What Bitcoin Did

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

Peter McCormack

Interview | Description | Timestamps | Show Notes

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

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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.

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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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