1 upvotes, 1 direct replies (showing 1)
View submission: ⚡ Lightning Network Megathread ⚡
Except, I don't understand the use case here. If you transfer BTC from one exchange to another, the likelihood is because you want to sell that BTC for another currency (otherwise why are you doing it). But can you sell that BTC without settling to the main chain which involves an on chain transaction anyway?
Comment by [deleted] at 13/01/2018 at 01:28 UTC
2 upvotes, 0 direct replies
Sure you can sell.
When you sell BTC on our platform, we do nothing on the blockchain. That’s how exchanges work.
The only time exchanges touch the blockchain are when users deposit to us or we withdraw to the users.
We can let them sell the BTC because as soon as the lightning payment is done, there is no need to close the channel.
The only time we would need to close the channel is if someone we had a channel with tried to cheat us, or if we had some weird situation where we couldn’t just splice in or out funds.
Those situations will be more frequent in the beginning when the network is underdeveloped.
But those situations have nothing to do with “ability to trust received payments”
Once the lightning payment is done, we will add it to your BTC balance immediately.