[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 794 KB, 2240x1260, what-is-lightning-network.png [View same] [iqdb] [saucenao] [google]
58394539 No.58394539 [Reply] [Original]

Can someone please explain this to me? My knowledge is limited even with respect to the base layer. LN just seems so convoluted and difficult to understand on a deeper level.

>> No.58394548
File: 337 KB, 800x778, Simple.png [View same] [iqdb] [saucenao] [google]
58394548

Lightning is attracted to metal
Networks are invisible metal
If you know you know

>> No.58394558

It's shitty spaghetti code. It smells
Bitcoin should just be thrown onto the dumpster.
There are dozen much better alternatives

>> No.58394810

>>58394558
>There are dozen much better alternatives
Could you name them?

>> No.58394854

>>58394810
XMR
> Has a purpose
> Somehow stable
> People uses it
> Actually private

>> No.58394867
File: 65 KB, 1824x782, Screenshot 2024-04-13 190003.png [View same] [iqdb] [saucenao] [google]
58394867

>>58394854
>stable
>better alternative
kek

>> No.58394880
File: 152 KB, 625x500, 4d Chess.jpg [View same] [iqdb] [saucenao] [google]
58394880

>>58394854
> Has a purpose
Yeah. Terrorism
> Somehow stable
Because anyone that tries to stop it gets terrorism attacked
> People uses it
Yes. To do terrorism
> Actually private
Because actual good people don't want to be associated with terrorists

>> No.58394883

>>58394854
>> Has a purpose
To bleed sats
>> Somehow stable
*dumps*
>> People uses it
No liquidity. Also nice ESL
>> Actually private
Black marble spam attack

>> No.58394960

>>58394880
Actual terrorists use US dollar
XMR will stay

>> No.58394983

>>58394883
Shut up glowie
XMR is based

>> No.58394989

>>58394867
you're braindead, get dumped

>> No.58395091

https://www.youtube.com/results?search_query=lightning+network+explained

>> No.58395681

>>58394539
So the point is to tack on this extra bullshit so then you have a bunch of points of control dictating who can write to the block chain, as it's otherwise unaffordable to send a transaction directly on chain. You can then control these intermediaries through KYC and related laws and then effectively blacklist undesirables and implement capital controls.

This limits the capacity of Bitcoin to function as a censorship resistant transaction network, furthering the interests of central banks and nations dependent on their fiat to survive.

Hong Kong/Chinese ETFs are another important part of the control of Bitcoin, as redemption of ETF shares for actual Bitcoin will be made impossible whenever needed, and simultaneously allow the PRC to seize substantial portions of the Bitcoin supply to stabilize the yuan if needed. Amusingly this is then accomplished with virtually no investment by China itself- investors participating in a Hong Kong ETF are entirely on the hook for capital and risk, but if Bitcoin proves successful the Central Bank will sweep in as needed to seize it all.