. Thank you! Anders

[@JIWC]

I don't believe saying "Guys" is being said too much. You are right, it does keep my attention.

[@IvanOnTech]

interesting, thanks!

[@35DONZI]

kids a fucking genius and hes teaching us say guy all u want broo..

[@gecn9685]

That's trivial Ivan. Just carry on with what you're doing. Content's gold.

[@nftreview]

So glad I found this channel, finally I can talk to someone who can give me technical responses. Keep up the great work!

[@IvanOnTech]

you're welcome man! glad you like it.

[@dragosdydy]

Just found your channel by searching about the Bitcoin Lighting. I haven't watched other videos so far, but I think the amount of "guys" during the video is fine. You said it a bit too much time in the closing remarks, but overall is fine :) Thanks for the easy explanation on LN. You got a sub!

[@Lbrin]

Thanks for the excellent content Ivan! and in my opinion the number of 'guys' was perfectly balanced!

[@IvanOnTech]

you're welcome! :)

[@GeorgeZolotorev]

Guys limit overdraft was reached in the introduction! :)

[@cbeck747]

The "guys" discussion is funny to me. I have specifically subscribed to you for the personal "guys" way that you bring my attention back to your topics. It makes me feel that you are reminding me and others that you are talking directly to me and us. I like it. Please don't stop. I feel that you will gain more audience members with this personal approach than you will ever lose. I love your content in all ways.

[@zeonae3239]

You are the best Ivan, I can hear you well and understand you easy, always on top. Best topics and news, no nonsense, straight talk, same as boxmining.

[@bgordski]

If you want to improve your excellent delivery sign up with Toastmasters. They have the "AH" counters or phases while one thinks. May be have a tighter script but you keep your videos short and cover your object well. Thank you

[@TheSirkarl101]

Ivan, It is very welcoming when you say "guys" Feels like being a member of your inner circle. I prefer it very much than most other greetings. With 77K followers you must be doing something right! Carry on young man. Is there a chance of the contacts in the Lightning Network being tampered with by intermediaries or by anyone else once initiated? Also, do you have a whiteboard as I am a visual learner! Thanks again!

[@claystone7729]

People get hung up on the dumbest things. You are fine I am interested in your topic and relevant information that will explain bitcoin and add to my life. Thank you for your video keep up the good work!

[@stevenhernandez8966]

If BTC were a highway, lightning networks would be local and privately owned roads. I think it's a great solution. Some worry it could cause some centralization, but a prudent person could reduce the effects of such centralization by carefully choosing the channels they enter, and by making opening and closing such channels efficient.

[@PetScreen]

don't worry about saying "guys", it's you. and it works, I start getting lost and you do make me focus again. great work👍

[@FabricioDeMarchi]

Guys is yout trademark! Do not change it. People are used to it and won't leave your channel because of it, at least shouldn't since it is not offensive. I am now used to look for your explanation in this market, keep up the good work! Greetings from Brazil!

[@Eduardo-ko4th]

i vote for more "guys"

[@Inunity2020]

“Let’s guys”, it’s not a big deal to me. Just appreciate your content. Keep up the good work. I’m definitely not technical, and you keep my attention. Your topics and questions are intriguing alone.

[@nigelhughes862]

Keep saying 'guys', it's your way of reengaging with us You're doing a fantastic job already

[@lasef247]

Great videos, love the technical analysis. You also seem very unbiased- please keep up the good work buddy.

[@queenjane1111]

You are a terrific teacher. Don't worry about saying guys. I actually took it exactly how you mean it, i.e. getting everyone's attention.

[@ChrisRoubekas]

Ivan great presentation of Lightning network. Very interesting and resourceful. Congrats!

[@noctisluciscaelum2245]

Hey Ivan I watched a lot of debates regarding lightning network and the scaling problem. One question that sticked with me, who will be in charge of the lightning channels. Is it the people, shops and the community or the big institutions? Blockstream published that miners won't be in charge of the lightning network instead liqudity providers will be. That means if the average joe can't affort to open up a channel with someone he needs to go to someone or something that provides enough liqudity. For now banks are in charge of the money. When we think about that scenario that banks are becoming the central hub of all bitcoin lightnight networks, we will not change the status quo and everything stays the same except we are changing the name from balance sheet to open ledger. From every transaction the liqudity provider will gater a small fee of the lightning channel and if banks are involved we will have heavy regulations and the posibility of charging taxes on every transaction on the blockchain and offchain. We will retain status quo and make it even worse. Banks will be the middle man of bitcoin. That scares the sh'' out of me. Any thoughts on that? Is this even a possibility? Am I missing something?

[@hodlersweekly9374]

Yeah, you've said it before, but I never paid that much attention to it until you brought it up...it doesn't matter how it's presented, as long as it's not distracting, which it isn't in your case...it's the message that matters.

