I was hoping to avoid the bitcoin nutjobs such as windfury & talkbitcoin, sad to say the morons are very active.
and yet you weren't capable of answering the questions that i asked even though i said i am willing to accept all the things you said here as correct! i don't know how that makes me a moron and you a "wise" person
Sorry did not know you were able to read.
you know what the problem with people like OP is?
it is that they always complain about everything! complaining will never solve anything, specially if it is false but that is not what i am trying to talk about here.
let's say for a moment, whatever you are saying about LN here is correct. so what is YOUR solution to have
- a decentralized network that you can make a payment
- that is irreversible within seconds
- is 100% safe
- uncensorable
- and can handle billions of transactions every second from one side of the world to another side
i will be waiting for your contribution!
it is that they always complain about everything! complaining will never solve anything, specially if it is false but that is not what i am trying to talk about here.
let's say for a moment, whatever you are saying about LN here is correct. so what is YOUR solution to have
- a decentralized network that you can make a payment
- that is irreversible within seconds
- is 100% safe
- uncensorable
- and can handle billions of transactions every second from one side of the world to another side
i will be waiting for your contribution!
Hate to be the one to break it to you, at the moment
their are no decentralized networks that are not reversible , (short chain rewrite)
none are 100% safe, None are uncensorable, none can handle billions per second.
However some do get safer with each block confirmation and reversion potential decreases as does censoring ability.
But where you miss the point , is their is a difference between performance specs and outright fraud.
What you listed are performance issues , and each block increases the safety and certainly of transactions not being reversed.
Transaction limits are the result of current internet bandwidth , which is improving on a yearly basis.
But outright fraud is allowing a fractional reserve ie: counterfeiting into a monetary system,
which a blockchain secures 100% against and offchain solutions do not!
Say you enter a contract where the goal is to show the most funds, winner takes all,
and you are honest and enter your funds, while the counter-party generates false funds using fractional reserve and exceeds your amount,
therefore winning the contest and being able to seize your funds as part of the contract.
The counter-party committed outright fraud and theft , so you want me to believe you be ok with that.,
as you would be the direct victim of it.
https://www.brainyquote.com/quotes/henry_ford_136294
Quote
It is well enough that people of the nation do not understand our banking and monetary system,
for if they did, I believe there would be a revolution before tomorrow morning.
Henry Ford
for if they did, I believe there would be a revolution before tomorrow morning.
Henry Ford
updated:
It is well enough that people of the world do not understand our Lightning Network Offchain system,
for if they did, I believe there would be a revolution before tomorrow morning.