“Chain fees leave a bad impression vs inflation. Fees are visible, inflation is hidden. People get the impression that fees must be minimized, but the system is designed around them. Fees remind people of middleman rent, but it’s actually a direct support for the system’s security”

"Chain fees leave a bad impression vs inflation. Fees are visible, inflation is hidden. People get the impression that fees must be minimized, but the system is designed around them. Fees remind people of middleman rent, but it's actually a direct support for the system's security" submitted by /u/wallyjo3
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Bitcoin – The Currency of the Internet

“Bitcoin itself cannot scale to have every single financial transaction in the world be broadcast to everyone and included in the block chain. There needs to be a secondary level of payment systems which is lighter weight and more efficient.” -Hal Finney, Dec 2010

R.I.P. my Satoshi Nakamoto.

submitted by /u/slacker-77
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Bitcoin – The Currency of the Internet

Lightning is an open protocol, not a product. Core is an open process, not a company. Corporations and centralization are faster, marketed better, more polished, and can be more efficient. Open systems and decentralized solutions will still win; if we fight for them.

Lightning is an open protocol, not a product. Core is an open process, not a company. Corporations and centralization are faster, marketed better, more polished, and can be more efficient. Open systems and decentralized solutions will still win; if we fight for them. submitted by /u/acevol
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Bitcoin – The Currency of the Internet

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
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Bitcoin – The Currency of the Internet