Post
Topic
Board Bitcoin Discussion
Re: Comparison of Offchain Solutions for Crypto Coins
by
franky1
on 26/03/2019, 16:32:14 UTC
fractional reserve on LN. it has begun

https://www.bitrefill.com/buy/lightning-channel/

500,000 sats capacity You pay 0.000403 BTC
2,000,000 sats capacity You pay 0.001341 BTC
4,000,000 sats capacity You pay 0.002011 BTC
8,000,000 sats capacity You pay 0.003753 BTC
16,000,000 sats capacity You pay 0.004825 BTC

until windfury understands a millisat is not a sat.(payment contract vs broadcast tx 2 different things)
until windfury understand a signed payment channel is not a signed bitcoin transaction
until windfury understand the concepts of factories, watchtowers.
until windfury understands that what happens inside a channel is not a blockchain
until windfury understands the LN is not bitcoin
until windfury understands LN is not community audited, regulated, consensused
until windfury understands LN does not have the byzantine gnerals solution
until windfury actually spends more time researching LN before promoting it.

then there is no point

wind fury. lets get back to basics.
imagine just the bitcoin protocol
if there was a bitcoin signed tx. but it is never broadcast, never relayed never enters anyones mempool...
is it a settled transaction paid in full?

if someone wrote you a cheque for $1billion. its signed. but has not ben submitted to the banks to be cleared.
is it a settled transaction paid in full?

knowing channels are just 2 party, no community oversight. where if you paid me $1 i would open a channel with you to credit you with 2btc channel. (obviously ur happy with the deal as its me at risk, not you)
and due to the privacy stuff. the routers dont blockchain check every nodes balance. they just htlc request 'can you handle 2btc' to which you would say yes. alot of things can get messed up in LN.

you really need to go research this stuff and not just spout out the utopian sales pitch