Post
Topic
Board Bitcoin Discussion
Re: Analysis and list of top big blocks shills (XT #REKT ignorers)
by
sAt0sHiFanClub
on 30/01/2016, 01:17:31 UTC
I absolutely second that. What fundamental flaws?
Apparently he meant this article:
try this
I'm too tired to analyze all parts of the article. Let me just point 1 thing out:
Quote
What I’m not for, however, is prematurely deprecating critical parts of bitcoin (zeroconf transactions and low transaction fees)
The author works under the premise that these transaction are fundamental parts of Bitcoin. The right description would be: "these are dangerous, and you shouldn't use them, because you will lose money, and people who know better will laugh at you".


I will get back to this, but even if these points are true they sure aren't 'fundamental flaws'.

His views on 0-conf and fees are orthogonal to a discussion on LN.

Address the issues around:
  • How it will avoid centralization when the only likely working model will be hub and spoke.?
  • Why transact on main chain at all if payment channels can be settled (effectively) channel to channel?
  • How are routes going to be found in real time unless they are for common/recurrent payments?
  • How are routes going to persist? Or should they? 
  • How long will funds need to be tied up on main chain to support single/multiple channels?