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Either the Lightning Network has found a solution to the routing problem which the entire internet has relied upon since 1989 [1], or the LN marketing is dising

by 0wing 9y ago

Either the Lightning Network has found a solution to the routing problem which the entire internet has relied upon since 1989 [1], or the LN marketing is disingenuous and the actual implementation will be nothing more than an excuse to extract wealth to centralized payment processor hubs, further distancing Bitcoin from the main design of electronic cash: "A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution." [1] http://www.washingtonpost.com/sf/business/2015/05/31/net-of-insecurity-part-2/ http://www.washingtonpost.com/sf/business/2015/05/31/net-of-...

SkyMarshal 9y ago
jstanley makes a very good point, especially considering that Bitcoin itself is a probabilistic good-enough solution to the Byzantine Generals Problem, rather than a perfect deterministic one. But you didn't even address jstanley's question, you just repeated the exact same talking points you posted higher up in this thread, hoping that readers can't tell the difference. That is not an honest debate, but propaganda. The constant repetition of talking points without actually addressing the critiques of those talking points may fool the gullible, but the technologically savvy see it, and it costs you your credibility with them. You guys are like Marco Rubio [1] constantly repeating the same talking points regardless what critiques are thrown your way. [1]:https://www.youtube.com/watch?v=b4-OTvTrw1A https://www.youtube.com/watch?v=b4-OTvTrw1A
- 0wing 9y ago
  I cited BGP. You've provided no technical details, only an ad hominem fallacy. Feel free to explain actual technical details of how LN does anything interesting, other than further centralize Bitcoin into centralized payment processor hubs? As per the LN white paper: 8.4 Payment Routing It is theoretically possible to build a route map implicitly from observing 2-of-2 multisigs on the blockchain to build a routing table. Note, however, this is not feasible with pay-to-script-hash transaction outputs, which can be resolved out-of-band from the bitcoin protocol via a third party routing service. Building a routing table will become necessary for large operators (e.g. BGP, Cjdns). Eventually, with optimizations, the network will look a lot like the correspondent banking network, or Tier-1 ISPs.

by 0wing 9y ago

SkyMarshal 9y ago

jstanley makes a very good point, especially considering that Bitcoin itself is a probabilistic good-enough solution to the Byzantine Generals Problem, rather than a perfect deterministic one. But you didn't even address jstanley's question, you just repeated the exact same talking points you posted higher up in this thread, hoping that readers can't tell the difference. That is not an honest debate, but propaganda. The constant repetition of talking points without actually addressing the critiques of those talking points may fool the gullible, but the technologically savvy see it, and it costs you your credibility with them. You guys are like Marco Rubio [1] constantly repeating the same talking points regardless what critiques are thrown your way. [1]:https://www.youtube.com/watch?v=b4-OTvTrw1A https://www.youtube.com/watch?v=b4-OTvTrw1A

0wing 9y ago
I cited BGP. You've provided no technical details, only an ad hominem fallacy. Feel free to explain actual technical details of how LN does anything interesting, other than further centralize Bitcoin into centralized payment processor hubs? As per the LN white paper: 8.4 Payment Routing It is theoretically possible to build a route map implicitly from observing 2-of-2 multisigs on the blockchain to build a routing table. Note, however, this is not feasible with pay-to-script-hash transaction outputs, which can be resolved out-of-band from the bitcoin protocol via a third party routing service. Building a routing table will become necessary for large operators (e.g. BGP, Cjdns). Eventually, with optimizations, the network will look a lot like the correspondent banking network, or Tier-1 ISPs.