after all. if paypal offered payments for micropennies but said it will charge $80 per deposit and $80 per withdrawal.
people will just use vinmo
are you comparing bitcoin with paypal and venmo?
i edited it to clear up any misunderstanding
im comparing bitcoin to dollars.. and paypal to sidechains/[bb]altnets like LN[/b]
im comparing altcoin to euro.. and venmo to an altcoin sidechain/altnet
Did you just call the Lightning Network an “altcoin network”? Because that’s a misinformed way to describe it. It needs an onchain transaction to open, and fund a channel in Lightning. In actuality those transactions in Lightning are Bitcoin transactions that have not been broadcasted in the Bitcoin network yet.
i think it is a good idea to
ignore franky1 on anything he says about the lightning network
.. i think seeing as you are only 2 weeks into your knowledge of LN
you have no judgement on what LN is
awesome faq, was a pleasure to read
Is Lightning Network centralized? Is it more centralized than Bitcoin? Does it make Bitcoin more centralized?This topic has been brought up many times. The Lightning Network is a second layer scaling solution which has no impact on the Bitcoin network. It works independently and no one is forced to use it.
the wording here is a little bit off imo. i guess you are not talking about the lightning technology used on another network than bitcoin. that means the lightning network it is clearly dependent on the bitcoin network and also i would say, that both networks have an impact on each other. i agree with the last part, that no one is force to use neither networks
(some say people in el salvador are now force to use it, but that is another topic)only read the first post for now, sorry if this already came up, will catch up soon
LN is a independandant network that can bridge to many crypto's
it is not bound purely to bitcoin. LN can still function without bitcoin and run with another altcoin.
LN even has features where users NEVER have to broadcast to a main currency network
so dont be so quick to join the fluffy utopian advert army that pretend LN is bitcoin
you will soon learn many projects pretend to BE BITCOIN purely to grab onto the fame and trust of bitcoin. even when their project is buggy, flawed and full of security risks
just be warned after 4 yers LN is still buggy and flawed and does not have the same immutible payment scheme of bitcoin. even LN devs have lost value using LN