• Kecessa@sh.itjust.works
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        1 year ago

        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

        • SwingingKoala@discuss.tchncs.de
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          1 year ago

          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.

            • SwingingKoala@discuss.tchncs.de
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              1 year ago

              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.

              • Kecessa@sh.itjust.works
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                1 year ago

                Ok, so you ignored what I said.

                China could have seized all mining equipment just by deciding to nationalize the industry instead of banning it, boom, 51%+ of the hashrate in the hands of the Chinese government. What were Bitcoin maximalists saying at the time? Fuck dick, as long as the price goes up, who cares about the tech behind it?

                • SwingingKoala@discuss.tchncs.de
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                  1 year ago

                  could have

                  Yes, and the sky could fall on our heads.

                  It didn’t happen, and it can’t happen any more.

                  What were Bitcoin maximalists saying at the time

                  They always knew miners are super mobile.

                  • Kecessa@sh.itjust.works
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                    1 year ago

                    “It can’t happen anymore”

                    Except they Chinese hashrate went back up even though mining is still illegal… Which begs the question… Did the miners really move out of China or did they simply hide the fact that they’re in China?