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In addition to the question in the title, when will Lightning Network go online, or, if there isn't a proposed date yet, what is a ballpark indication of when it might go online?

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pros:

  • Lower Transactions Fees
  • More Transactions per second / block possible
  • micropayments possible
  • payments are more private than on bitcoin

cons:

  • funds are on a hot wallet
  • (at least currently) node needs to be online all the time
  • still somewhat buggy
  • (at least currently) only small amounts can be routed

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