rich1.0Tom Harding [ARCHIVE] (npub1ms…pmwjy)https://nostr.ae/npub1msef5qkfwz4t7qacwxz775wgdtlytph78g2g2z903x90874u263sypmwjynjumphttps://nostr.ae📅 Original date posted:2015-08-11 📝 Original message:On 8/11/2015 2:23 PM, Adam Back via bitcoin-dev wrote: > I dont think Bitcoin being cheaper is the main characteristic of > Bitcoin. I think the interesting thing is trustlessness - being able > to transact without relying on third parties. > That rules out Lightning Network. Lightning relies on third parties all over the place. Many things must be done right, and on-time by N intermediate third parties (subject to business pressures and regulation) or your payment will not work. Lightning hubs can't steal your money. Yay! But banks stealing your payment money is not a problem with today's payment systems. Some real problems with those systems are: - Limited ACCESS to payment systems - High FEES - Transaction AMOUNT restrictions - FRAUD due to weak technology - CURRENCY conversions Plain old bitcoin solves all of these problems. Bitcoin does have challenges. THROUGHPUT and TIME-TO-RELIABILITY are critical ones. DECENTRALIZATION and PRIVACY must not be degraded. These challenges can be met and exceeded.