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Sounds very useful: „Ark addresses the [Lightning] challenges by utilizing trustless servers, allowing Lightning users to mitigate the difficulties typically encountered with operating Lightning infrastructure.“ It’s great to see that HNW individuals like Draper, nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5m or nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m put money and efforts into improving Bitcoin and its usability. #Bitcoin

Draper has a bad rep. Jack and Saylor are great.

Why has Draper a bad reputation?

Shit coiner, among other things

What other things? That he is also investing in other stuff that Bitcoin is nothing that gives rise to a bad reputation imo.

so they are developing the whole thing for a testnet? IIRC ARC needs a fork of bitcoin core, right?

No. This will be live on mainnet soon. Covenants can make it better but it doesn’t require a fork

without covenants and instead being built on top of lightning this seems to be competing directly with cashu. another example of FOSS vs VC money hacking. 🧐

it doesn’t compete with cashu and it’s not built on top of lightning

that sounded pretty much like they are using LN 🤷🏻‍♂️: ------------------------- Initially conceived as an alternative to the Lightning Network, Argentieri emphasizes that his company’s immediate focus is on supporting the adoption of Bitcoin's popular Layer 2 solution. "Lightning has made tremendous strides recently,” he said. We believe we can leverage this network effect to bring Ark to market and enhance the self-custodial experience for existing Lightning users." Ark addresses these challenges by utilizing trustless servers, allowing Lightning users to mitigate the difficulties typically encountered with operating Lightning infrastructure. A recent trend in reducing the costs of on-chain operations related to liquidity management has been to rely on custodial or federated options such as the Liquid sidechain. ------------------- ...anyway. I'll wait for more clarifications.

Sooo... all these six sentences described the fact that they offer swapping your lightning sats for VTXOs? 😄

Press Releases are for the masses and a broader public. Nobody ever heard of Lightning or VTXO in our small bubble of stingy maxis

*outside of our small bubble