here we go again another poke at the bear from the same buddy group derailing the topic. but ill bite
WINDFURY take this as a respectful message
go actually research LN outside the scope of just asking your certain buddies.
i kind of doubt you even watched the video from the lightning developers themselves
as it has become very apparent that a certain group is becoming an echo chamber only wanting to promote the fluffy cloud and unicorn over promises of another network
if you think LN is the bitcoin network. ask yourself what N stands for in LN.. lightning is not abbreviated to BNF(bitcoin network feature).. LN is not a blockchain either. and its not something that will fail if no bitcoiner used it.
LN is not dependant on bitcoins network. it is a separate network for multiple coins to vault up and be pegged into
(the 12 decimal payments are the pegged tokens)
LN will continue to run without bitcoin.
by chainhash that is an identifier buzzword so that (lets call them) masternodes can monitor multiple chains. by knowing
which chain is which.
LN is not coded to be just a bitcoin feature. its not for just bitcoins benefit, its not to make bitcoin unique
by masternode i mean a node thats a fullnode of many blockchains not just 1
(which is comedy itself. "full node of just bitcoin will become too big" bitcoin cant cope.. but LN masternodes will be fine being full node of many chains)
its funny because if LN nodes can cope with 3+ chains then nodes can cope with 1chain.
meaning if people can be masternodes of many chains they can be fine with being it for just 1.. which counters the rhetoric of one network is 'too big')
as it has become very apparent that a certain group is becoming an echo chamber.
research eltoo factories. not with the fluffy unicorn mindset of finding buzzwords like "oh look they called it eltoo to it must be a L2 thing" (thats just sponsorship buzzwordatory games that many play to gain investment by throwing in the word bitcoin into everything. EG coinbase and circle do it. yet they are fiat businesses handling different currencies. not sole services aiming at serving bitcoin alone to make only bitcoin have unique offerings)
so respectfully
look beyond the unicorn buzzwords with a critical mindset, look behind the buzzword illusion, and find the realistic stuff.
now lets take factories
onchain | offchain
(1)user->factory(vault UTXO) | (2)factory(vaultutxo)&factoryhub(12dec peg)
| ->(3)factoryhub&user->(4a)user&partnerA
| ->(4b)user&partnerB
| -> (4c)user&partnerC
^ ^
each->is a step AWAY from a tx that holds a onchain UTXO
i know what your next thinking.. that partner C holds co-signature control of users initial state 2 and 3 for security..
but no. for "privacy" they dont want the factory to be part of a 3-of-3 multisig where factory(hub) sees every payment users and partners do. where it would then require factory to sign off on each state change of the channel
also user wont be able to open channels with partner A and partner B
as then states 2 and states 3 become 5-of-5 multisigs making things more complex
and partner C doesnt want 'user' to broadcast back to bitcoin easily. hense why when closing a channel 'user' has to go back to factory and factory then decides if something should be broadcast. factory would notify C if user gave factory a close request (all off chain) and 'user' only then gets to sign a (2) close state to get back to (1) if factory agrees
emphasis: user C wont get sign off control of 'users' 2,3 but would be presented with OFFCHAIN UNCONFIRMED listing of
1,2,3,4 .. purely to show taint. (requiring trust) that 'user' hasnt secretly given more of the (3) value to another channel
because C is trusting factory will notify C if 'user' was playing games in other channels with funds that are meant to be for the 4c channel.
the whole point of factories is to have the factoryhub(3) aggregate transactions(4) and re-release a non blockchain payments(3) so that user channels(4) dont need to broadcast to the network to close channels.
they simply adjust 12 decimal payments between 3 and 4 to close a channel and re-open another channel with either the same person or a different person
or then request closing the user/factory hub(3) channel. to then get to a 8 decimal state(2) that can be signed out and put back to a coin networks blockchain
yes fluffy unicorn crowd will spin the positives. of less utility requirement of bitcoins network
but learn the critical concern of such too less utility of bitcoins network
if you think you can walk into starbucks and buy a coffee where by your using a LN masternode.. then ill laugh at whichever unicorn buddy told you so.
users will end up with phone apps that rely and trust on a server(factory) to monitor the blockchain
the best analogy for you to understand is user channels are like electrum litewallets. that communicate to electrum servers. whereby the electrum server decides if it should relay the transactions to the bitcoin network.
we already had in this debate about the min fee issue of transactions not getting around and not put into mempools. and many people complain that if the fee's are not right then a tx isnt sent..
even things like bread wallet. if the transaction doesnt use segwit outputs they wont relay transactions
and yes
the factory(masternodes) will be the "severs are needed" making a network centralised" argument that they play on bitcoin.. funny thing is taking utility away from bitcoin, to avoid bitcoin being a "server for 1 chain" by
wait for it....
... using an alternative network of "server for 3+chains".......
its funny because is not giving people more control. its giving them less control by locking funds into such network that is going to be more centralised
ill word it differently
ln promoter: "bitcoin will become servers we need another network to reduce bitcoin utility to avoid this"
btc realist: "maintaining 1 chain? you want another network that maintains multiple coins"
ln promoter: "yes"
btc realist: "and these masternodes of LN how many chains will they maintain"
ln promoter: "3+, but shhhh we need to reduce bitcoin utility"
btc realist: "but LN then becomes a network of server nodes of +3 requirements"
ln promoter: "yes, but shhhh we need to reduce bitcoin utility"
again you may think that people can run up just a lightning node for just bitcoin. but lightning nodes are already being coded as masternodes that by default have code for monitoring bitcoin and litecoin (look at previous post that already has the litecoin chainhash in its codebase by default)
imagine it this way
99% of users will be phone app litewallets using factories
0.9% master users wanting to be factories to earn some income just downloading the compiled .exe as they are not tech savvi.
0.1% will be tech savvi devs that will play around and not be default masternodes but able to code their own single chain independent use nodes that dont use factories nor litewallet
and if you think you will be one of the popular factory nodes. well forget it. coinbase, circle will as they along with blockstream
have been given hundreds of millions in investment over the years and the investors want some ROI
(why do you think the gameplay of the NYA agreement happened with the 3 card trick(NYA,UASF,bilateral) in 2017 played out like it did)