Bitcoin Reversed at 10K but it’s back, now what

ToneVays Website: Bitcoin: 3Hk9cR6p8XAAbmD2GkvSdcbznhqXvLDX4o Litecoin: LPUU9aMnzpjvhr5yEfW7hz1JjbgQ1zYDvw Topics:


  1. LN is experimental and extremely over-complicated tech which make it vulnerable to hacks. In addition, everyone requiring a node is beyond ridiculous. In contrary, Bitcoin Cash is run on a secure network and is focused on mainstream adoption by merchants and end-customers. BCH is the future and market will realise this soon.

  2. A Running List of Critical Lightning Network Defects solved by Bitcoin Cash

    After Andreas talk about hot wallets, it got me thinking about the list of terrible flaws in LN that are so incredibly glaring that bitcoin core community has completely ignored:

    It requires target lightning node to be up (if its down you can't connect)
    In a large scale LN implementations the cheapest and fastest routing of LN payments is np-hard (among the most algorithmically inefficient problems in computer science)
    Creates the possibility of a Man in the middle attack when the distance between nodes >= 3 (which is all useful cases essentially)
    Requires hot wallet which is hackable to receive payments as opposed to BTC wallet which can be on a sheet of paper
    You still have to open and close LN channel on the block which is 2 tx (on a very expensive block chain)
    Centralization of nodes/hubs that can be shut down by the government to disrupt the network

  3. you guys are the stupidest of all bitcoin. congrats!!
    It’s not even funny anymore…

    Jimmy Song @ 41:15:

    The nice thing is, nobody needs to know about other nodes, right? Like, you only need to know about nodes that you're connected to, and the ones that you're paying to… (inaudible)

    No Jimmy, you need to know the state of every single node on the network, in order to route the payment. This was even mentioned by AA in his video.

  4. LOL Tone Vays didn't even know that you need to run a lightning node to use Lightning Network!
    PS. You can use Bitcoin Cash network without running a node! This is why Bitcoin Cash is superior to BCore Blockstream coin.

  5. Jimmy + Tone you guys are giving those of us who understand what a Blockchain actually is a voice in this borderline brain-dead community of noobs and scammers.  Thank you for your service!

  6. Mr. Vays, did you also know that your node has to be online when you receive a payment? So if you run a business, you better make sure you node is up 24/7, otherwise you will miss payments – boy that's pretty convenient isn't it?

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