The only people that think this is correct are ones that learned about crypto 5 years ago and never thought to update their information. The lightning network allows for tiny bitcoin transactions with sub one cent transaction fees. In addition to that, the transactions happen in less than a second.
It’s also centralized and just a bandaid over an issue that could have been solved if Bitcoin had stayed true to its original intention, i.e. digital cash, not a fake store of value.
Heck, Bitcoin itself had the majority of its hashrate coming from a dictatorship where the state needs to have a representative in all major companies… One move and the Chinese government had control over the network.
Nobody is forcing you to use the big nodes. Saying lightning is centralized because of that is like saying bitcoin is centralized because exchanges hold coins.
This is like saying Lemmy is centralized because lemmy.world exists. This senseless rambling may work elsewhere, but Lemmy has too many computer literate users for you to gain any traction here.
but how do I give someone .0045 cents for no apparent reason??
Don’t forget the 40 dollar transaction fee
The only people that think this is correct are ones that learned about crypto 5 years ago and never thought to update their information. The lightning network allows for tiny bitcoin transactions with sub one cent transaction fees. In addition to that, the transactions happen in less than a second.
It’s also centralized and just a bandaid over an issue that could have been solved if Bitcoin had stayed true to its original intention, i.e. digital cash, not a fake store of value.
Nothing about lightning is centralized, unless you think bitcoin itself is centralized.
https://www.reddit.com/r/btc/comments/s3tvox/is_lightning_network_decentralized_why/
Great explanation by someone who isn’t a maximalists. Sorry but yes it is.
Haha. Fees are high and it’s impossible to open a channel because of that? That’s beyond stupid…
No, it’s centered around large nodes, that’s the point they’re making.
Over 50% of the network’s capacity in the hands of 5 entities?
https://www.reddit.com/r/btc/comments/vo86ki/over_half_of_all_lightning_network_capacity_is/
Shit’s decentralized as fuck yo!
Heck, Bitcoin itself had the majority of its hashrate coming from a dictatorship where the state needs to have a representative in all major companies… One move and the Chinese government had control over the network.
#decentralization
Nobody is forcing you to use the big nodes. Saying lightning is centralized because of that is like saying bitcoin is centralized because exchanges hold coins.
This is like saying Lemmy is centralized because lemmy.world exists. This senseless rambling may work elsewhere, but Lemmy has too many computer literate users for you to gain any traction here.
This is absurd. Anyone who has the slightest idea of how it works knows that it is in no way centralized. It isn’t hard to learn how it works.
Monero transaction fees goes brrrrrrrrrrr
It’s less than 10 cents