pull down to refresh
52 sats \ 12 replies \ @we_can_supply_you 26 Dec \ on: Hardest bitcoin concepts for noobs? bitcoin_beginners
Lightning liquidity and the difference between regular BTC and lightning has been by far the hardest thing to explain to people for me.
the difference between regular BTC and lightning
So you really think is a difference ?
If you think that, you still have much to learn about BTC and LN.
reply
Bullshit.
LN transactions are not directly and immediately recorded on the L1 blockchain.
LN involves a degree of abstraction from the blockchain.
LN transfers are not directly approved by miners and the algorithm.
LN transfers are 'offchain', almost instant and substantially cheaper than onchain transfers.
reply
Lightning, for all practical purposes, is a glorified 'bar-tab'.
You don't pay after every drink at the bar. You pay when the night is over.
Except with lightning that can be after a week, a month, a year...
It is the same basic concept. That wall you don't take out your 'wallet' after each and every drink... only at the end.
reply
that's how most credit and debit card payments work as well, with the settlement layer being separate
reply
You are wrong. On LN you pay instantly. Only the settlement of the channel between the peers is settled when is closed.
FFS guys, please read the fucking documentation of how HTLCs works before saying any bullshit here. If you do not know how LN works please STFU.
reply
The 'bar-tab' concept works well to help people understand the relationship between lightning and on-chain. The on-chain transaction is only paid at the end... like 'paying the tab'.
I don't know why Lightning gets so much hate... I use it every day and honestly it's great.
Unless people have some kind of block-size wars ulterior motives or something which is just weird
reply
i only ever see Bcashers hate on lightning and the idea of scaling in layers in general.
reply
The amount of hate 'lightning gets' (from the ****coiners and bcashers...) doesn't make any sense.
Sure lightning 'isn't perfect' but what is? In my opinion it's very good, I use it every day and it does a tremendous job at making Bitcoin fast and quick to transact, while adding additional layers of privacy.
It is really fast with the high 'TPS' all the crypto people talk about... while still being proof of work transferring real sats. I don't get why more people don't use it/rave about it honestly.
reply
LOL you are such an idiot that knows nothing. Good that you confirmed all I already know about your stupidity.
reply
You will not (because you cannot) credibly refute the points I made above.
Please prove me wrong! Silence.
Instead, as usual, when wrong, you defer to bully-troll mode and crudely attack the critic with baseless, unsubstantiated, diversionary personal attack. Libertarian Tyrant!
reply
i havnt even got far enough to talk about lightning lol
could we maybe say, in terms of a metaphor, that (sorry Darthcoin) lightning is like silver to bitcoin's gold?
i mean, silver was used in smaller transactions and denominations while gold was used for larger transactions. kind of like onchain btc being used for larger amounts and lightning used for zapping and smaller transactions