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> completely forgo all of Bitcoin's guarantees ah, he doesn't understand at all how lightning works. He's just repeating sound bites.
by djschnei 4y ago
> completely forgo all of Bitcoin's guarantees
ah, he doesn't understand at all how lightning works. He's just repeating sound bites.
- simiones 4y agoIt's the other way around: I took a look how Lightning works, and understood that, unless you open and close channels constantly, you don't interact with Bitcoin at all. Repeating soundbites you've just heard without understanding the system would be saying "LN fixes Bitcoin's speed problem". While a channel is still open, transactions happening on the channel aren't in any way protected by Bitcoin's guarantees (they get LN's guarantees, which are different). And those are the only transactions that have any speed boost.