Post
Topic
Board Bitcoin Discussion
Merits 3 from 2 users
Re: [self-moderated] Is LN Bitcoin? franky1: About scaling, on-chain and off-chain
by
LoyceV
on 09/01/2022, 16:28:53 UTC
⭐ Merited by vapourminer (2) ,JayJuanGee (1)
I'm taking this post from BlackHatCoiner's topic in Meta here:
anyone advertising LN as bitcoin. as bitcoinL2 as bitcoin2.0. as bitcoin scaling. as anything pretending to be the bitcoin network. should think deeply about their advertising stance of confusing people. and then realise the N of LN means its not the same network as bitcoin, and just avoid advertising it as being part of the bitcoin network.
I'm still amazed how much you dislike LN, and I still don't really understand why. From the above, it sounds like it's mainly about the terms used. I prefer to say "Bitcoin LN" when I mean a LN-transaction tied to the Bitcoin network. In other words: a LN transaction that can ultimately be settled on the Bitcoin blockchain. And I always thought "Bitcoin LN" was clear for everyone to understand what I mean.

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bitcoin-core. the reference client (which altnet groupies also love describing as the sole place feature upgrades should be allowed via) does not have code that support LN millisats nor LNs peer connection gossip protocols. nor the invoice format
You seem to suggest that's a bad thing, or something that makes LN a bad thing. I think it's the opposite: it's great! That means the Bitcoin network can't be touched, can't be damaged, can't be hurt and can't be stopped by Bitcoin LN. And it's why people say LN runs on top of Bitcoin. If it's about nomenclature, I think we should be able to figure out something that works for everyone.

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and so because its not part of the reference client of the bitcoin network protocol, its not part of the bitcoin network
If it's about terminology again, it doesn't matter much to me. All I know is that my (non-custodial) Bitcoin LN transactions can and will eventually be settled on-chain, after paying a more or less uncertain transaction fee. There's certainly room for improvement, but I think the potential is too good to completely dismiss.

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EG its the same as saying a exchange is not "bitcoin" but a niche service
if people cannot comprehend the simple task of separating the wording of the function of an exchange from the wording of the function of the bitcoin network. then they need to resist trying to say an exchange is bitcoin
I think we can all agree that exchanges are not Bitcoin. Even though they'll probably let you withdraw your funds, you're completely at their mercy if the decide otherwise. That's not the case when your funds are locked in a LN wallet: you know you can get your funds settled on-chain.