Close Menu
    Cryptocurrency

    Big Bitcoin Breakthrough (Splicing)



    Learn to build a secure Bitcoin vault:
    https://www.bitcoinuniversity.com/courses/76599-the-ultimate-guide-to-bitcoin

    In this video, I discuss how splicing can make it easier and less expensive to rebalance Lightning payment channels, while creating more fungibility between BTC on-chain and BTC on Lightning.

    Splicing is the ability to add or remove sats from a Lightning channel using sats from another Lightning channel or from on-chain– all without needing to close and reopen the channel, which costs more in transaction fees and waiting time.

    Not investment advice! Consult a financial advisor.

    Lightning Network live map:
    https://mempool.space/lightning

    Muun and submarine swaps:
    https://blog.muun.com/a-closer-look-at-submarine-swaps-in-the-lightning-network/

    More on splicing with Dusty Daemon and Stephan Livera:

    SLP490 Dusty – What is Splicing and why will it improve LN? 

    Follow Dusty Daemon on Twitter:

    Donate to OpenSats:
    https://opensats.org/

    Phoenix wallet is adding splicing:

    I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

    #Bitcoin
    #splicing
    #lightningnetwork

    Disclaimer
    Neither Bitcoin University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video, on this YouTube channel, or at www.Trader.University or www.BitcoinUniversity.com (henceforth, “the Sites”) should be construed as such by you. This video, channel, and the Sites should be used as educational tools only and are not replacements for professional investment advice. Trading or investing in new and volatile assets like Bitcoin can be risky.

    View 47 Comments

    47 Comments

    1. Bitcoin University on

      WARNING: There are a number of scammers who are using my image and
      channel name to try to connect with my viewers on WhatsApp and other
      platforms to scam them. Just so you know, I will never refer you to
      "my personal trader" or try to connect with you personally to sell you
      something. I am trying to ban these scammers as quickly as they pop up. You can
      always recognize a scammer by clicking on the image and seeing how
      many videos he has. All of these guys have zero videos, while I have
      hundreds. I also now have a checkmark next to my name, so that you can distinguish the real Bitcoin University from the imposters. Follow me on Twitter @mattkratter

    3. vake on

      Really looking forward to splicing being introduced into Phoenix Wallet. The line between on-chain and LN bitcoin will start to get blurred since it'll be so easy to move back and forth.

      There's also a bunch of other improvements coming to Lightning:
      1. BOLT 12: can create a static invoice that generates new receive address for each send. You can also create BOLT 12 invoices for withdrawals, not just sends.
      2. Prisms: can automatically split payments and forward them to others on a % basis. Would work very well for a business that has to pay suppliers.
      3. Peer-to-peer encrypted backups: channel states are automatically backed up by your counterparties, meaning if your node goes down, you don't lose all your channels.

    5. SatWise Janx on

      I'm in the Phoenix beta program and enjoying the reduced fees of splicing today. In my opinion this is the best non-custodial hot wallet and I use it like a checking account with my savings in cold storage

    6. Python E.G. Account on

      Great to see this topic being discussed. I've been using phoenix beta 4 and the LN to on-chain splice-outs have been working great so far:- no issues. However, receiving LN payments cost at least as much as on-chain payments, if not 2 to 3x, which is disappointing. Far from "a penny per transaction".

    9. Antonio Chiabrando on

      Matt, I would love to hear your view about Peter Zeihan's claims in his criticism of a gold backed currency that a finite money supply would inevitably bring "monetary inflation", himder economic activities and eventually cause an everlasting economic depression. He did not mention Bitcoin in his video but the same principles would clearly apply to a Bitcoin only economy.

    12. sharpenedge on

      I'm a maxi, but I'm still struggling to get my head around how LN won't end up being heavily censored in a high fee environment.

      Assume I don't want to KYC myself, and LSP Node A says "I'll only open channels with KYC verification" and I need to transact with someone (like my local food providers) who relies on LSP Node A, then I'm effectively blocked from transacting. Yes, I could open channels with others, but if fees are preventatively expensive and I need to buy food NOW, I'm kind of forced to KYC myself and have my activity monitored.
      What am I missing? 🤔

    25. 21de22 on

      Web3 Ignite IGNITE3 is the safest altcoin ever since its automatic algorithms stop paper hands, bot transactions, and bear markets. It will certainly reach $10 in no time.

    28. Op Bolte on

      Web3 Ignite IGNITE3 is the safest altcoin ever since its automatic algorithms stop paper hands, bot transactions, and bear markets. It will certainly reach $10 in no time.

    38. Dustin Worth on

      Have you heard Jason Lowery’s thesis on bitcoin use case for national defense? His book, Softwar, was removed from the market, presumably by the US government.

      Part 2: In my own mind, I can imagine the US government having issued bitcoin under a pseudonym, calling it financial technology, while the actual intent was to incentivize the world to create a security network, of which the US gov has the largest stake from the beginning. Still trying to ration this all out after recently hearing Lowery’s ideas…

    42. Edward C. on

      I'd like to hear your view regarding the vast amount of monies channeled to bitcoin 'facsimiles ' like BTF and BITO possibly diminishing demand for real bitcoin.

    44. Mike on

      Hey Matt, big fan of the channel. What are your thoughts on BTC layers like Stacks that are aiming to bring defi to BTC? I personally wonder if the use of their own token (STX) is necessary, but transactions settling on the BTC network is definitely what we want for BTC.

    45. Youtube Admin on

      Matthew, good stuff. Im going to try to get you posted on creator on the rise. Please do a little more editing, music, sound effects, transitions and etc. It will help me plead your case.

    Leave A Reply
    Share via