[@jamcard]

Very clear explanation even without any image or writing... awesome

[@duudleDreamz]

Latest update from Lightning Network (mainnet): 27479 channels. Sum of channels value: 646 BTC and growing fast. So far so good. This could be a huge success.

[@freediverhd]

I love the "guys" ...........I vote to keep saying it!

[@Mrpjm200]

Rather than second layer solutions (like lightning network)- a much cleaner, decentralized, blockchain based solution would be to use digibyte for day to day transactions and then atomic swap back to BTC for savings. Surely this would be a much simpler solution for people to understand, as I think lightning network is too complicated for widespread adoption.

[@yesicaestefaniagarciamonsa8273]

Actually as long as your content remains the same quality wise, how you like to elaborate the language you are using is pretty much secondary... Just keep the high quality keep improving that way, that is what really matters!

One question... Opening a channel should be broadcasted to blockchain. This means, that it should be confirmed transaction on blockchain. Does it mean that opening a channel could take few days also? What about a fee for opening a channel? Or am I totally wrong? And regarding "guys"... content is all that matters. Keep up the good work!

[@adelarigue1910]

Hi Ivan you did great reducing the GUYS well done. I agree that you could say it less like in this show. Well done to make complex technical concepts to the mass however I believe that you could sometimes use diagrams and schemes to explain some quite complex concepts. There are some on lightening networks that are still too complex out there you could simplify them and make a round 2. These sidechain concepts will revolutionise bitcoin. BTW do you believe that new job and opportunities will arise from lightening the intermediaries and guys managing the channels will get some fees...this is way different from mining though. Any thoughts on that could be interesting. Keep going the great job!

[@laltXl]

Wouldn't a possible solution for protecting the blockchain from getting spammed by malicious channel openers be treating a channel opening as a transaction and require a small fee?

[@JesseGyger]

Or maybe requiring a small fee to be sent to the person you are opening the channel with that could send it back at the end?

[@laltXl]

This approach will only work if the addresses will be tied to real Identities in a one-to-one ratio, otherwise a spammer might open many addresses and pair them in such a way that he doesn't pay anything in total.

[@steveshomes]

You're doing a good job. Keep your format thanks for the videos

[@rawadrifai3451]

So 2 things: 1- I don't mind u saying guys, it's actually hilarious. I'm surprised no girls complained about the terminology. 2- I was hoping you would talk about double spend attacks. If transactions are off the chain, what's preventing someone from spending multiple times? Unless the lightning network keeps track?

[@laizessfaire7799]

Nice Video Ivan, i have a question : As I understand payment-channels, like the lightning network, they are working off chain (no record in the blockchain). The only record to the blockchain is the deposit transaction to open the payment-channel and by closing the payment channel. But later all the transactions inside the payment-channel running on centralized servers, like traditional bank transfers. This is very fast, and could be very cheap if there is competition. But how the banks, who would run such payment-channels can secure that inside the payment-channel the transactions are not hacked and safe? And how the bank guarantee the customers that they dont double spend the funds if inside the channel all transaction are totally anonymous?

[@PinchOfLuck]

Like you said, I only fear a malicious communication spam to the blockchain. It could cripple it. We need an intermediary, a cache of sorts.

[@busyjordy]

this is very well explained, how do I contact you in regards to doing an interview and talk more about it pls?

[@Anthony0fFire]

There's something I don't quite get with the lightning network. Say that I want to make a one-time micro-payment at a coffee shop. If I don't have an open channel with anyone else who happens to go there, I have to open my own lightning channel. This makes one transaction when I open the channel, and one more when I close it. Doesn't that make it two transactions instead of one for every similar micro-payment I try to do? Because I think that would be a pretty common situation.

Very good content but it would be better if you used a small white board to visualize stuff. Thank you!

[@uzername90]

MORE GUYS

[@wmr4463]

In America it's a colloquial word for male or female. Keep using it, it's part of your signature.

[@phoenixeyeris]

Dude.... you are awesome. Recent subscriber... and I'm not big on youtube subscriptions. I say talk however you feel it... whatever is natural. I don't think you say "guys" too much at all. Keep on keepin' on! Cheers!

[@amir-qi5wn]

keep up everything the way you are Ivan! It's perfect!!!

[@CryptoWyatt]

Yo Ivan, I thought of a solution to clogging up the lightning network. What if you had to make a down payment in order to broadcast a channel (a percentage of what you’re sending). What do you think?

[@MajikSo]

You are missing a crucial point of Lighting Network, namely, that hubs will be subject to regulatory procedures like KYC and AML. Also, that it will only make sense to open a hub for big financial institutions, read banks. Which is essentialy against the spirit of the founding fathers that created Bitcoin. Blockstream clearly is more focused their own product that they could sell to banks rather than keeping the development of Bitcoin in P2P spirit.

