Post
Topic
Board Bitcoin Discussion
Re: [self-moderated] Is LN Bitcoin? franky1: About scaling, on-chain and off-chain
by
franky1
on 20/12/2022, 22:22:33 UTC
now to summarise why this topic even started by loyce


To start: I use on-chain Bitcoin, and I use Bitcoin LN. Bitcoin can work with or without LN, LN can't work without Bitcoin. I don't like high fees, as it limits adoption. I would like to see Bitcoin grow in value, userbase and number of transactions per second, and I think we need all three of those for Bitcoin to grow. How, that's up for debate.
LN is a different network for a reason. it has its own usecase and niche and utility that differs from bitcoins.

bitcoin lives on the bitcoin network. it never leaves the bitcoin network and no one can create new bitcoin on or off the bitcoin network so anything pretending to be bitcoin outside the bitcoin network is not bitcoin

database balance on a CEX is not real bitcoin
sidechain tokens/ subnetwork IOU's are not bitcoin

if it uses a different unit
EG a token of 11 decimals. its not bitcoin
if its not appearing as a bitcoin UTXO when you feel that you have been "paid" its not bitcoin