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Lightning is the same as writing a check. Until it's verified on the bitcoin network, it's just like a bank in that regard.
by bduerst 7y ago
Lightning is the same as writing a check. Until it's verified on the bitcoin network, it's just like a bank in that regard.
- I_am_tiberius 7y agoBut there's no way the bitcoin network doesn't accept the settlement. A bank can just throw checks away if they like.
- bduerst 7y agoBitcoin will not accept a settlement if the wallet no longer has funds. Banks throwing away checks is not a problem. Bouncing checks are a fraud problem, which is why most everyone have moved on from using checks is many situations. Lightning's solution is to just 'watch' everyone you do transactions with, which is a lazy, non-viable solution analagous to continuously watching an anonymous stranger's bank account when they write you a check.