Private banks over The Lightning Network (2022) \ stacker news ~bitcoin

Private banks over The Lightning Network (2022)open.substack.com/pub/darthcoin/p/bitcoin-private-banks-over-lightning

413 sats \ 2 comments \ @TNStacker 5 Jun bitcoin_beginners

zaps forwarded to @DarthCoin (98%)

42 sats \ 1 reply \ @south_korea_ln 6 Jun

I think sharing each of Darth's guides, one by one each day, with a relevant quote and summary, would not be such a bad idea... so much alpha (that's what the crypto guys call it in a group chat I am part of) that needs more eyes on it.

42 sats \ 0 replies \ @south_korea_ln 6 Jun

Henceforth, a quote.

INTRODUCTION

This guide is a bit more special because I will try to present a real use case scenario for many new Bitcoin and Lightning users. Is a use case to help more people to onboard easy with Bitcoin, in a more private manner. Is the main case of “Uncle Jim” that is helping his local community with his knowledge, skills and… LN liquidity.

This guide IS NOT about “earning yield” with your LN node!

Why I would write such guide for such use case scenario? Because most of the people need banks, but not fiat banks. They need Bitcoin Lightning Banks, because not anybody will be capable to run their own routing node, many also will don’t want it. This is where “uncle Jim” model come into place. And is needed. This is the start for building The Bitcoin Circular Economy.