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Exchanges could act as channel factories, for example, today they batch a bunch of withdrawals into a single transaction, there's really no reason why they coul

Exchanges could act as channel factories, for example, today they batch a bunch of withdrawals into a single transaction, there's really no reason why they couldn't simply open a channel for each person in that. It can be a third-party or you could also run one yourself, there's nothing stopping you. I wouldn't be surprised to see counterparts, just like email is "mail on the internet", but there are also fairly novel concepts like flash loans which are just not possible in current financial system.

foepys 6y ago
You are just recentralising everything Bitcoin allegedly decentralized. It's ridiculous. Just pay cash, you are decentralized, are your own bank and can buy everything. Problem solved without Bitcoin. You won't get rich from just holding it, though, and we all know that this is really the only goal of cryptocurrency proponents.
- MrMan 6y ago
  Two goals Get rich Destroy trust
- rawtxapp 6y ago
  Everything is still de-centralized and you're the only person who has control over your funds. With cash, not only you won't get rich holding, the FED is determined to make sure it's value goes to 0. It seems like you've already made up your mind anyways.
- lmm 6y ago
  > Just pay cash, you are decentralized, are your own bank and can buy everything. How do you send cash over the internet though? That part is hard.
  - MrMan 6y ago
    I practice a lot
lambda_obrien 6y ago
Yes, it seems like flash loans are super legit... https://www.coindesk.com/the-defi-flash-loan-attack-that-changed-everything https://www.coindesk.com/the-defi-flash-loan-attack-that-cha...
- rawtxapp 6y ago
  These attacks also showcase the power that it gives and it will force the ecosystem to become stronger over time which arguably a good thing even though it suffers in the short term.
  - lambda_obrien 6y ago
    That's one way to look at it, sure. Another is that it's the wild west and normal people will get bankrupt.

foepys 6y ago

You are just recentralising everything Bitcoin allegedly decentralized. It's ridiculous. Just pay cash, you are decentralized, are your own bank and can buy everything. Problem solved without Bitcoin. You won't get rich from just holding it, though, and we all know that this is really the only goal of cryptocurrency proponents.

MrMan 6y ago
Two goals Get rich Destroy trust
rawtxapp 6y ago
Everything is still de-centralized and you're the only person who has control over your funds. With cash, not only you won't get rich holding, the FED is determined to make sure it's value goes to 0. It seems like you've already made up your mind anyways.
lmm 6y ago
> Just pay cash, you are decentralized, are your own bank and can buy everything. How do you send cash over the internet though? That part is hard.
- MrMan 6y ago
  I practice a lot

lambda_obrien 6y ago

Yes, it seems like flash loans are super legit... https://www.coindesk.com/the-defi-flash-loan-attack-that-changed-everything https://www.coindesk.com/the-defi-flash-loan-attack-that-cha...

rawtxapp 6y ago
These attacks also showcase the power that it gives and it will force the ecosystem to become stronger over time which arguably a good thing even though it suffers in the short term.
- lambda_obrien 6y ago
  That's one way to look at it, sure. Another is that it's the wild west and normal people will get bankrupt.