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Anders
replied to post by Tide
· 68 days ago
I'm a BCH fan myself, and I think all use is welcome. I think Lightning is great for some things, but I don't like the way it's sold as an alternative to nearly all on-chain....
Channels are good for some things, LN is just a load of bollox, it's not P2P, and is nothing more than fractional reserve 2.0 in the making.
Anders
replied to post · 67 days ago
So if LN is bad, what kind of channels would you prefer? Just simple channels without routing?
Yes, payment channels have many use cases, even centralised routing though a single hub is not so bad for certain use cases. But is LN exclusive to BTC?
Anders
replied to post · 67 days ago
No it isn't, that's why what they are doing is a very stupid approach for their coin's survival. And yes I agree: in some cases centralization doesn't matter much, though we.....
Anders
replied to post · 67 days ago
... shouldn't be forced into it.
For stuff like game play where you deposit funds to use in game, although no real routing as just 2 tx with main hub, but tokeda does this better with token issuer adjusting balances
Anders
replied to post · 66 days ago
I haven't looked much into Tokeda. Doesn't it settle balance on the BCH blockchain?
Exactly, if LN can be used by multiple coins, why is BTC needed? They will just start accepting alt X (fiat tokens) to open channels cheaper than on chain BTC fee & then why use BTC?
That's right, Lightning Network will be equally insecure for all coins.
Anders
replied to post · 66 days ago
Exactly. LN won't save BTC - it will make it irrelevant.
Anders
replied to post · 68 days ago
... but this would indeed be a good use-case for LN. Only problem I see is you have to pay on-chain fees to open a channel.