Quote from: DooMAD on May 26, 2019, 02:08:30 PM

Quote from: franky1 on May 26, 2019, 08:23:19 AM

HTLC contracts are not bitcoin transactions that broadcast to the btc network

By design. It would somewhat defeat the purpose of it being off-chain if they were broadcast to the blockchain. They're still not IOUs. A commitment transaction is more binding than an IOU.

The clue is in the name. That's why they call it a "commitment transaction" and not an "owed transaction", or a "promised transaction".

1. not being broadcast is the point. people need to realise that until its settled on a blockchain using a proper/native bitcoin transaction, not a HTLC, the balance is temporary and can get lost because people can go offline and lose their HTLC (even LN dev's admit this flaw) thus lose where they stand and how much who owes who what
(its why they envision watch towers and factories to middleman manage the IOU's)

2. a HTLC is measured in Msats
thus even if it was a really secured lock "commitment" (as you call it) is not final/milestone/explicit/settled
p.s HTLC is Hashed Time Lock Contract. i see you subtly trying to slide in a new buzzword 'commitment' but it didnt work
trying to avoid things like agreements, promises by then throwing in a new word to push the conversation further out. doesnt main the basic definition/function of a HTLC any different

its meaningless because what the contract represents is just a peg to real bitcoins. all a HTLC does is let users know a balance of who owes who what amount of collateral, without actually moving, involving the collateral... in short its just a tally of temporary position/temporary tally of who owes who what