20 sats \ 2 replies \ @erict875 1 May \ on: Best critique of the Lightning Network bitcoin
Great video. I really enjoyed watching...
My knowledge of the Lightning is a bit rusty, and admittedly insufficient, but when opening and funding a channel with another node, does the other node automatically become custodian of the fund, as he claims?
Could this be the reason why phoenix decided to leave the US market?
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0 sats \ 1 reply \ @SpaceHodler 1 May
I thought it went to a 2-of-2 multisig? With some hashed timelock magic I'm not well versed in.
The traditional concept of ownership probably doesn't map onto the new reality created by Bitcoin. The state trash may need an upgrade.
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10 sats \ 0 replies \ @erict875 1 May
That's my understanding as well. I don't know the exact legal definition of custodianship, and don't understand how it would apply here, but possibly this is a grey area that needs clarification.
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