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Author Topic: Can Lightning network work decentralized ?  (Read 945 times)
sjefdeklerk
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April 01, 2018, 01:48:55 PM
Last edit: April 01, 2018, 02:02:13 PM by sjefdeklerk
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 #81

Sooo... it seems that we have a verdict. EXACTLY like I predicted, LN = centralization, it's easy to see now: https://lnmainnet.gaben.win/ There are almost no 'client to client' channels, like the LN enthusiasts predicted. It's just client-to-hub. It's so ironic, people wanted Bitcoin for decentralization and now it's going to get centralized around 'banks' again.
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High fees = low BTC price


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April 01, 2018, 04:35:07 PM
 #82

Sooo... it seems that we have a verdict. EXACTLY like I predicted, LN = centralization, it's easy to see now: https://lnmainnet.gaben.win/ There are almost no 'client to client' channels, like the LN enthusiasts predicted. It's just client-to-hub. It's so ironic, people wanted Bitcoin for decentralization and now it's going to get centralized around 'banks' again.

Yes and I am in 100% agreement with these words before the thugs get sent in as usual to protect the other members of the congregation
and maybe it's time to see some good faith coming from the miners who thought they could rip us off for transactions fees and let them
provide lightning free of charge until a real fix by the development team is put in place to make on-block transactions scale.

We did not change the rules and forget about the excuse of China, Korea or Putin, it was fees that crashed Bitcoin price, plot it on a
graph to get a prognosis of what went wrong.

Mining is CPU-wars and Intel, AMD like it nearly as much as big oil likes miners wasting electricity. Is this what mankind has come too.
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April 01, 2018, 06:00:32 PM
 #83

Sooo... it seems that we have a verdict. EXACTLY like I predicted, LN = centralization, it's easy to see now: https://lnmainnet.gaben.win/ There are almost no 'client to client' channels, like the LN enthusiasts predicted. It's just client-to-hub. It's so ironic, people wanted Bitcoin for decentralization and now it's going to get centralized around 'banks' again.

Yes and I am in 100% agreement with these words before the thugs get sent in as usual to protect the other members of the congregation
and maybe it's time to see some good faith coming from the miners who thought they could rip us off for transactions fees and let them
provide lightning free of charge until a real fix by the development team is put in place to make on-block transactions scale.

We did not change the rules and forget about the excuse of China, Korea or Putin, it was fees that crashed Bitcoin price, plot it on a
graph to get a prognosis of what went wrong.

If fees were in any way correlated to price action, you would have expected BTC to have pumped in March. It did not. Furthermore, many of the alts and Bitcoin Cash have even lower fees than BTC; however, they all fared worse, for the most part.
Also, we really need to get away from this need for total decentralization being necessary. It's never going to happen. There is never going to be a homogeneous distribution of resources, wealth, talent and luck. Someone is always going to have some kind of advantage. BTC is still indeed P2P digital cash.
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High fees = low BTC price


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April 01, 2018, 06:25:05 PM
Merited by bones261 (1)
 #84

If fees were in any way correlated to price action, you would have expected BTC to have pumped in March. It did not. Furthermore, many of the alts and Bitcoin Cash have even lower fees than BTC; however, they all fared worse, for the most part.

No not at all because the damage had been done and what will go down in our history books written next to the
section on Tulip Mania is that fees peeked at $55 and following this logic the BTC price should had been £500k
eight years ago.

Took years for main stream to trust digital coins, that trust has been destroyed completely for short term
miner greed and unfortunately BTC has dragged other coins  down instead of upwards like in the past and ETH
had a scaling problem but the miners acted sensible and didn't hike up fees to deal with it.

Any currency used for the exchange of good needs a stable price and the days of 1000% p.a returns will be over as
crypto-coins mature so I will look for a phoenix to rise that might for all I know be bound to the physical price of
gold or oil and not just paper oil/gold that's worth nothing to me.

Mining is CPU-wars and Intel, AMD like it nearly as much as big oil likes miners wasting electricity. Is this what mankind has come too.
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April 02, 2018, 09:45:07 AM
 #85

maybe offtopic but still.

I just want you to know i will run ln node with near zero fees and will connect it to nodes who do the same. It costs me nothing and i will contribute/give back to bitcoin and its community. Least i can do.

Bitcoin forever <3

DooMAD
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April 02, 2018, 01:48:53 PM
Merited by bones261 (1)
 #86

Sooo... it seems that we have a verdict. EXACTLY like I predicted, LN = centralization, it's easy to see now: https://lnmainnet.gaben.win/ There are almost no 'client to client' channels, like the LN enthusiasts predicted. It's just client-to-hub. It's so ironic, people wanted Bitcoin for decentralization and now it's going to get centralized around 'banks' again.

Each business that accepts payments via Lightning will understandably have lots of nodes connected to it.  Each customer they have may elect to open a channel with them if that turns out to be the most convenient and cost-effective option.  It doesn't necessarily imply 'banks'.  

If you count the average number of times each week you buy something from a company versus the number of times you buy or sell something privately with another individual, it's likely that businesses will be the higher number.  So it stands to reason that more channels will be open with businesses than with other individuals.

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