Oddly enough, the ping works even after it's deleted

@RaghavSood looks like we were racing to an answer again :p I think yours reads a little more

I was in math, lecture wasn't particularly engrossing :P

Just replied to your comment

clearly though. I hadn’t realized mempool entries dropped utxos before, thanks for the info!

I wasn't aware that pruned nodes prune the UTXO set as well, actually

I though they just pruned the blockchain history

Ah, I’m on mobile, and the ‘return’ key is right next to ‘space’. Hence my scattered messages in here :/

I always sort of assumed it made a "checkpoint" utxo set before pruning a batch, and then updated that with it's local pruned data as it flows in

Hmm actually now I’m double guessing myself, I’m gonna look that up quick.

But I have no evidence to back that up

@RaghavSood ack, yea my answer is incorrect, pruning doesn’t affect utxo, I seem to have mixed that up with the txindex option... this is what I get for looking at SE first thing in the morning :’(

Kinda a silly mistake, glad to catch it

Haha, happens to the best of us. So many different thinks are tracked in this world.

Where'd you look that up?

I've never been able to find a good source for this stuff, usually default to reading the code

Which is kinda slow

Umm combo of common-sense reasoning, and mastering bitcoin I guess. In order to validate new blocks, a node will need the utxo set.

Fair point

From mastering bitcoin pg 41: prune (as a config file option): reduce disk space requirements... by deleting old blocks

I really should buy a copy of that book

So expensive to ship to NZ tho

Also on pg 41, txindex relates to storage of the raw transaction info. Default is only txs relating to the users wallet. txindex=1 stores raw data of all txs

Well, the text is online for free, which has the added bonus of being ctrl+f-able. But it is nice to have a hard copy I suppose

I see little reason to not support Andreas' work, just need to figure out how to buy it here

Legitimately, watching one of Andreas’ videos on YouTube many years ago was the moment it all started to click for me, and finally make the move to try buying and using bitcoin for the first time. So I guess I’m happy to support his work :)

^ha, yea, exactly. NZ shipping must be a pain though! I think my copy came through amazon, it was actually a gift so I’m not entirely sure of the cost (maybe I should rephrase the above... I’m happy someone else supported Andreas, in the name of a gift for me? Hehe)

I'll probably buy it from the US/UK and ship to SG and pick it up when I'm there next month

Hmm different topic, but what’s with LN naysayers claiming the LN will lead to a system analogous to fractional reserve banking? I’ve been trying to understand the reasoning, but just don’t get it. I’ve tried asking people that hold this view,

but no replies. It makes

me think they’re overstating it, FUDing, if you will

from what I gather, the idea is that big LN hubs will form and act as custodial service providers, and that they can overland their reserves, by colluding with other big hubs

but it seems that would only work insofar as users transact within the network of colluding hubs... ie not actually on LN

so the argument could apply equally against custodial bitcoin hubs, I think

(And I don’t think it’s a good argument)

Hmm, I'm not convinced

Fractional reserve would imply that you can spend more BTC within the LN than was committed to it

Which, to my knowledge, is not possible, since each channel is backed by an on chain tx

One somewhat plausable argument I've seen is that as on chain fees rise, LN could be used to exploit microtransactions. Some merchant can commit fraud, but the cost to get your BTC back via an onchain tx would be higher than the amount of BTC lost, so they'll effectively get away with it

Hmm but if someone broadcasts an old tx, and then you broadcast a more recent one, isn’t the resolution that all funds are paid out to you? So the only channels at risk would be those with a total capacity lower than the current on chain fees

Unless I’m misunderstanding how disputes are settled on LN

@chytrik Hmm, you may be correct

Seems like I had my closing wrong

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