/biz/ - Business & Finance

BCore always FUDs their own cult with "let's change the PoW" when in reality they aren't going to do in the foreseeable future, while the tx's on the magical LN aren't even going onchain! That all goes to show Blockstream's real endgame isn't to succeed.

>>7481682
The problem with btc isn't that it doesn't follow thet original idea but far worse than that it made a critical mistake when it went 100% all into the LN which isn't likely to ever be used. Just compare btc with Ethereum and Monero, they will have their own LN but it'll be in addition to many other scaling solutions, they didn't put all their eggs in one solution which doesn't exist yet.

I could post about it for hours, but to sum it up, the LN ironically does NOT SCALE and in addition there are dozens of other problems with it. The LN in itself IS NOT EVIL, but it's used as an EXCUSE TO KILL BTC. It's just too technical for the average hodler to debate, which is what makes the plan so brilliant. They intentionally chose a scaling roadmap knowing will end in a big failure as a decentralized solution and then be solved using a banks, with the 2nd layer allowing for the same old fractional reserve system. The LN examples you see posted aren't fake, they are channels between two peers but they just don't solve anything in the real world (paying to someone you didn't know ahead you'll want to pay, and getting a high success rate without locking a substantial amount of BTC to fund many nodes). The BTC community has been misled for years. There will be NO SCALING SOLUTION for BTC in the next years, and to make sure there will be no solution by another team replacing them as an emergency rescue operation, they implemented segwit, a patch which will make everyone dependent on them and will prevent simply increasing the block.

You could always deposit your coins at a service that will allow you to transact using LN, which is most likely how it will work, due to having to a. add liquidity to a channel and b. Paying fees to open and close a channel.
Granted, we would be right back at having banks again, and trusting who you are depositing your coins with, in which I have zero interest.

Daily reminder everything comes from BCore mouth is cleverly disguised propaganda.