Why do people think LN won't work?
Why do people think LN won't work?
Brandon Robinson
Cameron Ramirez
because it makes most shitcoins and bcash useless
truth be told, no one gives a fucking about transaciton speed or cost anyway, everyone was just investing in names and ticker symbols this last year so they can all fuck off and die anyway
from a fundamental standpoint there's only like 5-10 coins that even fucking matter at this point as for as actual use case goes
Henry Martin
>the routing problem is NP hard and because it's not solvable is going to lead to routes relying on meganodes
>these meganodes will have the ability to deny service, leading to potential censorship
>these meganodes also will probably end up being regulated under KYC/AML laws
>LN is potentially vulnerable to the equivalent of bank runs
>LN depresses the value of currency and is, overall, a shitty deal for miners, without which BTC cannot exist
just a few of the reasons
Parker Butler
routing problem amplified by the fact that every node will have to know the balances of every account.
Julian Reyes
Here's my $10,000 challenge.
I'll give $10,000 to any user who can transfer $10k through lightning with a minimum of 6 hops to the destination.
Can't do it? LN doesn't work.
Asher Jackson
>>the routing problem is NP hard
Yeah, so it won't be optimal, but you can still find a path using e.g. beacon nodes
> is going to lead to routes relying on meganodes
That's fine if "meganodes" exist, cause they'll be optional to use
>>these meganodes will have the ability to deny service, leading to potential censorship
They can deny off-chain transactions, not censor the bitcoin the network, and people can make their own payment channels anyway
>>these meganodes also will probably end up being regulated under KYC/AML laws
Maybe, but you're free to avoid them
>>LN is potentially vulnerable to the equivalent of bank runs
I thought there's a preagreed lock time
>>LN depresses the value of currency
How? It makes the currency more usable thus more valuable
>a shitty deal for miners, without which BTC cannot exist
What are they gonna do? Recycle their ASICS and get a real job?
Julian Harris
>the routing problem is NP hard
>that means no efficient routing algorithms can exist ever
Kiddo, there's a difference between good enough and perfect. Good enough is easy. Nobody cares about perfect.
Jaxon Phillips
I'm fairly certain nobody who brings up this argument in relation to LN even knows what NP stands for, let alone what it means.
>Traveling salesman problem is NP hard
>Therefore traveling salesmen can only go via airport hubs
>Going by car using a GPS is MATHEMATICALLY IMPOSSIBLE
Jayden Parker
(OP)
It's not about working in the literal sense, it's 'working' in the scaling sense - is LN actually cheaper than equivalent on-chain payments.
The answer is that it is only in the case of extreme centralization.
Connor Scott
What are its costs that it's not cheaper than on-chain fees?