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  <title>ln.university</title>
  <subtitle>Learn Lightning from people who run it.</subtitle>
  <link href="https://ln.university/feed.xml" rel="self"/>
  <link href="https://ln.university/"/>
  <id>https://ln.university/</id>
  <updated>2026-08-22T00:00:00Z</updated>
  <author><name>Delta Gamma LLC</name><uri>https://dlgm.co</uri></author>
  <rights>Prose CC BY-SA 4.0. Measured figures CC0.</rights>
  <entry>
    <title>Channels are not accounts</title>
    <link href="https://ln.university/foundations/channels-are-not-accounts"/>
    <id>https://ln.university/foundations/channels-are-not-accounts</id>
    <published>2026-08-22T00:00:00Z</published>
    <updated>2026-08-22T00:00:00Z</updated>
    <summary>Why a Lightning channel is a two-sided capacity rather than a balance, what inbound and outbound liquidity actually mean, and why a funded channel can be unable to receive a single satoshi.</summary>
  </entry>
  <entry>
    <title>What capital costs, in bitcoin</title>
    <link href="https://ln.university/measured/what-capital-costs-in-bitcoin"/>
    <id>https://ln.university/measured/what-capital-costs-in-bitcoin</id>
    <published>2026-08-22T00:00:00Z</published>
    <updated>2026-08-22T00:00:00Z</updated>
    <summary>The three-month bitcoin-denominated rate, measured daily across venues, and what a negative cost of capital does to the arithmetic of leasing inbound liquidity.</summary>
  </entry>
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