Post
Topic
Board Bitcoin Discussion
Re: So we tried out Lightning tonight at ROOM77
by
QuestionAuthority
on 02/04/2017, 21:18:40 UTC
It only uses bitcoin for its final reconciliation. You can completely work with LN transactions (even spending from them) without ever involving the bitcoin blockchain.

No

Bitcoin is used before, during and after Lightning transactions are sent. Not just after, as you falsely state.


1 Bitcoin transaction is used to open a channel to start with

That transaction is used to check that the BTC being sent over Lightning is the real thing (how else do you stop people just faking that they have some BTC on the Lightning Network, huh?)

1 Bitcoin transaction closes the channel


Furthermore, Lightning Network isn't a blockchain at all, it uses Bitcoin's blockchain, and that's the only blockchain involved. You don't know much about it, you need to actually be informed on a subject before you can make such confident comments.

And you need to learn how to read dumbass. I said it's a scripting language fool. Reconciliation means that it uses Bitcoin as a ledger only not for the transaction. You're so fucking stupid why do you even bother reading?