Lightning Network: 1% Daily Compounded Growth

[franky1]

Nothing fractional, and nothing custodial about a Turbo channel.

fractional:
"There is no concept of what LN "allows". Channel rules are established between the two parties that enter them, it is voluntary. That means you can agree to any rules you want."
which is my point. 2 parties can agree to a LN balance even without proof of btc collateral

custodial:
"The risk is Bitrefill's because we are fronting the BTC in that channel "

turbo:
no confirm = no locked collateral when the channels is "fronted"

yea you can try to explain how your non turbo fee's havnt changed, but thats just a meander off topic. thats not admitting the truth, thats explaining a left hand when everyone is interested in the right hand (totally irrelevant)

the safe way a system like turbo works would be that turbo is factory based. where turbo just hands out HTLC's of balance in msats that CANNOT b broadcast to bitcoin. but instead the other party has to hand to the factory for the factory to settle

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[bitrefill]

Nothing fractional, and nothing custodial about a Turbo channel.

fractional:
"There is no concept of what LN "allows". Channel rules are established between the two parties that enter them, it is voluntary. That means you can agree to any rules you want."
which is my point. 2 parties can agree to a LN balance even without proof of btc collateral

custodial:
"The risk is Bitrefill's because we are fronting the BTC in that channel "

turbo:
no confirm = no locked collateral when the channels is "fronted"

yea you can try to explain how your non turbo fee's havnt changed, but thats just a meander off topic. thats not admitting the truth, thats explaining a left hand when everyone is interested in the right hand (totally irrelevant)

the safe way a system like turbo works would be that turbo is factory based. where turbo just hands out HTLC's of balance in msats that CANNOT b broadcast to bitcoin. but instead the other party has to hand to the factory for the factory to settle

Sorry, but it seems you are predetermined to paint LN, and Bitrefill's use of it, negatively and incorrectly. Calling any of what we do with Lightning fractional or custodial is literally false. The coins in the turbo channel are owned by the recipient the moment they are pushed, they have control and can close the channel to claim them or route a payment to spend them. No one can print new Bitcoin in LN, and no one can double-encumber any coins in LN.

[DooMAD]

*disinformation*

Sorry, but it seems you are predetermined to paint LN, and Bitrefill's use of it, negatively and incorrectly.

And that's franky1 in a nutshell, heh.  He still thinks that by lying about off-chain transactions and taking potshots at Core devs, he'll magically get what he wants.  It seems real life is just going to be one big disappointment after another for him, because he's living in cloud-cuckoo-land.  And if you dare to point out how reality actually is, he calls you a "utopian" because you won't acknowledge the many shortcomings that only exist in his very special imagination.  He's a renowned troll, so don't worry about it.

I can understand your points clearly and would imagine all the other sane people here will be able to do the same.  Thank you for dispelling some myths. 

[Samuel4]

I've been hearing Lightening Network for sometime now but don't really know what it is. Can someone just help enlighten a novice like me what Lightening Network is all about? Is it a form of blockchain, crypto currency or what exactly. Just a hint.

[emeper]

I've been hearing Lightening Network for sometime now but don't really know what it is. Can someone just help enlighten a novice like me what Lightening Network is all about? Is it a form of blockchain, crypto currency or what exactly. Just a hint.

It is not a new coin/blockchain. It is software that allows to broadcast a multisig bitcoin transaction (creating a channel) with another peer, and then the bitcoin locked there can move as in a pipe, back and forth with very low or null fees, and by smart contract you can close the channel unilaterally by broadcasting another transaction that will redeem onchain your latest balance in the channel. What is interesting is that you can hop/multihop on peers, so it's a network which utility grows exponentially with the numbers of participants. Like an Internet of money.

[Wind_FURY]

Nothing fractional, and nothing custodial about a Turbo channel.

fractional:
"There is no concept of what LN "allows". Channel rules are established between the two parties that enter them, it is voluntary. That means you can agree to any rules you want."
which is my point. 2 parties can agree to a LN balance even without proof of btc collateral

custodial:
"The risk is Bitrefill's because we are fronting the BTC in that channel "

turbo:
no confirm = no locked collateral when the channels is "fronted"

yea you can try to explain how your non turbo fee's havnt changed, but thats just a meander off topic. thats not admitting the truth, thats explaining a left hand when everyone is interested in the right hand (totally irrelevant)

the safe way a system like turbo works would be that turbo is factory based. where turbo just hands out HTLC's of balance in msats that CANNOT b broadcast to bitcoin. but instead the other party has to hand to the factory for the factory to settle

Sorry, but it seems you are predetermined to paint LN, and Bitrefill's use of it, negatively and incorrectly. Calling any of what we do with Lightning fractional or custodial is literally false. The coins in the turbo channel are owned by the recipient the moment they are pushed, they have control and can close the channel to claim them or route a payment to spend them. No one can print new Bitcoin in LN, and no one can double-encumber any coins in LN.

Post a simple FAQ on how Thor Turbo works, and how it goes around the 6 confirmations requirement to fund the channel in this topic please, https://bitcointalk.org/index.php?topic=4792622.0

Because there are fudsters everywhere, help us educate the newbies.

[franky1]

bit refill go into detail about msats vs sats.. i dare you
by this i also mean the detail of cltv vs htlc.. i dare you

dont blanket over the details. actually explain how LN functions in the process of
locking funds onchain.
how LN as a separate network decides what/when/if a locked funds tx is valid
then explain how the LN part of 'pushing' payment occurs. including what denomination/tokn is used and if that denomination/token is broadcastable.

dont try skimming and hiding and ignoring the difference between htlc and cltv. dont try to make it sound like only cltv are ever handled.
actually explain it fully.
remember to explain how if there is magic that only permits 6confirm locks to be collateral. how your system breaks the magic to allow 0 confirm collateral, or where users can buy in using coinbase balance/altcoins.
or you can admit there is no magic and that users can agree to whatever they like.