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--- crypto:bitcoin_guide [2026/01/01 02:33] – deathrequiem
+++ crypto:bitcoin_guide [2026/01/01 02:38] (current) – deathrequiem
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 Every 210,000 blocks (roughly every 4 years), the reward given to miners is cut in half. This is called The Halving. It ensures that Bitcoin’s total supply of 21 million is released slowly over time, ending around the year 2140.
-  * **##Bitcoin Lightning Network##**
-The **Bitcoin Lightning Network** is a "Layer 2" scaling solution. If the main Bitcoin blockchain is the slow, high-security vault of a bank, the Lightning Network is like the cash in your physical wallet that you use for daily coffee and small purchases.
-It was designed to solve Bitcoin's biggest hurdle: **Scalability**. While the main Bitcoin network can only handle about 7 transactions per second, Lightning can theoretically handle millions.
-  * **##How it Works: The "Bar Tab" Analogy##**
-The best way to understand Lightning is to think of a **Bar Tab**:
-  * **The Old Way (On-Chain)**: Imagine if every single time you ordered a beer, you had to call your bank, wait 10 minutes for them to approve the $7 charge, and pay a $5 service fee. You’d never buy a beer that way.
-  * **The Lightning Way (Off-Chain)**: You open a "tab" at the bar. You show the bartender you have money (this is the **Opening Transaction** on the blockchain). Now, you can order 10 drinks instantly. The bartender just scribbles a note on a napkin each time.
-  * **Settlement**: At the end of the night, you "close your tab." You pay the total once, and only that final result is sent to the bank (the **Closing Transaction** on the blockchain).
-  * **##The Technical Mechanics##**
-  - **Payment Channels**
-To use Lightning, two parties open a Payment Channel by committing an amount of Bitcoin into a "2-of-2 multi-signature" wallet. This is the only part that touches the main Bitcoin blockchain initially.
-  - **Off-Chain Transactions**
-Once the channel is open, the two parties can send Bitcoin back and forth instantly and for virtually zero cost. These are essentially just private, digitally signed promises that update the balance of who owns what within that channel.
-  - **Routing (The "Network" part)**
-You don't need a direct channel with everyone you want to pay. If Alice has a channel with Bob, and Bob has a channel with Charlie, Alice can pay Charlie by "routing" the payment through Bob. The network automatically finds the fastest, cheapest path.