here goes CB failing to grasp the basics of multisig..
-snip-
Will you stop with the nonsense already?-snip-
Whether you deem it "nonsense" or not, it's still a dramatic shift in how the system operates. I, for one, am glad that people are stopping to think about the ramifications. It seems like almost everyone has a slightly different idea in their head about exactly how Lightning is going to operate in practice. Right now it's all theory, so I'm not going to dismiss franky1's concerns. I certainly hope they prove to be unfounded, but if there's any chance they're not...
... and what? If there's any chance they're not, you should find out for yourself. The idea that any credibility should be afforded to a consistent Bitcoin troll of 4 years+ is a joke, Franky has proven to be such a troll so, so many times. Every bit of his weirdo politics has ended up proven wrong, upon which he just moves onto the next scare tactic. Which makes your opinion a bit of a joke, doesn't it?
Whatever you say, Carlton. Anything to set the narrative that anyone who disagrees with you has to be a troll and have nefarious motives. I suppose I should be used to it by now, but it's no less disappointing each time you do it. Less personal attacks and character assassinations, please.
LN is banking, no way around it ,
BTC onchain network has real BTC on it, on LN you are trading nothing but a representation value of BTC , as being off chain, BTC can not actually be on the LN Network.
IE: Banking
BTC onchain network has real BTC on it, on LN you are trading nothing but a representation value of BTC , as being off chain, BTC can not actually be on the LN Network.
IE: Banking
Now, see, I wouldn't go to this extreme either. It's not that black and white. Plus, it is still real BTC, just lifted temporarily off-chain until settled again. There is no fractional reserve in play, nor should there ever be. LN has its place and it should be implemented, that's a reasonable standpoint, but at the same time, it's not a substitute for on-chain scaling and no one should be forced into using it. They're all individual elements of an overall scaling solution. Again, everything and the kitchen sink.