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From: Hector Chu <hectorchu@gmail.com>
Date: Tue, 11 Aug 2015 10:01:13 +0100
Message-ID: <CAAO2FKHMcht51bm+w_D47YSZemjh89B6gS2jRp3QQj1Ec=N2cQ@mail.gmail.com>
To: Adam Back <adam@cypherspace.org>
Content-Type: multipart/alternative; boundary=047d7b3a8bee484796051d05593e
Cc: Bitcoin Dev <bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] What Lightning Is
Precedence: list

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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
>

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<div dir=3D"ltr">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.</div><div class=3D"gmail_extra"=
><br><div class=3D"gmail_quote">On 10 August 2015 at 22:43, Adam Back via b=
itcoin-dev <span dir=3D"ltr">&lt;<a href=3D"mailto:bitcoin-dev@lists.linuxf=
oundation.org" target=3D"_blank">bitcoin-dev@lists.linuxfoundation.org</a>&=
gt;</span> wrote:<br><blockquote class=3D"gmail_quote" style=3D"margin:0 0 =
0 .8ex;border-left:1px #ccc solid;padding-left:1ex">In terms of usage I thi=
nk you&#39;d more imagine a wallet that basically<br>
parks Bitcoins onto channels at all times, so long as they are<br>
routable there is no loss, and the scalability achieved thereby is<br>
strongly advantageous, and there is even the potential for users to<br>
earn fees by having their wallets participate in channel rebalancing<br>
(where hubs pay users to rebalance channels - end up with the same net<br>
position but move funds from one user-owned channel to another.)<br>
Exchange deposit, withdrawal, payments, even in-exchange trades can<br>
usefully happen in lightning for faster, cheaper more scalable<br>
transactions.<br>
<br>
Adam<br>
<div class=3D"HOEnZb"><div class=3D"h5">___________________________________=
____________<br>
bitcoin-dev mailing list<br>
<a href=3D"mailto:bitcoin-dev@lists.linuxfoundation.org">bitcoin-dev@lists.=
linuxfoundation.org</a><br>
<a href=3D"https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev" =
rel=3D"noreferrer" target=3D"_blank">https://lists.linuxfoundation.org/mail=
man/listinfo/bitcoin-dev</a><br>
</div></div></blockquote></div><br></div>

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