| > if you get "consent" from your counterparty you can get it instantly. 3-days is about as fast as ACH You said, like a checking account, one “can also take money out of LN at any time.” I clarified that when people say “take money out at any time,” they mean unilateral liquidity. You can unilaterally demand cash or an instantaneous Fedwire transfer, the latter which costs 3 to 69 cents [1] (though some banks heftily upcharge this service), against your checking account balance. It takes a good deal longer to settle a LN balance (theoretically). TL; DR The Lightning Network has some neat features, but pitching its liquidity as analogous to a checking account’s is disingenuous. > you can't lose money if LN is working correctly This applies to anything. In finance, things never work correctly because someone, somewhere, can be trusted to be an arsehole. > It's literally not possible to fractionally lend on LN The number of Americans who have lost a single U.S. dollar to this threat since the FDIC was formed is basically zero. The number of Americans who have nuked substantial fractions of their net worths speculating on Bitcoin is significantly greater. [1] https://www.federalreserve.gov/paymentsystems/fedfunds_corep... |