Post
Topic
Board Bitcoin Discussion
Re: So who the hell is still supporting BU?
by
iCEBREAKER
on 14/02/2017, 09:03:17 UTC
Lightning tx are trustless.  They are not some idiotic trusted 3rd party solution like Dash's Masternodes.

On-chain scaling is the most secure thing one could do (here you have the biggest hardware + energy investors = miners behind) and we need this first or at least parallel to all the other triggy scalings on top.

LN *is* Bitcoin, so it uses the same amount of energy for security.

Is Lightning Bitcoin?

Yes.
  You pick a peer and after some setup, create a bitcoin transaction to fund the lightning channel; it’ll then take another transaction to close it and release your funds. You and your peer always hold a bitcoin transaction to get your funds whenever you want: just broadcast to the blockchain like normal. In other words, you and your peer create a shared account, and then use Lightning to securely negotiate who gets how much from that shared account, without waiting for the bitcoin blockchain.

See?  Lightning is 100% Bitcoin.  It's just a clever way to efficiently arrange blockchain writes, yielding massive gains in effective TPS.

Only correct thing in this rage-post is: You did not dare arguing against:

'On-chain scaling is the most secure thing one could do (here you have the biggest hardware + energy investors = miners behind) and we need this first or at least parallel to all the other triggy scalings on top. '

I'll let you play with LN in LitecoiN - so you have time for self-education.

Lightning is on-chain scaling.  Rusty explains why Lightning is 100% Bitcoin in clear, simple words.  If you can't follow the technical discussion, too bad for you.

Your failure to understand how trustless bidirectional payment channels inherit Bitcoin's security isn't anyone's problem but your own.