Post
Topic
Board Bitcoin Discussion
Re: How does block size harm decentralization?
by
nutildah
on 10/02/2019, 06:17:44 UTC
LN is not a bitcoin thing.
LN is a separate network for multiple coins. the onyl reason the words bitcoin and LN are currently inter-twined is purely for promotion and sponsorship stuff..

LN is just a thunderdome to let many coins IOU's(12 decimal payments) enter. and then have some coins soo expensive and so unable to manage millions of transactions a day, that people wont want to exit back out to those coins.
thunderdome 2 may enter one may leave..

its the old banking addage of gold is too heavy and costly to be a currency, so lock ur gold up with a counterparty and have them give you a promissory note(19th century banking promotion).. and if you want to convert the promissory note to coins, you may find taking silver or copper a better exit method.

LN does not scale bitcoin. it actually takes bitcoiners off the bitcoin network "to reduce the burden" (=reduce bitcoin utility)

I realize arguing with you is pointless because you've never been wrong. But the difference between the 19th century and now is there were no smart contracts back then. You're purposefully talking around the point that the BTC is locked up by _nobody_ but programming language, and _nobody_ has to participate in the LN if they choose not to. I don't understand how you can continue to be so mad at a technology. If LN encourages mass participation of bitcoin, why be angry at it? Its nonsensical.