Quote from: Khaos77 on April 09, 2019, 03:48:26 AM

Quote from: loicuagio1979 on April 04, 2019, 11:25:51 AM

Quote from: franky1 on April 04, 2019, 10:32:23 AM

windfury
you dont use LN, you dont understand LN. so why are you always trying to promote LN

LN is not bitcoin
not all nodes are individual people

check this out
https://1ml.com/location/us/va
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Well, i promote LN because it's one of the logical math in the near future which I wanna solve myself.
You're right, i and most of btc enthusiasts don't or even never use LN but I wanna deeply understand what it really is and how it works
Thank you for your information. I will take it into my consideration

LN is nothing more than a 3rd party offchain IOU system.
Time Lock coins on any segwit coin, ie: btc or ltc or others
Make LN contracts (IOUs) to other LN parties ,
Once concluded, hopefully redeem said amount on whichever blockchain you used to begin with.

Work on LN instant channels , for users to seem to have actual funds,
but they never waited to verify the onchain time lock actually confirmed.
Which opens the potential for fractional reserves and counterfeiting something blocked by the blockchain itself.
No different than modern banks fractional reserve shenanigans.

Slick, how they screwed the blockchain users by offering offchain banking. Tongue

FYI:
Little known facts, use LN incorrectly and you actually increase the number of onchain transactions needed.
LN used correctly to lower onchain transactions, must be primary between the same parties at enough transactions to decrease onchain transactions compared to just paying onchain.
Using a gift card has proved superior to LN in lowering onchain transactions for normal people.
Using LN with Litecoin is ~33X cheaper than using LN with btc, also since litecoin has plenty of onchain capacity ,
this decreases the threat of losing funds due to a offchain transactions not being onchain at the specified time. Wink

To all newbies. Listen to him and franky1, and take everything they say about Lightning as the truth. Believe everything.

If you have more questions, ask them in this topic, https://bitcointalk.org/index.php?topic=4792622.0 Cool

Memefy them. Cool