Re: 2018 Clusterfuck Forecast

On Sun, 7 Jan 2018 18:32:19 -0800 Steven Schear wrote:

The way payment channels can be reasonably used enables fractional reserve abuses.

Are you sure? As far as I know, one of the main selling points of the LN is that it uses...bitcoins. So it's impossible to open a channel/make a payment except by starting with an on chain transaction. In other words, LN transactions are backed 1:1 with real bitcoins.

On Jan 7, 2018 6:24 PM, "juan" wrote:

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On Sun, 7 Jan 2018 17:38:02 -0800 Steven Schear wrote:

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Off-chain, once solid tech that isn't a backdoor for CBs and WS (as LN appears to be), should easily compete with VISA.

how is lightning network a backdoor for central banks?