{"type":"rich","version":"1.0","author_name":"Tom Harding [ARCHIVE] (npub1ms…pmwjy)","author_url":"https://nostr.ae/npub1msef5qkfwz4t7qacwxz775wgdtlytph78g2g2z903x90874u263sypmwjy","provider_name":"njump","provider_url":"https://nostr.ae","html":"📅 Original date posted:2015-08-11\n📝 Original message:On 8/11/2015 2:23 PM, Adam Back via bitcoin-dev wrote:\n\u003e I dont think Bitcoin being cheaper is the main characteristic of\n\u003e Bitcoin.  I think the interesting thing is trustlessness - being able\n\u003e to transact without relying on third parties.\n\u003e\n\nThat rules out Lightning Network.\n\nLightning relies on third parties all over the place.  Many things must \nbe done right, and on-time by N intermediate third parties (subject to \nbusiness pressures and regulation) or your payment will not work.\n\nLightning hubs can't steal your money.  Yay!  But banks stealing your \npayment money is not a problem with today's payment systems. Some real \nproblems with those systems are:\n\n  - Limited ACCESS to payment systems\n  - High FEES\n  - Transaction AMOUNT restrictions\n  - FRAUD due to weak technology\n  - CURRENCY conversions\n\nPlain old bitcoin solves all of these problems.\n\nBitcoin does have challenges.  THROUGHPUT and TIME-TO-RELIABILITY are \ncritical ones.  DECENTRALIZATION and PRIVACY must not be degraded.  \nThese challenges can be met and exceeded."}