On 9/10/20, jamesd@echeque.com <jamesd@echeque.com> wrote:
There can only be one.
On 2020-09-11 14:54, grarpamp wrote:
There is more than one Fiat.
Not really. The US dollar is supreme, and if it falls, something else will be supreme. China may replace the US dollar, but it has not yet.
The notion that you just keep filling out central datacentres, layers of privacy risk SPV, and central Lightning, etc is ridiculous
The lightning network could in principle solve both scaling problems and privacy problems, but you will have to design your crypto currency around its lightning network, rather than trying to fit the lightning network to existing bitcoin. The lightning people have a forked bitcoin, but I think their fork sucks and their network sucks. But I don't think it has to suck. Maybe they will get it right eventually. Satoshi proved that it is important to get something out there that sort of works, even if it has known flaws. Easy to criticize the existing lightning network - and easy to criticize bitcoin itself, but bitcoin changed the game forever. Scaling is the problem that needs to be fixed. We want a coin that is scalable and private. A lightning network that did not require trust, or even identification, of entities performing correspondence bank like functions, would provide privacy as well as scaling. We would get darknet entities performing bank like functions.