The only people that think this is correct are ones that learned about crypto 5 years ago and never thought to update their information. The lightning network allows for tiny bitcoin transactions with sub one cent transaction fees. In addition to that, the transactions happen in less than a second.
It’s also centralized and just a bandaid over an issue that could have been solved if Bitcoin had stayed true to its original intention, i.e. digital cash, not a fake store of value.
Heck, Bitcoin itself had the majority of its hashrate coming from a dictatorship where the state needs to have a representative in all major companies… One move and the Chinese government had control over the network.
Nobody is forcing you to use the big nodes. Saying lightning is centralized because of that is like saying bitcoin is centralized because exchanges hold coins.
Yes, because it is even more wrong. One of the most mobile industries in the world that seeks cheap power concentrates where that cheap power is available. China ban bitcoin, miners moved away. Miners can always simply move somewhere else. That already happened and you don’t even know it.
Oh sorry if I don’t keep up to date to the daily movement of Bitcoin… I mean, I wouldn’t have because it’s a store of value and the basic principle of a store of value is the ability to use it and be guaranteed to have what you put in or close to it…
Sigh, you’re wrong again, bitcoin has the potential to be a store of value, it’s not one yet as it keeps going up long term until the market will have found a fair value.
As long as you have a channel with that person preconfigured and funded right? Otherwise you need to do an on chain transaction with on chain fees to set up that sub one cent transaction.
Shhhh, don’t point out how there has to be a large pool of the currency sitting in someone’s account and that the person often disappears with it all or spends it. That upsets their narrative. No regulation or oversite is GOOD.
The only people that think this is correct are ones that learned about crypto 5 years ago and never thought to update their information. The lightning network allows for tiny bitcoin transactions with sub one cent transaction fees. In addition to that, the transactions happen in less than a second.
It’s also centralized and just a bandaid over an issue that could have been solved if Bitcoin had stayed true to its original intention, i.e. digital cash, not a fake store of value.
Nothing about lightning is centralized, unless you think bitcoin itself is centralized.
https://www.reddit.com/r/btc/comments/s3tvox/is_lightning_network_decentralized_why/
Great explanation by someone who isn’t a maximalists. Sorry but yes it is.
Haha. Fees are high and it’s impossible to open a channel because of that? That’s beyond stupid…
No, it’s centered around large nodes, that’s the point they’re making.
Over 50% of the network’s capacity in the hands of 5 entities?
https://www.reddit.com/r/btc/comments/vo86ki/over_half_of_all_lightning_network_capacity_is/
Shit’s decentralized as fuck yo!
Heck, Bitcoin itself had the majority of its hashrate coming from a dictatorship where the state needs to have a representative in all major companies… One move and the Chinese government had control over the network.
#decentralization
Nobody is forcing you to use the big nodes. Saying lightning is centralized because of that is like saying bitcoin is centralized because exchanges hold coins.
Did you ignore the second part of what I said? 🤔
Yes, because it is even more wrong. One of the most mobile industries in the world that seeks cheap power concentrates where that cheap power is available. China ban bitcoin, miners moved away. Miners can always simply move somewhere else. That already happened and you don’t even know it.
Everyone who believed this was true lost a lot of money betting on Bitcoin Cash.
Oh and show me people who bought Bitcoin in early 2021 that haven’t lost cash please.
Man, why is every one of your comments just wrong?
01.01.2021: 23902
today: 26143
Oh sorry if I don’t keep up to date to the daily movement of Bitcoin… I mean, I wouldn’t have because it’s a store of value and the basic principle of a store of value is the ability to use it and be guaranteed to have what you put in or close to it…
Sigh, you’re wrong again, bitcoin has the potential to be a store of value, it’s not one yet as it keeps going up long term until the market will have found a fair value.
As long as you have a channel with that person preconfigured and funded right? Otherwise you need to do an on chain transaction with on chain fees to set up that sub one cent transaction.
Shhhh, don’t point out how there has to be a large pool of the currency sitting in someone’s account and that the person often disappears with it all or spends it. That upsets their narrative. No regulation or oversite is GOOD.