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View submission: ⚡ Lightning Network Megathread ⚡
Interesting point. This does resolve the dispute resolution problem, but people still won't keep their savings on a BTC exchange without some sort of guarantee that if the exchange is hacked their balance will still be honored.
This could theoretically be achieved with insurance -- a la FDIC -- without any changes to the protocol, but in practice such insurance will be very expensive and there's no guarantee the insurance company itself won't go bankrupt if the heist is big enough.
Like it or not, one major advantage of the dollar and legacy banking system is that nearly every trasnaction is reversable via rule of law. Of course this leads to a myriad of other problems (which bitcoin solves), but without this peace of mind an overwhelming majority of people will not make the switch.
There's nothing here!