When comparing the Lightning Network to the legacy payment systems, all detractors either miss or intentionally leave out the most important distinction that gives LN its major advantage —> **Zero counterparty risk**

Unlike the bank (or anything we’ve previously known), with the Lightning Network the other party can’t decide not to give you the money they owe you. A blockchain confirmation will always set the record straight. Unlike the bank, the Lightning Network involves zero trust in the other party to give you your funds.

https://www.investopedia.com/terms/c/counterpartyrisk.asp

submitted by /u/Lejitz
[link] [comments]
Bitcoin – The Currency of the Internet

Comparing bitcoin to other crypto-currencies is wrong since bitcoin is transitioning from a highly speculative asset into something closer resembling a store of value (reddit.com)

On the other hand, the alt-coins are largely a highly speculative market. Profits will go into Bitcoin for hodling until the next speculative oppertunity arise.

Bitcoin

Satoshi whitepaper's "longest chain is Bitcoin" rule does not apply when comparing two chains with different consensus rules. (reddit.com)

I have heard countless arguments that if BU ever gained 75% hashrate and forks, then it must be called Bitcoin because it is the longest chain according to Satoshi’s whitepaper. This statement is absolutely false. The whitepaper only used the longest chain rule to help determine which chain is Bitcoin in the event the Bitcoin network is being attacked. Because there will be more honest nodes mining, the longest chain wins. The longest chain is only used to determine winner…

Bitcoin