Post
Topic
Board Bitcoin Discussion
Re: So we tried out Lightning tonight at ROOM77
by
spartacusrex
on 04/04/2017, 09:17:23 UTC
Ok Kiklo - let's dance.

Anyone that reads the LN Whitepaper , can see stealing BTC from LN, requires nothing more than evading their time locks.

That is true for any 'refundable' time locked txn, like Atomic Cross Chain Transfers.

If I can stop you from claiming the coins before the time lock expires, i can refund them back to myself (after I have taken your coins aswell that is).. Just have to prevent your TXN from getting on chain.

This is much harder to do than I think you are implying.

Hard for you & me , yes it is.

This I agree with  Smiley

But the rich guys that can collude to 51% attack.. it is easy as pie.

As easy as mounting a 51% attack !? yeah - real easy.. (And this attack applies to EVERYTHING crypto-coin based - not just LN)

..the rich guys that can spam the network until your timelocks expire, it is easy as pie.

Nah.. Let's say I want to cash out $100. All I need to do is pay a fee higher than the LOWEST the spammer pays.. Sooo.. If I'm prepared to pay $1, the spammer would have to spam the network, with fees OVER $1 for 100's / 1000's of TXNS to prevent mine from getting on.. no way is that worth it.

* The only poor people able to pull it off , are the Hackers that learn to Hack the LN Nodes, and modify the timelocks ahead of schedule.* Wink

Nope.. AT NO STAGE am I having to TRUST the LN node to sign anything on my behalf. All the clever crypto-shit is done by the client, on his machine, and he certainly isn't going to sign a txn that has 'funny' timelock schedules.. The worst the hackers can do is force me to cash out, if the LN node starts spewing rubbish.