Thursday, 25 October 2018

Second layer on BTC not new, we already seen it fail before..

Remember changetip ? The BTC tipping service ? Failed when the mempool filled and fees spiked. Moving coin off the second layer back on chain became unfeasible due to high cost.

I keep seeing core shills saying the LN is for micro payments, micro payments you are going to be forced to leave on the LN because moving them may cost you more than they are worth.

But it's all irrelevant because it's obvious blockstream don't want you to use BTC, they don't make any money from people using BTC, they want you using LN-BTC or if you part of the cartel, LIQUID-BTC, neither of which are BTC, they no more BTC than tether is a dollar.

Coretard's love to shout about how 1mb blocks ensure decentralisation but fail to see that actually it's forcing them off their beloved decentralised chain and onto a over complicated centralised hub system that still, years after it was announced still doesn't work.

I don't dislike second layer, offchain applications have uses but should they replace the Blockchain ? Fuck no. First layer first. Second layer for secondary usage.

submitted by /u/Calm_down_stupid
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source https://www.reddit.com/r/btc/comments/9r44ag/second_layer_on_btc_not_new_we_already_seen_it/

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