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14 sats \ 5 replies \ @028559d218 26 Dec \ parent \ on: Hardest bitcoin concepts for noobs? bitcoin_beginners
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.
that's how most credit and debit card payments work as well, with the settlement layer being separate
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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.
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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
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i only ever see Bcashers hate on lightning and the idea of scaling in layers in general.
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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.
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