Denis Gorbachev [ARCHIVE] / is on Nostr

⚠️ This account is not associated with a real person. It's an archival account for mailing list messages.
🗓️ Active from 2015-12-13 to 2015-12-24
💬 Posted a total of 8 messages
📚 Participated in the following categories: Lightning-dev
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Last Notes

2023-06-09 12:45:30

- reply

📅 Original date posted:2015-12-24
📝 Original message:
Hi John,
You've brought up a *very* important topic.
If we could lower the capital requirement, we'd lower the barrier for
people wishing to run a Lightning Network node.
Here are some thoughts:
- The trust-based system you're proposing looks like a
fractional-reserve banking system.
- Such fractional-reserve hubs will provide lower transaction fees
(because of lower capital requirements) — so the idea is worth pursuing.
- I have the same feeling that it should be possible to design a
proof-of-solvency.
If we could design a proof-of-solvency, we could replace the existing
fractional-reserve system. This is kind of a big deal.
So let's connect on Skype (I'll send a personal email). Anybody wants to
join the discussion?
P.S. Your writing style is very accessible - keep it up.
--
@DenGorbachev <https://twitter.com/DenGorbachev>
--
@DenGorbachev <https://twitter.com/DenGorbachev>
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2023-06-09 12:45:29

- reply

📅 Original date posted:2015-12-16
📝 Original message:
Rusty, Mark - thanks for the explanations!
On Wed, Dec 16, 2015 at 10:49 AM Mark Friedenbach <mark at friedenbach.org>
wrote:
> It should be noted that this estimation is biasing towards
> worst-case-latency/best-case-decentralization. Even though we will make
> conscious efforts to keep lightning networks as decentralized as possible,
> it is still the case that we will see some centralization pressure due to
> the desire for low latency transactions. I expect that the average user's
> experience of a 10-hop payment would be on the order of 1-2 seconds, with
> the inner-hops being between Tier-1 datacenter nodes primarily with payment
> channels chosen based on network proximity. A 'near' payment to someone
> closer to them would be under a second. But it is very good to know that a
> network consisting entirely of last-mile endpoints geographically
> distributed around the world would only have a worst-case transaction time
> of only about 10s or so. Even that is doable for PoS.
>
> On Wed, Dec 16, 2015 at 8:04 AM, Rusty Russell <rusty at rustcorp.com.au>
> wrote:
>
>> Denis Gorbachev <denis.d.gorbachev at gmail.com> writes:
>> > Assuming a simple case of "Consumer - Relay - Provider" (2 hops), how
>> long
>> > should it take for provider to receive the payment?
>>
>> Assuming established channels already (assuming CPU is instant, so we're
>> just paying for network latency):
>>
>> Consumer offers Relay a contract:
>> C -> R: update_add_htlc
>> R -> C: update_accept
>> C -> R: update_signature
>> R -> C: update_complete*
>>
>> Relay offers Provider a contract:
>> R -> P: update_add_htlc
>> P -> R: update_accept
>> R -> P: update_signature
>> P -> R: update_complete*
>>
>> Provider closes contract with relay:
>> P -> R: update_fulfill_htlc
>> R -> P: update_accept
>> P -> R: update_signature
>> R -> P: update_complete*
>>
>> Relay closes contract with Client:
>> R -> C: update_fulfill_htlc
>> C -> R: update_accept
>> R -> C: update_signature
>> C -> R: update_complete*
>>
>> You don't need to wait for the update_complete packets to arrive, so
>> that works out to 3 RTTs per hop. You might expect up to 10 hops in a
>> large lightning network, so 30 RTTs.
>>
>> I'm in Australia, and my bitcoin node latency averages 330ms (ouch!).
>> So that would be 10 seconds.
>>
>> Hope that helps!
>> Rusty.
>>
> _______________________________________________
>> Lightning-dev mailing list
>> Lightning-dev at lists.linuxfoundation.org
>> https://lists.linuxfoundation.org/mailman/listinfo/lightning-dev
>>
> --
@DenGorbachev <https://twitter.com/DenGorbachev>
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2023-06-09 12:45:28

- reply

📅 Original date posted:2015-12-15
📝 Original message:
Assuming a simple case of "Consumer - Relay - Provider" (2 hops), how long
should it take for provider to receive the payment?
--
@DenGorbachev <https://twitter.com/DenGorbachev>
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2023-06-09 12:45:24

