/biz/ - Business & Finance

>>4701308
>try it yourself
It's on testnet in alpha.

>bug
It's not a "bug"; it's a "feature" and that's because the lightning network is really just a banking protocol for the underlying hard asset with the locked "balance" in the channel acting as deposits. All the crypto-bank has to do at this point is say "if you don't have enough to deposit, you can just open a free account with us and we'll open a "channel" for you. The catch is that the litecoins you get aren't even fucking real except at the crypto-bank you bank with, because they're crediting your lightning-network account with litecoin that never even had a channel opened for it, it's just payments within the hub itself. The actual legit LTC they have will go to settlements with other large crypto-banks rather than to any customers, because why the fuck do customers really need real LTC; they don't transact on-chain anyway.

https://www.reddit.com/r/btc/comments/5ybx32/how_the_lightning_network_could_ultimately/?st=jao1cgkt&sh=d18355c5

Is there an easy way to convert my Google Play balance into coinage?
Canada btw