Quote from: d5000 on May 30, 2019, 03:09:23 PM

Quote from: Wind_FURY on May 30, 2019, 08:10:36 AM

But there are no IOUs in Lightning. They are actual signed transactions by the participants of the channel that have not been broadcasted in the network yet.

I know. But as long as they're not broadcast (in the majority of the cases, they will never be broadcast) these transactions "exist" between the participants of the transaction only (which are not only sender and receiver, but also the intermediate nodes who transmitted them). So while they're not typical IOUs (like tokens or exchange balances, for example) they have some properties of IOUs, as they show the "balance" between the participants of the channels which is independent of the current state of the blockchain (only that it cannot be higher in favour of one of the participants than the channel capacity).

But the Bitcoin blockchain acts as an arbiter. So the risk associated to them isn't comparable with "standard IOUs", but much closer to standard Bitcoin transactions.

In reality, I wouldn't describe them as IOUs but as a "new type of thing", although they share some properties with IOUs, and others not.

Haha, don't give an inch to their narrative. I wouldn't give the fudsters any encouragement by saying "they share some properties with IOUs". Because you're not sending anything worthless - IOUs in Lightning.

Quote from: Wed on May 31, 2019, 10:36:45 AM

Quote from: BitCryptex on May 31, 2019, 09:36:15 AM

The payment will fail after some time if not immediately. Running a node on your phone would quickly drain your battery.

Also if you're running an SPV node? I think (hope) SPV Nodes could help users to have their own node without having any knowledge about servers and just with their phones.

https://twitter.com/electrumwallet/status/1134132601046937601?s=21

Cool