Feel free to cite where it says that lightning transactions get written to the blockchain.
And no, a channel closing doesnât contain any lightning transactions, in fact a channel can be held open indefinitely and billions of transactions can go over it, none of them get written to the blockhain.
I opened the channels for my node with 1 sat/vbyte, cost me like $0.1. And now I can do as many transactions as I want for as long as I want for a fraction of a sat in fees, with instant finality.
But apparently that shouldnât work according to you.
You do understand that lightning transactions are not finalized and do not transfer bitcoin to your wallet until the results are written to the blockchain, right?
Not really, but, they like teaming up with people when those they targets are not in on their opportunity, hoping the army wonât notice, and trying to keep them imprisoned to do their bidings.
As soon as those they donât want try to join in on it with them,
they trash it and design a new system to marginalize them,
again,
as illegally as it was before,
and still against international law,
and post WWII peace treaties.
There will be nothing new there.
â
Itâs the same monopoly charges IBM, AT&T, Microsoft, Apple, Google, and Facebook are facing, for the same reason, and with the same Sherman act.
Lightning transactions happens on the lightning network and they are finalized on the lightning network. If you send me some Sats with lightning the transaction is finalized, meaning I can go on to spend those coins again on the Lightning network. That is what finalized means.
It doesnât mean I have to close the channel, that would make zero sense and yes in that case it would be an extremely stupid concept. There is no need to close the channel unless I no longer want to connect to a certain other node. I can go on and use that channel for years, for the lifetime of the node actually.
Interaction with the base layer is only necessary to open/close those channels or change liquidity of this channels if the need arises. It is not required for individual transactions on Lightning to be finalized.
To even suggest that you need to close the channel to actually get the coins to a wallet shows either some severe lack of understanding about the whole concept or is just a really stupid attempt to try to make it look like you still have some argument left (which you donât)
So again, how am I paying for the main chain with my lightning transacions?
Guns were there to defend property. Since that is going away gradually for usual Joe in USA, guns will not be needed anymore, not in such number or character as used before.
There are two options basically: USA will have to survive a revolution that will cause cancelling of the debts and redistribution of wealth and land, cased by people with guns, or it will become an mass surveilance state where gun control is strict.
No. Keep investing. Our glorius leader Xin Jinping has given China the electrical capabilities to provide for more calculations. Over 64% of all calculations (hashes) are processed by Chinese servers. I always giggled like a little schoolgirl when bitcoinerminers answered me âthe peopleâ controlled the power that makes it possible to make an actual transaction. All your coins are belong to 'the peopleâs republic of China. The calculations will only increase, if only people outside of China mastered the skill of simple mathematics and strategy.
Since bitcoin is traced, the hashing and electricity use is not a secret. I donât care about how you secure your investments, one can build a forge and smelt silver into ignots. Takes power too, but at least you can trade it when you want. When is the next time the calculations become more complex? You seem to know a lot about the advantages but are quiet about the disadvantages. Extremely quiet, then reply shifty when confronted with facts. I am sorry you hate facts, please keep informing people with your âprofessional adviceââŚ
Iâm aware that the biggest part of the hashing power comes from china. I just donât see a problem with that. Wana let us all in on your china conspiracy? What other facts do I hate?
What exactly is going away? And guns were used as much as a way to procure food as for protection. Hard to hold off a horde with a flintlock, but does wonders for putting food on the table.
At least we can just focus on those two issues. Makes planning for either scenario much easier.
Then itâs ok. Like I said I donât care about bitcoins because I donât invest in them.
In the meanwhile I have read up on the very long thread here and I do see you have a lot of experience with bitcoins and can differentiate well between the different coins and the technology that drives them.
Just be aware that you, or any bitcoin enthusiast in general, have a coin that is controlled for over 50% by a country that could have opposite trade intentions than your country. And it is not impossible that their government could use it as a leverage against other countries. Trade embargoes are not a conspiracy theory, itâs power used by a government to negotiate with other nations so they can avoid war. It is in a way comparable with assets from other countries in banks of opposing countries. Itâs a risk, but investments like gold/silver, shares and bitcoins all have their advantages and disadvantages. I just like to point out there are disadvantages and am always met with evasive answers or âDonât listen to that guy, heâs a conspiracy theorist, just look at his stylish aluminum fedora! He just wants to make you sell your bitcoins to get you into the aluminum trade!â to which I generally reply âTin foil hats are cheaper and more durable.â.
Well first, my country is not in a trade war with China. And second, China is a pretty big country with a lot of different people, In the same way I do not expect every US citizen to have the same values, intelligence and behavior as their president or political system. The hash rate inside China is all over the place and those 70% are not concentrated but completely different operations, so âcontrolled by a countryâ is in my opinion completely misleading.
Also the feasibility and impact of a 50% attack on Bitcoin is largely exaggerated and misunderstood by most people.
Even for people not otherwise interested in crypto it may be a good option. It is a completely new extremely uncorrelated asset class that helps with diversification. A 1% exposure to Bitcoin has absolutely minimal risk and still potentially huge upsides. Think about it.
The intentions are to be the number one in worlds economy, to be the âgreatest country everâ, and for that they need soft power, they need open trade routes, they need to control currency. Being capable of controlling any cryptocurrency just ensures the goal.
Best for as many peops to know how to do technical stuff as possible to preserve not only the machines in the future but also humanity, bc⌠we sure do love to be dependent on our technological innovations.
