Post
Topic
Board Bitcoin Discussion
Re: SegWit and LN are really interesting altcoins... but that is not Bitcoin.
by
Carlton Banks
on 15/10/2016, 13:04:54 UTC
lets word it a different way,

Yes, that's your only weapon in this argument: playing with semantics, lol



All Lightning transactions are validated by all Bitcoin nodes, before they can be accepted at all as an open channel by the Bitcoin network. Opening a Lightning channel involves making a Bitcoin transaction, and all the units are BTC.

The fact that the units are being carved up a thousand times smaller is completely irrelevant, Franky is essentially trying to say that $ 1,000,000 dollars is one currency, but  $0.000001 cents is different currency completely, purely because the accounts system that deals with millions can't do 6 decimal places of accuracy.

Part of the point of Lightning is to make smaller denominations of Bitcoin usable; a transaction with less than 5430 satoshis of outputs is either invalid or non-standard right now, Lightning would enable 1 satoshi (or less) to be used. This will be needed if Bitcoin becomes worth $10,000-1,000,000, as it would only be possible to use Bitcoin to send a minimum of $1000 without.

This is such a simple, easily refuted lie, and it can only be a lie, not some kind of mistake or oversight. Trolling, in other words.