2018 Clusterfuck Forecast

Steven Schear schear.steve at gmail.com
Sun Jan 7 19:27:55 PST 2018


Yes, it's a rather open secret that LN channel abuse, esp. using Hub
architecture,  can do FR just link banks.

https://www.reddit.com/r/Bitcoin/comments/56ehi1/fractional_reserve_on_lightning_network/

By never closing channels it difficult to detect what's going on.

On Jan 7, 2018 6:41 PM, "juan" <juan.g71 at gmail.com> wrote:

> 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?
> > >
> > >
> > >
>
>
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