[@madaf3697]

Thanks Guys!

[@seraiahdaniella3755]

I like when you say guys, it makes the video seem personal

[@paulonisile6111]

Slightly remindes me of iota's tangle network. Everything can be connected but doesn't need to be directly connected. Wonder how it'll work in actual practice tho

[@Exposeyourself]

LOL TRY GIRLS!

[@Toni-Torcidas]

He mentioned smart contracts and multi signatur deals....does anyone know how the fees are planned to be to use those?? And the broadcoasting after 2 weeks of xxx transactions could be a half mb, depending on how many tx that are....could that lead to a similar problem we have now, that only 4 broadcasts all 10 minutes get aprooved?I am a novice and my english isnt the best, hopefully someone understands my questions.

[@cryptosaint5736]

'So I'm gonna stop saying it so much, let's get into it... guys.' : D

[@Nightlurk]

Blockchain is a fundamentally flawed system, and the one of the most important lessons you can get in system engineering is that trying to solve a problem with an underlying system by adding a solution layer on top of it, is a horrible idea which will come back and bite you in the ass later on. Adding a great deal of complexity to a system in order to compensate with a bunch of horrible fundamental flaws of the system itself is like strapping a rocket to the back of your SUV in order to try to make it into a racing car. So I think whoever is currently working on coming with a better alternative to blockchain are the people who are going to be the big winners of tomorrow, while the people that are trying to come up with new life-support methods for a terminally ill technology are going to find themselves in a dead end down the line.

[@adamlesser5064]

I'm predicting the guy rate / video to go up as the network effect kicks in..... but it might go down if people complain..... Or.... it could stay the same. Not sure really.

[@donaldmartin2563]

Keep saying guys...we love you just the way you are...don't change...

[@tralalalala368]

Great video. Didnt care about all the guys stuff but it was kinda funny tho how you tried to suppress it during the video but obviously couldn't lol, great!

[@vkas19]

Say "guys" or don't say it, doesn't matter, just keep your videos informative as they are! I have a question about the lightning network though. If you (A) send funds through your friend (B) to shop owner (C), B tries to steal/hack so you get your bitcoins refunded, what about C. I there is a chance C will not get his money, why should he accept this payment method? How is C protected to make sure he receives funds for something he just sold you? Love your videos, Vicki, Australia

[@vkas19]

I take my question back, point of lightning is transaction is verified and completed in 0 time like a bank card, so A cant walk away with goods until C has confirmed transaction.

[@davidgzesh5312]

love that microphone, very 1940s

[@jessyong3302]

Maybe i don't get it but lightning network doesn't seem that useful and unnecessarily complicates payments. Adding an additional option of normal broadcast or payment channel doesn't seem very user friendly. Then the payment channel is only useful if you are planning on making more than a few transactions to the same wallet. If it's a one off or you need to close the channel you still need to eventually use the blockchain. With a 1MB blocksize that's not going to be enough for mass adoption.

[@teqnkka4403]

Why is everyone neglecting the fact that LN could potentially start centralising bitcoin, by having hubs that control the way how are transactions occurring.

[@Dkeem86]

Hey Ivan if I use the lightning network will I be paying two separate fees? One to the central hub that im using in the lightning network and one to the miners when I close the channel?

[@marcelotemer]

Say as much "guys" as you like, my friend!!! Thanks for the great lessons!

[@truthseeker4490]

wat...I liked the way u say "guys"...keep it up

[@CharlesFinneyAdventure]

Great Video wished you would have covered CheckLockTimeVerify and CheckSequenceVerify features of bitcoin lightening and how we have to rethink money anew. I vote for intro tag in the beginning and a closing tag at the end and maybe a meta tag ="GUYS" in the background of the video.

[@CharlesFinneyAdventure]

BTW what do you think about crypto currency or lightning networks and linked data protocols

[@IvanOnTech]

+Charles Finney haha maybe Incan create t shirts with guys! Glad you liked it:)

[@CharlesFinneyAdventure]

On a serious note Thank you for your inspiring videos, they have helped me and my friends in Vienna develop our educational social entrepreneurship ICO white paper we would like to send it to you when we are done. still setting up our webpage, github etc. here in NYC, but we have a proposed pilot village in the Ukraine

[@DM-ud3gi]

Haha you say guys as much as you like Ivan, you have my attention. Love your work

[@veryA72]

VIDEO START AT 1:40

[@jorgesaragoca1131]

say Guys as many times as you want !!! who gives a shit what people say . i love you channel and love the information you teach thank you

[@stuartyoung1904]

I like you saying 'guys'. Don't suppress it.

