Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Technical Discussion => Topic started by: hugeblack on September 21, 2024, 05:37:50 PM
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What are your opinions about this idea, which can be found here --> https://delvingbitcoin.org/t/privately-sending-payments-while-offline-with-bolt12/1134 (https://delvingbitcoin.org/t/privately-sending-payments-while-offline-with-bolt12/1134)
In short, it is a way to generate authentication tokens so that when you are offline you can provide them to your always-online node or LSP and withdraw the amount.
(https://talkimg.com/images/2024/09/21/gE24w.png)
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This is much like Lisa Simpson's anti-tiger stone.
So, how about this down to earth scenario:
1. Buyer arrives in a foreign land and can no longer connect to the internet.
2. Buyer needs to make payment for the food.
3. Seller’s point of sale device wants to accept payment and has an internet connection.
4. Seller opens a hot spot and the buyer gets internet for its smartphone
5. Seller’s point of sale device receives the payment and seller provides food.
6. Buyer eats.
They are seriously investing an insane amount of time and energy trying to fix 0.0001% of situations, the chances of not having internet, having only bitcoins available, the seller having internet and not giving you 10-second access are about 1000 slimmer than your node back home restarting or crashing or our internet shutting down which would make all this scheme useless.
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This looks too much extreme for our privacy and I would better keep a secondary wallet for daily TXs over this kind so that I won't have to depend on anyone and also can run our own node without disturbing things it remotely. :D
I mean I get it kind of helpful for someone who wants to stay absolute private with their spending but those kind of people are really less.
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I think off-line situation is so uncommon nowadays that I think few people would use solutions for that rare cases.
For daily use cases, I just keep a few btc in my mobile wallet. I have now about 200 usd in my mobile phone.
it is a handy solutions for many situations I faced in the past. Like traveling abroad and needed more money, or just for a quick transfer to some service related to the forum
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I also think that offline payment solutions are not widely used even though they provide a high degree of security but most people are too lazy to do these steps which are considered complicated for many of them. Some lazy people bought shares in Bitcoin ETF companies to get rid of the burden of holding Bitcoin themselves.
Personally, I prefer such offline solutions especially after my wallet was hacked in the past, so creating offline transactions would be very useful in a case like mine where my internet-connected device could be hacked due to weak Windows security.
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Why so many invreq_payid messages computed? There is no concept of unspent transaction outputs on Lightning Network, so the whole balance appears as one amount. This is just for statically computing all the paths (routes) the payment can be sent through, and a sort of pre-authorization that allows it to be done that way. Sort of like a signed transaction that isn't broadcasted.
But the abundance of payids is the only thing I don't get from this.