Quote from: DooMAD on July 28, 2018, 07:32:27 AM

Quote from: Zin-Zang on July 28, 2018, 05:36:10 AM

Quote from: Pursuer on July 28, 2018, 05:24:02 AM

Quote from: franky1 on July 27, 2018, 06:38:21 AM

Quote from: Wind_FURY on July 27, 2018, 05:36:46 AM

You say that as if the users do not have full control over their Bitcoins and channels. They still do have 100% of their coins.

OMG..
lets address the last point first.
in LN YOU DO NOT have full control over your bitcoins.. LEARN MULTISIG
it requires signatures of more than one person. atleast learn that as a basic first lesson.

just because it is using multisignature features it doesn't mean you don't have full control over your funds. you still own the signed transaction that is required to "settle the real balance on the blockchain" so to speak if the other party didn't honor his end of the deal.
maybe you need to read the paper or use LN first at least then talk about it! Wink

Maybe someone should explain to you the definition of FULL CONTROL.
Definition of FULL : COMPLETE
Definition of CONTROL: AUTHORITY OVER

Now put them together:
FULL CONTROL = COMPLETE AUTHORITY OVER

Therefore multisignature which grants a portion of control to another party,
means exactly THAT YOU DO NOT HAVE FULL CONTROL!

Franky1 is right again and LN supporters wrong again. Looks like a pattern to me. Cheesy

You could argue that there is shared control, but never full control.

I now understand why you LN guys are so clueless, your complete and utter failure to understand the English Language.
Explains a lot. Cheesy

At this stage we don't even need to refute your misinterpretation of it. We'll just quote you, so that when you realise how totally and utterly wrong you are, you won't be able to go back and edit your posts to mask your ignorance. Anyone who does understand how this works can immediately recognise how totally unknowledgeable you and franky1 are. Providing you act within the rules of the network and stay online to counteract any malicious activity by the other party, you are in total control of your portion of the funds in the channel. That's how it's designed to work. Learn smart contracts.

If you mistakenly spend from an outdated channel state or go offline and miss the expiry of the timelock, then that's a breach of the smart contract, so yes, you can potentially lose control of your funds in those situations. But as the technology advances, developers will clearly work on reducing those risks as much as they can.

I suggest you get a dictionary for Christmas, because you are quite literally a full/complete/total idiot. Kiss

Largest LN Node just closed all of his channels , why : it was scaring the hell out of him that all of his funds would be stolen while he slept.
Also he did not even earn enough in fees to even cover his PC daily electricity usage. Tongue

https://1ml.com/node/036b32ac6acf6d178f47c2139b7327ab85bd3d5f5c40681a9a48109ea21f53e1e5/history

https://medium.com/andreas-tries-blockchain/bitcoin-lightning-network-4-what-happens-when-you-close-half-of-the-lightning-network-b25b330dfad2

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Operating the largest node on the Bitcoin Lightning Network has been educational, frustrating, fun, and at times terrifying.

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My Lightning Node has routed 389 payments, making a profit of $0.34. I suspect the increase is mostly from the recent increase in bitcoins price.

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Running a large Lightning Network node has been quite stressful.
An exploit such as we saw with heartbleed could allow an attacker to drain all funds from the node while Im sleeping.

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Closing a channel using --force results in a unilateral close which makes the funds unavailable to me.
The amount of time the funds are locked up depends on the channel policy. This policy is negotiated when the channel opens.
Most channels will release the funds to me in between 1440 and 20180 minutes.

FYI:
20180 minutes is 336.33 Hours or ~2 weeks

Seems to me if the guy had complete control as some idiots think they do ,
he would not have to wait 2 weeks to find out whether or not his bitcoins are redeemed or lost forever. Tongue