And if you all beleive in the game theoretical fundaments of keeping bitcoin safe and allined then the flexibility of the blocksize is a small pice in this genius construct of Satoshi.
If you try to fix this artificially than you dont belive in bitcoins manifest and show your paranoidity or flawed interests (power?).
Topic: Lightening Network is a Trap. - page 2. (Read 1458 times)
You don't have to use Lightning Network if you don't feel comfortable with it.
There are a few other projects similar to Lightning Network in the making, and you don't have to use those also.
There are a few other projects similar to Lightning Network in the making, and you don't have to use those also.
Yeah. But if LN and others will be used heavily and blocksize stays as is (SW /1MB) then tx fees will explode to the sky and you will be forced by fee (fbf) to use it unless you are not a big whale.
Just use some other altcoin for small transactions.
you always have a choice.
"bigger blocks" do not cause massive centralisation
node consensus agree's to what is an acceptable blocksize. so the blocksize WILL NOT!!! explode into 'gigabytes by midnight' it will grow at a NATURAL rate that nodes majority can accept.
if only the BScartel fanboys realised that!!!
however with lightning, its about moving funds into contracts where there is a counterparty having dual control of your funds.
ALSO
when people put funds into an LN they are no longer bothered about the blockchain as their utility and daily use is then not on the blockchain. so most users of LN will just turn off their bitcoin full node and just use their LN SPV node.
this will cause more dilution of the bitcoin node count.
along with features like -no witness, pruned which those still running the full bitcoin node, if they trigger the no witness/pruned. no longer become full network nodes (analogy: torrent seeds) because they no longer hold the full validation data to allow others to get/sync.
..
in short
bigger blocks are not the threat because there will not be "GB by midnight" threat. but node dilution via people no longer running full nodes due to LN/no witness/pruning is a threat
..
as for worries of government control.
dont throw all your funds into LN contracts that are BScartel hub controlled. just put pocket money amounts in for daily/weekly spends and keep your main funds away from LN
node consensus agree's to what is an acceptable blocksize. so the blocksize WILL NOT!!! explode into 'gigabytes by midnight' it will grow at a NATURAL rate that nodes majority can accept.
if only the BScartel fanboys realised that!!!
however with lightning, its about moving funds into contracts where there is a counterparty having dual control of your funds.
ALSO
when people put funds into an LN they are no longer bothered about the blockchain as their utility and daily use is then not on the blockchain. so most users of LN will just turn off their bitcoin full node and just use their LN SPV node.
this will cause more dilution of the bitcoin node count.
along with features like -no witness, pruned which those still running the full bitcoin node, if they trigger the no witness/pruned. no longer become full network nodes (analogy: torrent seeds) because they no longer hold the full validation data to allow others to get/sync.
..
in short
bigger blocks are not the threat because there will not be "GB by midnight" threat. but node dilution via people no longer running full nodes due to LN/no witness/pruning is a threat
..
as for worries of government control.
dont throw all your funds into LN contracts that are BScartel hub controlled. just put pocket money amounts in for daily/weekly spends and keep your main funds away from LN
Let us for a few seconds assume that governments are behind lightening network, do you think Bitcoin is the only available digital currency in the world? when people see their coins are not under their own control then it is no longer called a decentralized currency.there is also the ability to fork whenever you'd like to. after they take control then what will be the next move to take control of LTC and other alts as well? they will need years and trillions to do that.
Both bigger blocksize and lightning networks increase centralization, but bigger blocksize increases centralization in an horrible way, anyone that isn't an idiot can see this fact, so lightning network is the best option we have if we want to see poor people using bitcoin too.
PS: I dont know the details of LN because im not an expert engineer in the field, but it's easy to assume that anything that isn't an onchain transaction decreases decentralization to a certain degree, but onchain with huge blocks is even a bigger mess since govs can shut down the network anyway.
PS: I dont know the details of LN because im not an expert engineer in the field, but it's easy to assume that anything that isn't an onchain transaction decreases decentralization to a certain degree, but onchain with huge blocks is even a bigger mess since govs can shut down the network anyway.
LN coin, RSK, MU2coin,... are all not real bitcoin. Discussed so manny times now again and again. Any 2nd layer stuff is not same in manny aspects as Satoshis bitcoin (security!!!)
You also should better go post in altcoin section. Not here.
You don't have to use Lightning Network if you don't feel comfortable with it.
There are a few other projects similar to Lightning Network in the making, and you don't have to use those also.
There are a few other projects similar to Lightning Network in the making, and you don't have to use those also.
Yeah. But if LN and others will be used heavily and blocksize stays as is (SW /1MB) then tx fees will explode to the sky and you will be forced by fee (fbf) to use it unless you are not a big whale.
Just use some other altcoin for small transactions.
you always have a choice.
Not needed if you free the on chain scaling. I also cannot find your limit minded advice in Satoshis white paper. i guess you post in wrong forum section...
Both bigger blocksize and lightning networks increase centralization, but bigger blocksize increases centralization in an horrible way, anyone that isn't an idiot can see this fact, so lightning network is the best option we have if we want to see poor people using bitcoin too.
PS: I dont know the details of LN because im not an expert engineer in the field, but it's easy to assume that anything that isn't an onchain transaction decreases decentralization to a certain degree, but onchain with huge blocks is even a bigger mess since govs can shut down the network anyway.
