Post
Topic
Board Bitcoin Discussion
Re: Fuck: SegWit, LN, Blockstream, Core, Adam Back, and GMazwell
by
franky1
on 26/03/2017, 17:52:40 UTC
The protocol should be neutral to a 2nd layer, and I expect competition between several second layer networks over fees.
Even better, low end users should be able to participate by running LN nodes, getting a cut of the fees.

That's what I expect from this, and that's why I support SegWit

if your only supporting core with hopes of making an income running a LN node hoping to be a 'payment hopper'. i have to wake you up

even if it costs 1sat(its more and fixed so forget hopper competition) to make a payment and you core'bob' want a fee for instance

Alice< >'bob'< >Cindy< >Dave< >Eddie
if alice wants to pay Eddie.. alice needs to pay
'bob' 1sat,
Cindy 1 sat
Dave 1 sat
to get to Eddie.. costing alice 3sat(it will be more, but for simple demo im just saying 1sat each)

if alice wants to pay Dave.. alice needs to pay
'bob' 1sat,
Cindy 1 sat
to get to Dave costing alice 2sat(it will be more, but for simple demo im just saying 1sat each)

this will not happen.. instead..

             Bob          Cindy
              ^             ^
              v              v
alice < > blockstream/DCG < > Felicia
              ^             ^
              v              v
            Dave        Eddie


now alice can pay anyone for just 1 sat.. and the other people get nothing... yep thats right core'bob' you get nothing.
blockstream get the 1sat's per payment.

even funnier part is LN has fixed the fee at % of amount.(which actually limits how many transactions you can make offchain)
EG if 1%= 100 payments and literally your money is gone in mostly fee's