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

 
 

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“We have Lightning, and Lightning is Bitcoin. And Lightning does millions of transactions per second, instantaneously, with finality of settlement. They’re irreversible; there’s no mining, there’s no blockchain. And if this sounds like magic, it absolutely is… so it obliterates the use case of every shitcoin in the world, and it kind of obliterates the legacy financial rails as well.”
— D++

SHOW DESCRIPTION

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.

TIMESTAMPS

00:03:43: Introductions
00:11:42: The origins of Plebnet
00:17:09: How to join Plebnet
00:19:35: Lightning node
00:21:31: BlueWallet
00:24:47: The Lightning Network - a clear explanation
00:28:45: Banking the unbanked with Bitcoin and Lightning
00:30:20: DeFi centralisation
00:32:11: Earning yield on Lightning nodes
00:36:14: Muun Wallet and submarine swaps
00:40:23: Lightning Network vs on-chain transactions
00:43:31: Fee market FUD and L2 solutions
00:47:11: Shitcoins want your Bitcoin
00:53:36: Web 3.0 narrative
00:56:12: Lightning node vs basechain node
00:59:29: Scaling Bitcoin and MiniMint
01:04:15: El Salvador and further nation state adoption
01:09:23: Bitcoin Conference 2022
01:12:26: Final comments

 

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SHOW NOTES

Connect with P:

Connect with D++:

Mentioned in the interview:

Other Relevant WBD Podcasts:

PodcastPeter McCormack