Post
Topic
Board Development & Technical Discussion
Re: Don't we need to increase block weight/size?
by
Anti-Cen
on 15/01/2018, 15:40:14 UTC
Everyone's a bank in Bitcoin
Yes if they hold the public key

Quote
Everyone's a bank on the Lightning network
No because not everyone becomes a hub and keeps lots of channels open because it costs
$30 in Tx fees to close them and get the balance committed to the BC

lets draw this out and Bob sends Alice $1.00

Bob---->You---->Hub1<><><><>Hub2<------Alice

You become a relay node that lets Bob share your major hub because you use Bitcoin
five times a day, always online and share the channel.

Hub1 settling up with Hub2 cost him money (in debt to hub2) so he wants you to chip in with the bill
and takes fees from you for the service but Hub1/2 settling does not mean that Bob is forced to settle
up with Hub1 or you or even Bob

Question
1. Hub1 and you fall out, fees to high but hub1 owes you $500 so explain settlement of the public and private ledgers
2. Bob owes you $1 but the channel is no use because you have no out going channels so what happens to Bob

and also note that I am not against
Segwit which kinds of brings file compression to the blocks using "Extended blocks" to
store data in BC because short term it is a good fix

Quote
That's totally wrong

Yeah, maybe you should take your issue up with this guy
https://www.youtube.com/watch?v=OFfBRzh9HmU
because i think people will see that my comment was totally right