Post
Topic
Board Bitcoin Discussion
Re: So who the hell is still supporting BU?
by
RealBitcoin
on 14/02/2017, 09:35:06 UTC

Bullshit. In the traditional sense of third parties and IOUs, there is always one party that can take away your control of the asset in question. This is not the case with LN, because it is decentralized. There will be things like LN hubs for sure, which people will argue that are centralized, but they only serve for better routing purposes.

That is the whole problem.


  • We already have a risk variable called the nr. of Bitcoin nodes.
  • With LN you introduce another risk variable, called the nr. of LN hubs.




So the only thing you are doing is just doubling the risk of centralization, while introducing competition to the miner fees, which will leave less miners active.


You you don't just double the risk of node centralization, but you also increase the risk of miner  centralization, since a lof of fees will be siphoned off from the miners, leaving small miners bankrupt.

Instead of just introducing a more efficient mining system other than POW that does keep mining more decentralized, now Segwil will mess around with both the mining incentive structure, and the Bitcoin node system.

A very very bad solution.