[bitcoin-dev] What Lightning Is

Hector Chu hectorchu at gmail.com
Tue Aug 11 09:01:13 UTC 2015


Lightning will never catch on as it basically demands that everyone who
uses it to become a speculator. Payment hubs and merchants will be at the
mercy of the bitcoin price while their funds stay locked up in payment
channels. This idea is a dead-end.

On 10 August 2015 at 22:43, Adam Back via bitcoin-dev <
bitcoin-dev at lists.linuxfoundation.org> wrote:

> In terms of usage I think you'd more imagine a wallet that basically
> parks Bitcoins onto channels at all times, so long as they are
> routable there is no loss, and the scalability achieved thereby is
> strongly advantageous, and there is even the potential for users to
> earn fees by having their wallets participate in channel rebalancing
> (where hubs pay users to rebalance channels - end up with the same net
> position but move funds from one user-owned channel to another.)
> Exchange deposit, withdrawal, payments, even in-exchange trades can
> usefully happen in lightning for faster, cheaper more scalable
> transactions.
>
> Adam
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> bitcoin-dev at lists.linuxfoundation.org
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