On Fri, 18 Aug 2017 13:40:24 -0500 Steven Schear <schear.steve@gmail.com> wrote:
On Fri, Aug 18, 2017 at 12:30 PM, juan <juan.g71@gmail.com> wrote:
On Fri, 18 Aug 2017 09:29:54 -0500 Steven Schear <schear.steve@gmail.com> wrote:
[Disclosure: I am a strong supporter of L1 (Blockchain scaling) occurring before any L2 (e.g., Segwit, Blockstream, Lightening Network, etc.) is attempted. And even then all L2 must be thoroughly examined not only for technical flaws but for possible misuses
misuses such as? And who is going to do the examination?
For example, Lightning Networks, due to the methods of "channel" controls, can enable fractional reserve of the blockchain assets.
As far as I know payment channels only allow you to use the amount of btc you transferred to the channel. OK, maybe it's possible to explicitly create a 'fractional' system but that's not how the lightning network protocol is supposed to operate.
Members of the community with the technical chops do the exams. However, politics and self-interest being what they are I have little doubt the debates will be 'lively' and degenerate into the usual ad hominem as occurred in the lead up to the current fork.
I guess it's a matter of "wait and see". Oh, so BCH price has doubled in a couple of days....but I don't think that means much since a lot of what's going on in cryptocurrency 'markets' is just gambling.
....