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0 sats \ 3 replies \ @CheezeGrater OP 3 Jul 2022 \ parent \ on: Lightning is not Bitcoin's second layer bitcoin
The point of my title really is to get people thinking about the difference between a technical layer and a financial layer. Lighting is indeed a distinct technical layer from Bitcoin, like TCP/IP to HTTP.
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0 sats \ 2 replies \ @CheezeGrater OP 3 Jul 2022
Most importantly is the fact that Lightning Bitcoin is Bitcoin and not a side chain or separate coin.
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0 sats \ 1 reply \ @notgeld 3 Jul 2022
Are they really different if we speak about Bitcoin? Wallet of Satoshis is Bitcoin bank for example and it leverages instant settlement for its business. It would be too expensive for it to operate onchain.
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0 sats \ 0 replies \ @CheezeGrater OP 3 Jul 2022
If you are referring to technical layers vs financial layers then yes there is a very important difference, even though custodial wallets have custody of your sats, they pay out in sats, and not their own token.
A Bitcoin bank like Hal Finney imagined would be issuing its own second layer tokens.
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