30 sats \ 6 replies \ @DarthCoin 21 Apr \ parent \ on: Sunday Survey: What were you doing at halving block 840,000? bitcoin
Are you still celebrating seeing this?
Darth, I’m scared.
I’ve thrown my life behind this tech, BTC and Lightning, and a bunch of scammers, n00bs and spammers have systemically attacked this all of 2023, and now the fucked up the halving. I’m worried my channels will bleed out before the adversary runs out of resources.
Maybe LN can’t work when you have a global spam adversary. I’ve said for a bit that burning the entire value of a UTXO on fees will always compete with economical txs.
I think the security model is broken given this adversary.
reply
As I always said: Bitcoin is only for brave and knowledgeable, is not for the weak.
reply
I am brave, but feeling unsure. Having live, public LN channels, I feel a much greater vulnerability to loss of funds from timeouts. I think you may be ultimately correct about your position of running only private nodes with private channels and route hinting. My fear is that this will lead to balkanization of capital, and the emergent cartels to protect it. We need public routing capital, but this is looking increasingly like a large service providers are the only players with the risk appetite to burn sats.
And then my feeling about building L3 technologies on an unstable L2. It seems such a regression to have to deal with on-chain dogshit spam from a decade ago while folks are building out entire new cryptosystems to encode satoshi-denominated value.
I think the value if anything has shown allegiances - like other controversial social attacks against Bitcoin, we see where exactly who is backing whom.
Your resolve to Bitcoin seems absolute, but i can tell this has rattled you too.
I'm sure we have both seen many a battle onchain in our time, and this battle will fail for the spammers, as all others have, in time.
reply
All these aspects you are mentioning are just normal struggles for a new technology software.
Bitcoin is just a young boy, barely 15 years old, still a lot to learn and fight. Is barely growing his muscle mass, is not ready to fight in real battle.
LN is even a smaller on, is just a baby, 5 years old, trying to formulate an intelligible phrase.
Bitcoin and LN are all the time attacked, but that is not the real problem here.
THE REAL PROBLEM FOR BITCOIN
Is the people. Their level of knowledge, their willing to learn more, their level of open mind and most important thing: their willing to be free. I mean REAL FREE, not just in words.
What will kill Bitcoin?
COMPLIANCE to anything a gov or any other agency will say.
Nothing else will kill Bitcoin.
For more people will tend to obey any gov, less powerful will make Bitcoin.
reply