Post
Topic
Board Bitcoin Discussion
Merits 3 from 1 user
Re: Lightning network
by
Wind_FURY
on 29/07/2018, 04:31:25 UTC
⭐ Merited by hatshepsut93 (3)
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.

Yes YOU DO STILL HAVE FULL CONTROL over your Bitcoins if using the Lightning network. If anything goes wrong with your channel, you simply broadcast the current state of your channel as if it was a normal on-chain Bitcoin transaction.

Quote
1.lightning is not a feature of bitcoin. its a separate service that many coin can use. so MANY coins will get the same advantage thus not bring any hype to bitcoin alone

It is not "hype" for Bitcoin that Lightning developers are after, it is to scale the network while keeping the ability of the network to scale up at the same time.

LN is not a service to scale "the network"(you are talking about bitcoin).. LN is a separate service network all on its own. LN is to allow many different coins to use this separate service network so they are no longer using the blockchain of many coins.
its got nothing to do with "scaling bitcoin" its about diverting people away from using bitcoins mainnet.
EG its not a highway that needs an extra lane and LN is that extra lane.
LN is telling people to get off the highway and use a country road along side farm trucks and pedestrians(othercoins). thus the highway doesnt get its extra lane

According to your opinion. But Lightning is nothing like a "separate service network". It is simply Bitcoins locked in a multisig address to "transact more efficiently now and then broadcast on-chain later".