Re: Lightning Network Observer

Quote from: franky1 on Today at 02:19:15 AM

converting a onion payment amount of 99,999msat
to 10sat is not a rounding error

its a full conversion at a 1000x rate
that 1000x rate is the part im on about not the idio roundong silly petty brush under carpet arguments you think that only happens in LN

That's not what is happening, though. 99,999msat are rounded down to 99sat if the channel state has to be settled on the blockchain (read: channel is closed). Just under 1sat gets lost. No 1000x rates or anything.

Quote from: franky1 on Today at 02:19:15 AM

Quote from: n0nce on Today at 12:49:33 AM

Do you have an idea about an off-chain system which doesn't need to be 'watched' / online? That would be amazing.

yea. its called bitcoin
i dont need to be online all day to "watch" it for theft. heck it even comes in the form of paper wallet

Nobody is arguing against Bitcoin. Lightning is an addition to Bitcoin trying to solve the scaling problem. I know that you don't think it exists, because technically, as of now, the blockchain is fast enough. Think of it as future-proofing and / or trying out techniques well before they may be actually needed to ensure Bitcoin's blockchain (that we all know and love) isn't clogged up and rendered unusable due to higher usage / higher number of active users.

Quote from: franky1 on Today at 02:19:15 AM

i dont think you LN folk realise that LN "tech" is actually the failed projects of cypherpunks 2000-2007.. it was then bitcoin and blockchains that solved a problem for smart contracts..

Only Bitcoin and its blockchain enables a concept such as Lightning to work. In 2000-2007 that didn't exist, which is why any project aiming to do what LN does, would have failed.

I know you love the blockchain, and we do, too; without it, Lightning is unthinkable.