reply on: Fake L2 scams like Ark, Spark, Citrea, Drivechains, and others are Shitcoins 2.0 \ stacker news ~bitcoin

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112 sats \ 1 reply \ @petertodd 9h \ parent \ on: Fake L2 scams like Ark, Spark, Citrea, Drivechains, and others are Shitcoins 2.0 bitcoin

"Other ways" being from another Ark user that either A) got the sats themselves first through a trusted Lightning swap or B) used the chain when they could have instead opened a real Lightning channel

Nope. You clearly don't understand how Ark works.

As I said, in the current implementation you can get settled funds easily by doing any on-chain transaction. Either sending or receiving on chain funds.

Once more Ark rounds are common, you'll also be able to get settled funds by waiting until someone else needs to do an on-chain transaction and piggybacking on theirs. This option is much more efficient in terms of on-chain transactions, at the cost of tying up liquidity (in many, but not all, circumstances). For many use cases waiting N blocks for fully confirmed funds is perfectly fine.

Sorry, but Ark just isn't clearly bullshit like Drivechains is. It's worth investigating. It may not fully pan out, and probably will only ever be useful for a subset of applications. But hate at this stage simply isn't warranted.

0 sats \ 0 replies \ @justin_shocknet OP 9h

Nope. You clearly don't understand how Ark works. As I said, in the current implementation you can get settled funds easily by doing any on-chain transaction. Either sending or receiving on chain funds.

I literally used the example of chain transactions IN, I assume by out your meaning an exit, which is obviously chain security. There's just no reason for these chain transactions not to be real Lightning channels since there's a similar chain cost in either case.

This option is much more efficient in terms of on-chain transactions

One input to multiple outputs, no different than existing Lightning batch opens + an inevitable exit.

Ark just isn't clearly bullshit like Drivechains is ... hate at this stage simply isn't warranted.

Maybe it could have been that way, but take that up with ArkLabs marketing geniuses that overstepped and have had to narrative pivot constantly.

I will concede that Paul is a clown of the highest order.

I haven't seen Second labs make such retarded claims, but they're flirting with it.

There's a clear intent to fud Lightning exactly as Paul does.