Bitcoin : Just learned what LN is and i am shocked
So i just watched a short video explaining what the LN is and how it works.
I have heard talks and other things about btc and bch, but this new insight really made me mad at the old btc devs.
The video i have watched: [https://www.youtube.com/watch?v=rrr_zPmEiME](https://www.youtube.com/watch?v=rrr_zPmEiME)
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The way i understand it LN works similar to Paypal let me explain.
Sometimes services ask for permission to charge your Paypal account on a monthly basis.
This i think is similar to the payment channel on the LN, but instead of JUST giving permission you have to deposit something into the payment channel and then confirm the transaction.
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What i find extremely frustrating is this, the video said btc has a cap of 7 transactions a sec.
Even with these payment channels, i think no sane person would deposit money onto a channel to buy something and leave the rest, unless its a regular bill or something.
I know i would not, so i deposit onto the payment channel use the LN, once done i close the channel.
That means the btc chain will still be used quite often for a lot of people.
And the other thing is, unless LN is EVERYWHERE and you cannot use the regular old way and send btc wallet to wallet, there is no way people would not use regular wallet to wallet transactions, and people that want to harm the btc network could also just use the old way.
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So for me this coupled with the fact that LN will take ages to get implemented everywhere is pretty bad news.
I have to say i also dont like bch too much, not because of the tech, but because of all the “leaders” it has and the shady stuff they do all the time.
But at least it works, right now, no wierd other stuff.
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Well yeah thats it, pretty SHOCKED if this is ture.
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Author: elnoxx2
Score: 43
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