[@iiiii655]

Lightning network and segwit absolutely necessary for Bitcoin future and will absolutely happen and when it does it will make Ripple look silly.

[@cryptocents]

What do you think about the lightning vs increase blocksize debate?

[@NeoKailthas]

Now i notice it when you say guys

[@Belleville197]

Hi... I'm a complete simpleton and know nothing about computers or crypto currencies... I have a small property with a garden plot, a chicken coop, an old pickup truck, and work as a pipe fitter and welder. What does all this mean for people like me? I've always distrusted the banking and monetary system and did my best to function independently of it. I'm all for 'democratizing' currencies and putting power back in the hands of the people so they can determine their destinies. If digital currencies grant people more autonomy and sovereignty, then great. However, what does all this mean for 'peasants' like me who are not involved in this digital world, and quite frankly, have no desire for it? Assuming digital currencies take over, I don't see what will stop the richest and most powerful people from acquiring the bulk of digital currencies simply because they have the most money to buy it, and/or invest in the computing power to mine it. Sure, some regular folk have jumped in and increased their wealth, but the vast majority of people have not. Furthermore, the success of digital currencies is being measured against already existing national currencies... everyone is celebrating because their digital currencies are worth more 'dollars' that can be used to buy tangible assets. Even if the currency is digital, life is still analog. I may just be a dumb welder, but I know that digital industries are heavily dependent on mining and oil. And is it true that a single Bitcoin transaction consumes enough electricity to power three average sized homes for 72 hours?! If so, how is such a resource intensive system of currency sustainable? It seems utterly wasteful to me that buying a pizza with Bitcoin would require dozens or even hundreds of times more energy than was required for the pizza itself. I'm not a naysayer against digital currencies, I just don't see how any system can fix problems that are predominantly psychological or 'spiritual' in nature.

[@jasonr4392]

Sup, I heard Litecoin is getting lightning network soon?

[@IvanOnTech]

hey, yes I've heard that litecoin is on their way and may be the first blockchain to implement this

[@radmilanikolova8935]

there is a two coins 1 bitcoin lightening BLT and lightning bitcoin lbtc witch one is good pls advice

[@danielmurphy123]

Keep saying "guys" lol I like it and totally understand why you do it.

[@NarayanGandi]

"Should I say less guys, or should I keep saying guys? But in this video we are going to say less guys... So let's get into GUYS!" xDDDDD

[@claystone7729]

When can we start this lightning network and lightning bitcoin?

[@SeverinLudwig]

Ivan on Tech First thank you, i was searching all the day for informations on Lightning and you made it easy to understand to me. Unfortunately what i didnt get to now, WHEN does lightning start on Bitcoin? What i understand is, that SegWit on 1st Aug was necessary for Bitcoin Lightning. On Litecoin it is already activated, right? Question open for anyone ;-)

[@mikegiangarra]

Don’t focus on what other people think, just do your own thing Ivan because clearly it’s working, so Fuck everyone else.

[@mikegiangarra]

Because saying guys too much is irrelevant

[@Tokyokio]

haha! you're sweet Ivan. I was too focussed on the actual INFORMATION you are giving rather than the "guys". Keep up your awesome job giving fantastic info to us (in a second language). OR why not change your GUYS for GIRLS instead!

[@boogied999]

Ivan, keep the guys up!

[@owlfrisky4570]

i never noticed it, your talking seemed fine.

[@deandekranis4286]

Keep saying "Guys" Ivan!! It is your trademark

[@nanonerd100]

Very surprised that you didn't speak to how it will probably play out, especially with respect to the creation of HUBS. Also, that the Hubs will probably charge some nominal fees. Furthermore, you barely mention, finally towards the end, that each time a payment channel is opened or closed (actually, u only mentioned one side), that a transaction has to go on the BTC blockchain. The transactions fees need to come way way down for it to make sense whereby ppl will open and close channels often.

[@hyatguy]

"Guys" is very you. You being you works very well...

[@THEREALDATALORD]

You should say "HEY YOU GUUUUUYSSS!"

[@kidlatmatalim8759]

When lightning strikes we'll have the holy trinity of coins. Btc ltc and vtc.

[@LightProgramming]

Im abit confused, Is this on the market? can i invest?

[@MelroyvandenBerg]

"Main stream?" You mean centralized to the Banks and Bilderberg Group? Because these 'nodes' (I call them banks), need enough BTC funds to be able to send/receive money between the users.

[@MelroyvandenBerg]

Maybe a next video not about explaining the Bitcoin Lightning Network. But about the impact of rolling out such a network. What are really the cons here...? Why not just increase the blocksize, like bitcoin cash?

[@michaelharings9913]

less guys, more peanut butter.