From mboxrd@z Thu Jan 1 00:00:00 1970 Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id 2F0797AD for ; Tue, 11 Aug 2015 09:01:36 +0000 (UTC) X-Greylist: whitelisted by SQLgrey-1.7.6 Received: from mail-la0-f48.google.com (mail-la0-f48.google.com [209.85.215.48]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id 4053B132 for ; Tue, 11 Aug 2015 09:01:35 +0000 (UTC) Received: by lahi9 with SMTP id i9so36850831lah.2 for ; Tue, 11 Aug 2015 02:01:33 -0700 (PDT) DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=gmail.com; s=20120113; h=mime-version:in-reply-to:references:from:date:message-id:subject:to :cc:content-type; bh=Bt0/9CuYoGfDHBhUhpIfkTwuvDQLFjBZE74nwVn1FlY=; b=HcHquNNRS3HkuaGnooiENzDQj6zWjw1X9WpAgpjtzkynOVveE4s6yoN1M9LfToUcvG pTiRsYwk2PPShU2z1ZPA/AZCum9bfxKeOUCM4PDVr2rqYOg/Jv+y6ovzSk6PQFztBozv Z4FUMOdZd16u5ZFwy9szVmWVE4h4I2muwPXhpY9REVFGFLMKA/8SIoYrg4DN2gNNJ27w V4hMPyrpJZWmAPYML0tSISFv4gsklCwA151AevGUyqmJ9tamDdhbHEICfhUuIArJ0wgj FR8I2MNoEetTR8xM4ugzFfc0sMmISK5MsbdpJfBvjZE5/JGCi6wnajQwFqEpwMdvRpL4 WBDg== X-Received: by 10.112.129.104 with SMTP id nv8mr10818615lbb.63.1439283693502; Tue, 11 Aug 2015 02:01:33 -0700 (PDT) MIME-Version: 1.0 Received: by 10.25.22.25 with HTTP; Tue, 11 Aug 2015 02:01:13 -0700 (PDT) In-Reply-To: References: <55C79FF0.8040100@thinlink.com> <55C7CECB.7050905@gmail.com> <20150810210240.GC12450@navy> <20150810211901.GD12450@navy> From: Hector Chu Date: Tue, 11 Aug 2015 10:01:13 +0100 Message-ID: To: Adam Back Content-Type: multipart/alternative; boundary=047d7b3a8bee484796051d05593e X-Spam-Status: No, score=-2.7 required=5.0 tests=BAYES_00,DKIM_SIGNED, DKIM_VALID,DKIM_VALID_AU,FREEMAIL_FROM,HTML_MESSAGE,RCVD_IN_DNSWL_LOW autolearn=ham version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org Cc: Bitcoin Dev Subject: Re: [bitcoin-dev] What Lightning Is X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Development Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Tue, 11 Aug 2015 09:01:36 -0000 --047d7b3a8bee484796051d05593e Content-Type: text/plain; charset=UTF-8 Lightning will never catch on as it basically demands that everyone who uses it to become a speculator. Payment hubs and merchants will be at the mercy of the bitcoin price while their funds stay locked up in payment channels. This idea is a dead-end. On 10 August 2015 at 22:43, Adam Back via bitcoin-dev < bitcoin-dev@lists.linuxfoundation.org> wrote: > In terms of usage I think you'd more imagine a wallet that basically > parks Bitcoins onto channels at all times, so long as they are > routable there is no loss, and the scalability achieved thereby is > strongly advantageous, and there is even the potential for users to > earn fees by having their wallets participate in channel rebalancing > (where hubs pay users to rebalance channels - end up with the same net > position but move funds from one user-owned channel to another.) > Exchange deposit, withdrawal, payments, even in-exchange trades can > usefully happen in lightning for faster, cheaper more scalable > transactions. > > Adam > _______________________________________________ > bitcoin-dev mailing list > bitcoin-dev@lists.linuxfoundation.org > https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev > --047d7b3a8bee484796051d05593e Content-Type: text/html; charset=UTF-8 Content-Transfer-Encoding: quoted-printable
Lightning will never catch on as it basically demands that= everyone who uses it to become a speculator. Payment hubs and merchants wi= ll be at the mercy of the bitcoin price while their funds stay locked up in= payment channels. This idea is a dead-end.

On 10 August 2015 at 22:43, Adam Back via b= itcoin-dev <bitcoin-dev@lists.linuxfoundation.org&= gt; wrote:
In terms of usage I thi= nk you'd more imagine a wallet that basically
parks Bitcoins onto channels at all times, so long as they are
routable there is no loss, and the scalability achieved thereby is
strongly advantageous, and there is even the potential for users to
earn fees by having their wallets participate in channel rebalancing
(where hubs pay users to rebalance channels - end up with the same net
position but move funds from one user-owned channel to another.)
Exchange deposit, withdrawal, payments, even in-exchange trades can
usefully happen in lightning for faster, cheaper more scalable
transactions.

Adam
___________________________________= ____________
bitcoin-dev mailing list
bitcoin-dev@lists.= linuxfoundation.org
https://lists.linuxfoundation.org/mail= man/listinfo/bitcoin-dev

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