7 upvotes, 7 direct replies (showing 7)
View submission: ⚡️ needs you. Yes, you.
This. So much. I can't understand why everyone here thinks that LN will magically solve the scaling problem. In addition to what you said, LN by design will create centralization. There's no monetary incentive to open multiple small channels to different people / hubs. Quite the opposite, the high fees will incentive people to open large and as few channels as possible.
LN might help a little bit when it comes to regularly sending funds to payment services or exchanges, but what about in the other direction?
Maybe I haven't understood this correctly, but why would anyone open thousands of channels (and tie their BTC into those channels) so that they can pay individual people?
Comment by ysangkok at 25/12/2017 at 18:52 UTC
1 upvotes, 0 direct replies
Did you see this paper? It addresses exactly the issues you are worried about. Channel Factories
Comment by zygsm at 25/12/2017 at 00:13 UTC
0 upvotes, 1 direct replies
It's not a problem, you can easily use other node. Bad centralisation is when you have no much choice but to use the selected central node or one of small group.
Comment by im_mr-Meesee_look at 25/12/2017 at 00:29 UTC
0 upvotes, 0 direct replies
For what it’s worth I’m struggling to see LN be the magic bullet. It seems like a solution that needs to be worked on in parallel to core but from what I understand it’s the main talking point here. Difficult to know for sure if just because it’s a popular topic or because it’s cores main focus.
Comment by zygsm at 25/12/2017 at 00:13 UTC
-1 upvotes, 0 direct replies
It's not a problem, you can easily use other node. Bad centralisation is when you have no much choice but to use the selected central node or one of small group.
Comment by zygsm at 25/12/2017 at 00:13 UTC
-1 upvotes, 0 direct replies
It's not a problem, you can easily use other node. Bad centralisation is when you have no much choice but to use the selected central node or one of small group.
Comment by im_mr-Meesee_look at 25/12/2017 at 00:29 UTC
-1 upvotes, 0 direct replies
For what it’s worth I’m struggling to see LN be the magic bullet. It seems like a solution that needs to be worked on in parallel to core but from what I understand it’s the main talking point here. Difficult to know for sure if just because it’s a popular topic or because it’s cores main focus.
Comment by im_mr-Meesee_look at 25/12/2017 at 00:30 UTC
-1 upvotes, 0 direct replies
For what it’s worth I’m struggling to see LN be the magic bullet. It seems like a solution that needs to be worked on in parallel to core but from what I understand it’s the main talking point here. Difficult to know for sure if just because it’s a popular topic or because it’s cores main focus.