⭐ Merited by ebliever (5)
All they have to do is be on Multiple exchanges that offer Offchain Transactions such as Cryptopia or Trade Satoshi or any other 3rd party that wants to offer offchain transactions. Also since their transactions are offchain, no tracking is possible, unless the exchange complies with a warrant.
(But if no one know what exchange you are using , they would not know where to send a warrant. )
The Exchanges work right now without the complexities / confusion of LN.
Here is the kicker , any coin on the exchange can do it.
Exchanges don't have the time locks or limitations of LN and will probably be cheaper than LN fees.
(But if no one know what exchange you are using , they would not know where to send a warrant. )
The Exchanges work right now without the complexities / confusion of LN.
Here is the kicker , any coin on the exchange can do it.
Exchanges don't have the time locks or limitations of LN and will probably be cheaper than LN fees.
*Decries LN "banks" which aren't actually banks at all, then tells people to use exchanges like actual banks*
You realise that's pretty stupid advice right? With exchanges, you're trusting that third party to be the custodian of those funds. You are giving them your money, making them the owner of that money, and asking them to look after it for you. With a multisig setup, you still have control over your funds. I don't care how complex or confusing you think it is, it's still more secure to control your own private keys.
If you want to hand your money over to total strangers on the internet, go right ahead. Don't come crying to us when you lose it.
FYI:
LN hubs , use their own LN Notes (promises to redeem/pay bitcoin), all LN hubs will be required to conform to AML/KYC regulations.
So LN transactions will not stay private and will be reported.
No Governments are going to allow LN Hubs=Unlicensed Banks to bypass all of their AML/KYC regulations.
They will eventually require a banking license for all LN Hubs and full reporting compliance.
LN hubs , use their own LN Notes (promises to redeem/pay bitcoin), all LN hubs will be required to conform to AML/KYC regulations.
So LN transactions will not stay private and will be reported.
No Governments are going to allow LN Hubs=Unlicensed Banks to bypass all of their AML/KYC regulations.
They will eventually require a banking license for all LN Hubs and full reporting compliance.
Centralised exchanges are far more likely to be subject to KYC/AML than LN is, again demonstrating the absurdity of your argument. But again, go right ahead and take the "too dim to understand the benefits" option and hand your money over to strangers. It's not like you'll have any other option if you're using BCH anyway. At least BTC is giving users a choice over how they want to handle their privacy and security. I would much rather open a payment channel over depositing funds to an exchange.
Plus, for altcoin trading, we won't even need exchanges anymore when atomic cross chain transfers mean we can hop from one blockchain to another without any middlemen holding funds in between. Although, again, BCH users won't have the option to attend that party due to their limited vision. LN is a step towards the death of custodial banking, the exact opposite of what you attempt to portray it as.