Quote from: iCEBREAKER on February 14, 2017, 09:57:33 AM

Quote from: kiklo on February 14, 2017, 09:10:05 AM

Quote from: iCEBREAKER on February 14, 2017, 09:03:17 AM

Quote from: https://medium.com/@rusty_lightning/bitcoin-lightning-things-to-know-e5ea8d84369f

Is Lightning Bitcoin?

Yes. You pick a peer and after some setup, create a bitcoin transaction to fund the lightning channel; itll 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.

That in the above line in Red is a LIE. LN is OFFCHAIN!!!

Your ability to Lie thru your teeth is pathetic.

Read pages 49-51 of the LN whitepaper and all of the ways your LN funds can be stolen , then lie some more.

So @rusty_lightning is a liar? And he's lying through his teeth? And that's pathetic?

Could be. Or maybe you're just being hysterical because you can't stop Lightning. Cheesy

I'm sorry you don't understand how trustless bidirectional payment channels inherit Bitcoin's security, but Honey Badger doesn't care one bit.

If you can peg - you can also un-peg.

Somehow this reminds me to Nixon un-pegging gold from the USD - 1971 ?

You may trust - others you might convince.

I want use LN as well, but only for pennies I'm happy to lose and as quick as possible!

-> Risk disclaimers are your friend here, or will you be there and replace all the lost funds in case?