PS: I dont know the details of LN because im not an expert engineer in the field, but it's easy to assume that anything that isn't an onchain transaction decreases decentralization to a certain degree, but onchain with huge blocks is even a bigger mess since govs can shut down the network anyway.
Don't be daft.
Its a double edge I think. Implementing Lightning network will lead Bitcoin to be approved on ETF which eventually will help the price to rise up which is what we all want but at the same time can be a serious threat when it comes to tax and centralization.
Lightening Network is a Trap?
Just finished reading about Lightening Network on the Internet, to be frank, am not comfortable with what I just saw.
Am beginning to think that Lightening Network is a Government tool or idea to have total control of all Bitcoin.
My questions:
1. Seems like only Signed Contract will be passing through Lightening Network and not the Bitcoin itself, right?
2. Will government be able to cease people's Bitcoin after implementation of lightening Network if they wish to?
3. Is Lightning Network implementation mandatory or just optional?
Here are what am sure will happen if Lightening Network is mandatory:
* Government will be able to Monitor all Bitcoin transaction.
* Every single Bitcoin company will be forced to obtain license before using the Network
* Finally, Government can able to stop all Bitcoin transaction any time & as long as they want.
Just finished reading about Lightening Network on the Internet, to be frank, am not comfortable with what I just saw.
Am beginning to think that Lightening Network is a Government tool or idea to have total control of all Bitcoin.
My questions:
1. Seems like only Signed Contract will be passing through Lightening Network and not the Bitcoin itself, right?
2. Will government be able to cease people's Bitcoin after implementation of lightening Network if they wish to?
3. Is Lightning Network implementation mandatory or just optional?
Here are what am sure will happen if Lightening Network is mandatory:
* Government will be able to Monitor all Bitcoin transaction.
* Every single Bitcoin company will be forced to obtain license before using the Network
* Finally, Government can able to stop all Bitcoin transaction any time & as long as they want.
It might be. Good thing we can just ignore it.
Both bigger blocksize and lightning networks increase centralization, but bigger blocksize increases centralization in an horrible way, anyone that isn't an idiot can see this fact, so lightning network is the best option we have if we want to see poor people using bitcoin too.
PS: I dont know the details of LN because im not an expert engineer in the field, but it's easy to assume that anything that isn't an onchain transaction decreases decentralization to a certain degree, but onchain with huge blocks is even a bigger mess since govs can shut down the network anyway.
PS: I dont know the details of LN because im not an expert engineer in the field, but it's easy to assume that anything that isn't an onchain transaction decreases decentralization to a certain degree, but onchain with huge blocks is even a bigger mess since govs can shut down the network anyway.
You don't have to use Lightning Network if you don't feel comfortable with it.
There are a few other projects similar to Lightning Network in the making, and you don't have to use those also.
There are a few other projects similar to Lightning Network in the making, and you don't have to use those also.
Yeah. But if LN and others will be used heavily and blocksize stays as is (SW /1MB) then tx fees will explode to the sky and you will be forced by fee (fbf) to use it unless you are not a big whale.
Just use some other altcoin for small transactions.
you always have a choice.
You don't have to use Lightning Network if you don't feel comfortable with it.
There are a few other projects similar to Lightning Network in the making, and you don't have to use those also.
There are a few other projects similar to Lightning Network in the making, and you don't have to use those also.
Yeah. But if LN and others will be used heavily and blocksize stays as is (SW /1MB) then tx fees will explode to the sky and you will be forced by fee (fbf) to use it unless you are not a big whale.
You don't have to use Lightning Network if you don't feel comfortable with it.
There are a few other projects similar to Lightning Network in the making, and you don't have to use those also.
There are a few other projects similar to Lightning Network in the making, and you don't have to use those also.
Lightening Network is a Trap?
Just finished reading about Lightening Network on the Internet, to be frank, am not comfortable with what I just saw.
Am beginning to think that Lightening Network is a Government tool or idea to have total control of all Bitcoin.
My questions:
1. Seems like only Signed Contract will be passing through Lightening Network and not the Bitcoin itself, right?
2. Will government be able to cease people's Bitcoin after implementation of lightening Network if they wish to?
3. Is Lightning Network implementation mandatory or just optional?
Here are what am sure will happen if Lightening Network is mandatory:
* Government will be able to Monitor all Bitcoin transaction.
* Every single Bitcoin company will be forced to obtain license before using the Network
* Finally, Government can able to stop all Bitcoin transaction any time & as long as they want.
Just finished reading about Lightening Network on the Internet, to be frank, am not comfortable with what I just saw.
Am beginning to think that Lightening Network is a Government tool or idea to have total control of all Bitcoin.
My questions:
1. Seems like only Signed Contract will be passing through Lightening Network and not the Bitcoin itself, right?
2. Will government be able to cease people's Bitcoin after implementation of lightening Network if they wish to?
3. Is Lightning Network implementation mandatory or just optional?
Here are what am sure will happen if Lightening Network is mandatory:
* Government will be able to Monitor all Bitcoin transaction.
* Every single Bitcoin company will be forced to obtain license before using the Network
* Finally, Government can able to stop all Bitcoin transaction any time & as long as they want.
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