Post
Topic
Board Bitcoin Discussion
Re: Lightning Network Observer
by
JayJuanGee
on 20/12/2023, 01:55:30 UTC
funny part is i was calling out the segwit flaws in 2016.. and look what happened JUNK
secondly. legacy(old) nodes wont benefit from it. also old nodes will have more issues to contend with. such as seeing 'funky' transactions. aswell as still not being able to trust unconfirmed transactions due to RBF and CPFP.
..
fifthly, the 4mb weight. is only going to be filled with 1.8mb tx +witness data. leaving 2.2mb unused. but guess what. people will use it by filling it with arbitrary data. such as writing messages, adverts, even writing a book into the blockchain. what should have been done was allow 2mb base thus needing ~3.6mb weight.. and also adding a rule that 'messages' could not be added. thus keeping the blockchain lean and utilised just for transactions and not novels/adverts/messages. afterall if a communication tool like twitter or SMS can limit how much someone writes.. then so should bitcoin.
we will definetly see people purposefully bloating up the blockchain with passages of mobydick or over nonsense. and core have done nothing to stop it but done everything to allow it.

sixthly, as i slightly hinted before. by not limiting sigops, not preventing arbitrary data being added, core have incentivised bloating by discounting it. but have then added the fee's to reduce bitcoins utility of an actual transaction ledger..
this has to be emphasized over and over.. adding bloat is discounted(free) but sending a real transaction is costly
LN has bottlenecks and flaws that then require watchtowers and custodian hubs.. and look whats happening, majority of LN nodes are centralised custodian hubs

you may not like that i dont ass kiss things.. but there are too many ass kissers already. people actually want to learn how things actually work and not just be told the utopian sales pitch

i sorry if im ruining anyones opportunity to syphon money from victims of these flaws, but im more sorry for the victims getting fund syphoned from folk that care more about greed than a payment system thats secure

I doubt that your sticking to the same complaints makes you any kind of a genius. I am thinking that you probably have not even tried anything related to lightning network?  such as running a node or using any of the lightning network wallets?  My own experiences still are pretty limited, but I try to follow some of the lightning network happenings, to the extent that I understand matters.. sometimes it can be more difficult to follow some of the discussion if you are not using some of the systems that are being discussed..