The Lightning Network

[Anonymous No.29084456]

The reason BTC has small blocks and altered transaction ordering is to limit throughput and rise barriers to using the Blockchain. So instead of frictionless transactions open to everyone, we get a system where only (((billionaires and banks))) are able to use the Blockchain at scale. Even now most people cannot use the BTC Blockchain because of these limitations and rule changes. We are no where near scale. A fraction of a fraction of a fraction of the world is using BTC currently and things are this bad.

So, why the hell would BTC choose to do this to the protocol? It's pretty simple. Core (the developer group for BTC) receives much of its funding directly from (((bankers))). Miners geared more for short term profit than long term sustainability were easily persuaded to follow suit with this objective, whether they realize the end goal of these moves or not. Low information users were also propangaized into believing for the network to function and to maintain its security a majority of users must run and maintain listening nodes. Opposition to this was quickly silenced and suppressed on most forums discussing the issue and from developers on the project.

Now that Bitcoin no longer functions at all like it was originally designed to do users now need a solution so they can use BTC for payments. Well, the only solution to a network problem like this middlemen liquidity pools with lots of connections (banks) and that's exactly what The Lightning Network is.

[Anonymous No.29084523]

Why would banks want to do this? Well, it allows them to remain in the middle of the monetary system, but its more than simple parasitical practices to harvest fees. The real reason for this is to control access to the Blockchain. Users (unless they're very rich) will be forced to use banks to do transactions and all of those transactions will occur on a private ledger held by the bank. Banks will settle up those transactions on the Blockchain sometimes, but it really doesn't matter because they control all the economic activity that happens prior on their internal ledgers. This effectively gives them the ability to print as much fiat or IOUs for BTC as they want. Go ahead and call their bluff and withdrawal your BTC. Attempt to cause a run, but you will fall flat. Why? Because it costs tens of thousands to do a transaction and another week or two to complete it.

This is the exact same (((Goldsmith))) scheme we've seen in history. Bank holds X amount of gold and issues Y amount of receipts for gold. People get complacent and the bank issues more receipts than it has gold. Giving the (((Goldsmith))) immense power, the power over the currency. Sometimes people would catch on and demand their gold back causing a run on the bank, which often ended in fleeing or dead (((bankers))). The primary difference now is the (((bankers))) have devised a system in which a run cannot occur because the people don't even have the means to demand their Bitcoin. They are literally priced out of any actual ownership due to limitations and suppression of the protocol.

[Anonymous No.29084589]

>>29084456
John McAfee says that the Lightning Network won't save BTC from an early demise.

[Anonymous No.29084730]

https://soundcloud.com/yeethewarlock/sacred-economics-ep-3-pertinent-scalability

clown takes. learn more about bitcoin.

[Anonymous No.29085260]

>>29084523
true

[Anonymous No.29085295]

>>29084730
It's not, and you don't have a counter argument. It's unfortunate that BTC lost its way and the damage this has caused will and already has set us back years.