2018 Clusterfuck Forecast

Zenaan Harkness zen at freedbms.net
Fri Jan 12 02:03:32 PST 2018


On Fri, Jan 12, 2018 at 06:44:08AM -0300, Juan wrote:
> On Fri, 12 Jan 2018 19:39:25 +1100
> Zenaan Harkness <zen at freedbms.net> wrote:
> > end up never closing out their channel, except perhaps
> > yearly, or simply never, since they do all their non-anon stuff out
> > of view of the public BTC ledger, and who knows if their now
> > internal-only satoshi's actually match up against their $10 million
> > BTC "channel"?
> 
> 	
> 	it has to match unless the protocol is completely broken, which
> 	I assume it isn't. I haven't look at the details but I suppose
> 	when you get a LN payment you can trivially check that the
> 	funds come from the on chain transaction used to 'open' the
> 	channel. 

The point is the "matching" only happens when the channel is closed.
So if it's never closed, no need to match.

And if it IS closed, it's only between the two mega corporations, who
could simply segue their walled-garden users from the old channel to
the new - possibly, depends on implementation - but the propensity of
corporations is certainly to disempower the end users and to create
walled gardens, and once they've successfully achieved that, then a
mega corp could mint as many LN Satoshis as they want, and no one
would be the wiser, since only they know what's actually happening in
their walled garden.


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