| Yes this is true because Bitcoin core plays by the speed of the weakest link. It's not true for Bitcoin Cash which plays by the "if your node is not making you money why are you running it" When we upgrade every 6 months or useless nodes just get stuck on the old chain forever and that's it. Last upgrade there was one miner who upgraded one block to late and lost about 1000 USD. That miner will be the first to run the new software in may. We had a hacker who got a smart card to get Bitcoin cash to work like a credit card without needing to be online. Bitcoin cash tx are instant and take on average about 2 seconds to spread to about 1999 out of 2000 mempools. They settle on the chain on average 10 minutes. Credit card tx also take a couple of seconds but much longer to settle. Right now BCH can not yet scale like Visa but we already have the capacity to compete with paypall. Satoshi's design works at scale but only when you don't delete point 6 from the whitepaper which is "Simple Payment Verification" Core tries to make you belief the whitepaper was written without points 6 and 7. 7 is how to make the blockchain smaller by pruning it using merkle trees. Nobody does that yet because storing 200 GB for 10 years is super cheap. But 6 and 7 are ESSENTIAL in the design to scale. Core completely ignores them or says: Well SPV is not 100% secure there for it's insecure and should not be used. Gmax does this with everything, he flips it to extremes. Meanwhile right now on LN there is couple of hundred thousand dollars that is very easy to steal from non technical people. 1) you find people that want to open a channel with you. These people go online to post their ip addresses and open ports on /r/bitcoin. These posts are encouraged on /r/bitcoin. 2) You open a channel with them for like 100 USD in BTC. 3) You push the balance to their side of the channel by using a swap side that accepts both LN and other coins. 4) You sell this 100 USD for another coin. 5) You publish an old state. 6) You do this to nodes you monitor using nmap to see if they go offline on a regular basis for longer then nlocktime. 7) You can't lose money on this, only win with people that should not be running LN but are. There is like 6 million USD locked up in LN and about 10% is for grabs. 8) The victims have nowhere to go because if they post about it on their channels they get called stupid and banned and their post deleted. 9) People are already doing this but the victims are still not speaking out. They just belief it was their own fault and move on. Meanwhile the watchtower software is not there yet and if a node does not go offline for nlocktime you can easily DDOS that node for 144 blocks and you doubled your money. |