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Lightning removes any of the benefits of Bitcoin by being a traditional trusted payment system.
by minsc__and__boo 6y ago
Lightning removes any of the benefits of Bitcoin by being a traditional trusted payment system.
- j3th9n 6y agoLightning doesn't remove anything from Bitcoin, it only adds the option to make instant transactions as a second layer on top of it. If you want the benefits of Bitcoin, you can use the slower and 100% trustless Bitcoin network.
- minsc__and__boo 6y agoThe "instant" lightning transactions on top of Bitcoin are not instant. They're I.O.U.s that need to clear on the bitcoin network first. Lightning requires that you trust the person you're transacting with, otherwise you need to wait for it to clear bitcoin, meaning you may as well just use bitcoin or a more accepted, efficient trusted system. By trying to straddle both, Lightning is the worst of the both worlds.
- xur17 6y agoIf you think lightning is a "trusted payment system", you clearly don't understand how it works.
- minsc__and__boo 6y agoLightning is the same as writing checks. They are worthless transactions until they clear, so you have to make them with trusted parties. Otherwise you may as well just use bitcoin.