I'm not toooo excited... Lightning's problem is that withdrawing from an exchange already requires the in-bound liquidity, which isn't suited to the DCA model that most stackers use exchanges for. Kraken already has Lightning and I seldom use it TBH. I believe Binance does too.
I think maybe Coinbase's adoption will encourage online vendors to accept Lightning, though, which to me is a win.
it’s huge for the entire Lightning ecosystem, arguably the biggest piece of good news for Lightning all year.
it’s amazing how basically every other comment on this thread is a negative one… i don’t understand how anyone could possibly interpret this as bad news.
lol same. This is fantastic news because it means Coinbase has finally stopped wasting time "working on integrating lightning" and decided to pay someone more competent to build it for them. Great news for Coinbase users. Amazingly good news for Lightspark. Reality check for stacker news users: there are more bitcoiners on coinbase than any other service in the USA.
I don't understand how you think I, or anyone else, could stop users from using Coinbase. Do you believe in individual choice? You sound like an authoritarian.
Coinbase users hate using bitcoin because it is slow and complicated. Bitcoin has a super shitty UX. This drives people to use shitcoins and centralized platforms. I have talked to multiple people who share this opinion. Lightning makes bitcoin fast, still kind of a shitty UX tho. We'll see how Lightspark can improve on this.
This news MIGHT represent a step function improvement in the bitcoin ecosystem. If Lightspark can nail this (I think they can) it opens the floodgates to institutional lightning adoption. Big companies will start integrating lightning in big ways and we will finally start to see the beginnings of mass adoption. Take your blinders off, bro. Look at the big picture.
This is such BS, many jurisdictions has stated layer 2s like lightning are outside of the travel rule. This is a narrative lightspark are pushing for their own greed and the destruction/damage of the network as a whole.
Are you in Bitcoin from yersterday?
You really don't know who is Conbase and what they trying to do?
You really don't know who is LightSpark and what they are trying to do?
cmooon
Maybe they can fool some noobs that enter into Bitcoinlandia today, but not old bitcoiners.
People should stop using Coinbase at all !
I really do not understand why people still uses that trap!
Good point. Everyone, no matter where they are in their journey with Bitcoin, should have every right to access lightning. Binance has integrated it much before and people loved that instantly.
Had me thinking about one that was located in Gibraltar and offering custodial solutions to accredited investors. I see the same problem with gold investment vehicles, which seems to be the exact analogue to how 'investors' trust the institution, the regulation, and it tracks the price of the underlying asset. The smaller the investor, the less the likelihood to take physical ownership, as with ownership of keys.
Always follow the money and look into their past... Why people do not simply read ?
Ask yourself: Who is Lightspark? What is their goal? Who is pushing their agenda? Why do you see these news all over now?
QUESTION EVERYTHING. Not just accept everything you see in your news feed.
David Marcus leaves Facebook after failing to do a shitcoin (it was called Libre afaik) and starts Lightspark. In Lightspark they build a regulator happy product that they then sell to Coinbase (and presumably other regulator happy businesses). I'm not sure if this is good or bad news.
And before that "In December 2017, Marcus was appointed to the board of directors of the cryptocurrency exchange, Coinbase" friends doing trades pumping marketing campaign to get traction for a bad protocol (UMA).
Who cares? I left coinbase with a few bucks of shit years ago when they suddenly and abruptly closed their app in my country for nonsense reason. They are worse than every other platform. They will fuck lightspark as they do with every other integration. Also they are now pawns of Government and authorities.
This is just more gaslightning IMO. Coinbase has dragged their feet on lightning for years and now they finally kick it to an outside firm? Pathetic. Probably will be another year+ before actual integration.
i spoke with someone on their team last fall (after they announced their intention to support Lightning), and they did estimate early 2024 for an integration.
i’ll take the under on 1 year to complete the integration.
They made an announcement simultaneously with Binance and they are fine so far because Binance has bigger issues. Their business scales are comparable.
A company like Coinbase... with "soo" many years in the field, need to "partner" with an small company to implement LN? It's just a smoke screen to help some friend/s inside lightspark.
They're the biggest exchange that hasn't been brought down yet for laundering fraud etc so I give them some credit for doing something right... probably they had other priorities expanding their business to custody for ETFs etc.
UMA = Take a beautiful bitcoin flow (LNURL) and put (copy) all the Visa/Mastercard shit on top, pump with smoke screen (marketing/buy integrations) and sell this "new fantastic protocol" to maintain the same system.
So Coinbase spent two years trying to figure out how to integrate lightning. Put a guy in charge, who knew nothing about lightning and tweets about tokenizing the world on ethereum, and then simply partnered with lightspark in the end. That company really is a clown show.
An exchange devoted to shitcoins forced to renounce to exorbitant onchain fees due to social pressure is extremely good news. Lightning is getting too big to be ignored.
I know there are drawbacks, but it is happening anyway. They could have an incentive to make better tooling to prevent loss of sats during channel maintenance and force closures. They could improve metrics. Just being a devil’s advocate I know.
I guess it's good that Coinbase makes the jump to the Lightning network, but I don't like Coinbase or what they are, but hey, at the end of the day I think the news is more good than bad.
Did you read this? #78930
You have to be a real IDIOT to still use Coinbase today.
How much damage must be done by Coinbase until people will realize it?
When is "enough"?
I'm going to read it now, I've never been a Coinbase customer, nor do I plan to be, but I don't have that much information about them either, I just know who they're allied with.
When a bitcoin OG (with 12 years in Bitcoin only) is telling you that Coinbase is the enemy of Bitcoin, what would you say? Oh, "is nice for Bitcoin" ?
I've seen all the fucking garbage they've done all these years.
Okay I just saw that Lightspark uses the travel rule bullshit, now I understand better, but I still had no intention of using Coinbase, I've been on BTC for 5 years and I haven't used it yet, nor do I currently use any centralized exchange.
What a shit coinbase is to base their BASE without any base, BASELESS!