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7578769 No.7578769 [Reply] [Original]

Can we take a bit to talk about how retarded an idea the Lightning network is?

Before the bcash faggots flood this thread with shit about their dumb fork (called Bitcoin ABC, in truth) I just want to make it clear that regardless of the increase in block size or not, the Lightning network is particularly retarded all on its own.
Who would choose to make a payment network that gets rid of all the upsides of Bitcoin in the first place?

Like, when the hell would you ever think "yeah making people have to open 'payment channels' with the people they want to pay IN ADVANCE with the UPPER LIMIT of what they'll ever expect to pay at once" is a good idea?

>> No.7578923

Reeeeeeeeee, not even with a hot lady does anyone acknowledge the shittiness of this lightning network crap since Blockstream had Jewed everyone into thinking it is the next logical step in Bitcoin development, even though it needs large, central, regulated, high liquidity hubs (basically fucking banks or big companies) to run

>> No.7579068

>>7578923
Well what do you want us to say? You think you're going to find a single person defending the lightning network here?

>> No.7579094

haven't you heard their new slogan "you want it you got it" hope you guys are happy with your new and improved Bitcoin Segwit with Lightning Network

>> No.7579134

>>7579068
Well thank you anon this at least gives me hope

>> No.7579196
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7579196

>>7579094

>> No.7579879

How will LN be centralized with large liquidity hubs? anyone can create their own hub right?

>> No.7579900

>>7578769
It's actually hilarious, it's like admitting defeat.

>> No.7579949

everyone here knows lightning network is vile kikery at its worst

>> No.7580079
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7580079

>>7578769
>when the hell would you ever think "yeah making people have to open 'payment channels' with the people they want to pay IN ADVANCE with the UPPER LIMIT of what they'll ever expect to pay at once" is a good idea?
But that never was the problem with the LN...

On the other hand...
> Who would choose to make a payment network that gets rid of all the upsides of Bitcoin in the first place?
The Lightning will completely eliminate the Blockchain
BTC's end game is to slowly transition from BTC to BTC 2.0 which will be PoS, without hard-forking, ever (that way Blockstream will have full control), such that the only thing that will remain the same is the ledger. Blockstream doesn't give half a flying fuck about btc and its holders, it wants to sell proprietary solutions for fiat: https://blockstream.com/liquid/
Also Blockstream will make btc price drop like crazy with the lightning network because it will join btc in the pool of ALL LN settlement tokens: from 21 million you'll get 24 BILLION coins, all indistinguishable as 'LN store of value tokens'. Even Richard Heart the Bitcoin maximalist renounced his faith in Core and dumped his btc because of it.

>> No.7580119
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7580119

>>7579900
see >>7580079
The LN will join all Kosher coins together so people could easily move to other coins to get the functionality, but that will also make the btc price plummet.