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.
Yes, because it is even more wrong. One of the most mobile industries in the world that seeks cheap power concentrates where that cheap power is available. China ban bitcoin, miners moved away. Miners can always simply move somewhere else. That already happened and you don’t even know it.
China could have seized all mining equipment just by deciding to nationalize the industry instead of banning it, boom, 51%+ of the hashrate in the hands of the Chinese government. What were Bitcoin maximalists saying at the time? Fuck dick, as long as the price goes up, who cares about the tech behind it?
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.
Alright, I can see now that you are just yelling out things you heard other people say without any idea what they mean. FYI, a bitcoin maximalist is someone who things there is no reason for any other crypto. That is absolutely not what this conversation is about. I don’t think bitcoin is the only useful coin, and I never said anything remotely similar to this. I’m sorry if you lost money gambling or something, but honestly I’m not surprised, clearly you are someone you gets overconfident with small amounts of information. That is possibly what you have to blame for whatever happened to you.
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.
Did you ignore the second part of what I said? 🤔
Yes, because it is even more wrong. One of the most mobile industries in the world that seeks cheap power concentrates where that cheap power is available. China ban bitcoin, miners moved away. Miners can always simply move somewhere else. That already happened and you don’t even know it.
Ok, so you ignored what I said.
China could have seized all mining equipment just by deciding to nationalize the industry instead of banning it, boom, 51%+ of the hashrate in the hands of the Chinese government. What were Bitcoin maximalists saying at the time? Fuck dick, as long as the price goes up, who cares about the tech behind it?
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.
Eh… Lemmy has too many computer literate users for Bitcoin maximalists and crypto to have taken a hold on the place, funny that!
Alright, I can see now that you are just yelling out things you heard other people say without any idea what they mean. FYI, a bitcoin maximalist is someone who things there is no reason for any other crypto. That is absolutely not what this conversation is about. I don’t think bitcoin is the only useful coin, and I never said anything remotely similar to this. I’m sorry if you lost money gambling or something, but honestly I’m not surprised, clearly you are someone you gets overconfident with small amounts of information. That is possibly what you have to blame for whatever happened to you.
♥️
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.