- reply

📅 Original date posted:2015-12-13
📝 Original message:
Mark, Lawrence: yes, agree on both points. So there will be:
1. Endpoints (consumers + providers)
2. Relays (the LN nodes I was talking about - sorry for putting them in the
same basket with endpoints)
Endpoints need to be integrated into wallets.
Relays need to be standalone, with their own management console.
Correct?
On Sun, Dec 13, 2015 at 4:20 PM Lawrence Botley <lawrence.botley at gmail.com>
wrote:
> Mark: I think your approach is best, putting the effort into an RPC
> interface leads the way for agnostic web clients with OTP as standard.
> yubikey support would be great.
>
> On Sun, Dec 13, 2015 at 6:38 AM, Luke Dashjr <luke at dashjr.org> wrote:
>
>> On Sunday, December 13, 2015 2:08:47 AM Denis Gorbachev wrote:
>> > Are you talking about the wallet integration or LN node management?
>>
>> I don't see a distinction. Why wouldn't every wallet be a LN node?
>>
>> > Suppose you are running an intermediary LN node. You want to compare
>> your
>> > fees for current month VS previous month. You can do that with command
>> line
>> > (dump the logs, parse them, etc) or you can do that with GUI.
>>
>> Seems to me reports on various transactions would be a useful feature in
>> general, not necessarily tied to LN.
>>
>
>> Luke
>>
>
>> _______________________________________________
>> Lightning-dev mailing list
>> Lightning-dev at lists.linuxfoundation.org
>> https://lists.linuxfoundation.org/mailman/listinfo/lightning-dev
>>
> --
@DenGorbachev <https://twitter.com/DenGorbachev>
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2023-06-09 12:45:24

- reply

📅 Original date posted:2015-12-13
📝 Original message:
On Sun, Dec 13, 2015 at 1:39 PM Luke Dashjr <luke at dashjr.org> wrote:
> On Sunday, December 13, 2015 2:08:47 AM Denis Gorbachev wrote:
> > Are you talking about the wallet integration or LN node management?
>
> I don't see a distinction. Why wouldn't every wallet be a LN node?
>
Because there's a risk of being hacked.
As I see it, running a node is a business. It's not like putting your money
in a bank and forgetting about it, because you need to run a server 24/7 or
be out-competed by other nodes. Running a server means having to deal with
security & updates. Is that correct?
>
> > Suppose you are running an intermediary LN node. You want to compare your
> > fees for current month VS previous month. You can do that with command
> line
> > (dump the logs, parse them, etc) or you can do that with GUI.
>
> Seems to me reports on various transactions would be a useful feature in
> general, not necessarily tied to LN.
>
Yes, you're right - thanks for pointing out.
>
> Luke
>
--
@DenGorbachev <https://twitter.com/DenGorbachev>
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2023-06-09 12:45:23

- reply

📅 Original date posted:2015-12-13
📝 Original message:
Luke,
Are you talking about the wallet integration or LN node management?
Suppose you are running an intermediary LN node. You want to compare your
fees for current month VS previous month. You can do that with command line
(dump the logs, parse them, etc) or you can do that with GUI.
Two questions:
- Is this a real use case?
- Why not implement it as web application that connects to LN node backend?
On Sun, Dec 13, 2015 at 8:30 AM Luke Dashjr <luke at dashjr.org> wrote:
> On Sunday, December 13, 2015 1:03:12 AM Denis Gorbachev wrote:
> > Hi everybody,
> >
> > Do you think it's a good idea to write a GUI for LN node management?
> >
> > Which features would you like to see there?
>
> I would like to see it transparently supported in Bitcoin Core GUI, using
> an
> external library.
>
> Luke
>
--
@DenGorbachev <https://twitter.com/DenGorbachev>
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2023-06-09 12:45:23

- reply

📅 Original date posted:2015-12-12
📝 Original message:
Hi Greg, thanks for encouragement :) What's the most important thing you
want to see in the GUI? Like, where should I start?
On Sun, Dec 13, 2015 at 8:07 AM gb <kiwigb at yahoo.com> wrote:
> On Sun, 2015-12-13 at 01:03 +0000, Denis Gorbachev wrote:
> > Hi everybody,
> >
> >
> > Do you think it's a good idea to write a GUI for LN node management?
> >
> Yes.
> >
> > Which features would you like to see there?
> > --
> All of them.
> >
> > @DenGorbachev
> > _______________________________________________
> > Lightning-dev mailing list
> > Lightning-dev at lists.linuxfoundation.org
> > https://lists.linuxfoundation.org/mailman/listinfo/lightning-dev
>
>
> --
@DenGorbachev <https://twitter.com/DenGorbachev>
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2023-06-09 12:45:22

- reply

📅 Original date posted:2015-12-12
📝 Original message:
Hi everybody,
Do you think it's a good idea to write a GUI for LN node management?
Which features would you like to see there?
--
@DenGorbachev <https://twitter.com/DenGorbachev>
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