pull down to refresh

201 sats \ 8 replies \ @HODL 12 Sep 2022 \ parent \ on: Lightning network centralization metrics bitcoin
It is obvious to me that LN will become regulated in the coming years.
More silly predictions? Stick to the facts, please
In order to aquire LN Bitcoin to use this site, I had to use a KYC exchange.
Wrong. You choose to buy it. If you choose to earn it, there would be no KYC.
Even if you get bitcoin from a non-KYC exchange, it probably was associated with at least one identity at some point, so feds can work backwards to trace who gave coins to who.
Wrong again. Sats over LN can't be linked to the sender. I already explained above. Keep up, please.
The transaction is not final until your channels are closed.
Wrong. The LN tx IS final at the moment it lands at your end of the channel.
Exchanges prefer LN because the on-chain fees are stupid high,
Wrong. $0.03 fees (mentioned above) on-chain aren't stupid high. Exchanges are also batching txs to save even more.
The price of bitcoin will need to double every halfening in order for BTC mining to be sustainable.
Wrong. It doesn't have to. "This is obvious to everyone in cryptocurrency with a functioning brain."
Let's say I'm a non-bitcoiner and I have a dollar worth of bitcoin on an exchange. How do I put that dollar into a non-custodial LN channel that I control without doing an on-chain withdrawl and having my dollar eaten by fees? Obviously the only thing I can do here is use bitcoin cusodially by sending it directly from my exchange.
Wrong. If you want to open a channel WITHOUT "doing an on-chain withdrawal", perhaps learn how LN or Bitcoin works. To get the dollar worth of bitcoin out of the exchange, you will have to do at least one on-chain transaction, unless you already have a channel open and the exchange does support LN.
write
preview
0 sats \ 7 replies \ @moneroshill 13 Sep 2022
Merely stating that my argument is wrong does not make it so.
To get the dollar worth of bitcoin out of the exchange, you will have to do at least one on-chain transaction, unless you already have a channel open and the exchange does support LN.
Yes, of course. This is the problem. How long does it take for 7 billion people to make an on-chain transaction and then open a lightning channel?
reply
100 sats \ 6 replies \ @HODL 13 Sep 2022
Does your 7 billion people, making on-chain transactions, include toddlers? That's exactly how ridiculous your argument is.
As I mentioned to you already:
What if some people choose to use self custody and some don't? Have you ever thought of that possibility?
reply
0 sats \ 5 replies \ @moneroshill 14 Sep 2022
It will take decades to open billions of lightning channels. Those toddlers will be young adults by the time that they are all able to open a lightning channel.
What if some people choose to use self custody and some don't? Have you ever thought of that possibility?
Oh, so basically like the existing financial system? This is obviously not what satoshi would have intended, you greedy fucking goober.
reply
0 sats \ 4 replies \ @HODL 14 Sep 2022
It will take decades to open billions of lightning channels
How can one person be wrong this much?
https://lightning.engineering/posts/2021-05-26-sidecar-channels/
Oh, so basically like the existing financial system? This is obviously not what satoshi would have intended,
No, basically like people are free to choose. Some prefer self custody, some are scared to be responsible.
you greedy fucking goober.
Ad hominem. It really shows your IQ 😂
reply
0 sats \ 3 replies \ @moneroshill 14 Sep 2022
They are not free to choose if it is infeasable to use bitcoin non-custodially.
You ARE too greedy. You are arguing against the original purpose of bitcoin to prop up your bags.
reply
0 sats \ 2 replies \ @HODL 14 Sep 2022
They are not free to choose if it is infeasable to use bitcoin non-custodially.
Yet, pointed above that self custody on LN currently cost $0.03. Pay attention, please.
You ARE too greedy. You are arguing against the original purpose of bitcoin to prop up your bags.
How are my bags going up or down related to the size of a block???
Are you OK?
reply
0 sats \ 1 reply \ @moneroshill 14 Sep 2022
Yet, pointed above that self custody on LN currently cost $0.03. Pay attention, please.
currently
How are my bags going up or down related to the size of a block???
Because bitcoiners like you will defend bitcoin's obvious weaknesses (block size) instead of improving them. Today's bitcoiners are obsessed with increasing the price of their bags to the detriment of bitcoin itself.
It was not always like this. You see this in the way that the discussion around bitcoin has completely changed:
https://static.news.bitcoin.com/wp-content/uploads/2018/08/visionsofbitcoin.pnghttps://i.imgur.com/pa4hOCN.jpeg
reply
0 sats \ 0 replies \ @HODL 15 Sep 2022
Yet, pointed above that self custody on LN currently cost $0.03. Pay attention, please.
currently
So again. You're predicting the future, while ignoring the past. Like a troll.
How are my bags going up or down related to the size of a block???
Because bitcoiners like you will defend bitcoin's obvious weaknesses (block size) instead of improving them. Today's bitcoiners are obsessed with increasing the price of their bags to the detriment of bitcoin itself.
HOW?? Can you factually answer the question, please. It looks like you can't, because it's just another thing you've made up.
It was not always like this. You see this in the way that the discussion around bitcoin has completely changed:
More generalisation, more made up fiction. Bitcoin is and always was a peer to peer electronic cash system. Your attacks to market your dying shitcoin isn't going to work, troll.
reply on another page