2018 Clusterfuck Forecast

[juan]

On Sun, 7 Jan 2018 18:32:19 -0800
Steven Schear <schear.steve at gmail.com> 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" <juan.g71 at gmail.com> wrote:
> 
> > On Sun, 7 Jan 2018 17:38:02 -0800
> > Steven Schear <schear.steve at gmail.com> wrote:
> >
> > > 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?
> >
> >
> >