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by zapdrive 1726 days ago
> pay someone a tiny fee to monitor the blockchain

A.k.a trust a third party.

> For most people, using a 3rd party custodial solution for their low balance hot wallet seems to be the norm.

Just like Venmo or PayPal?
2 comments
gwicks56 1726 days ago
If you want to eliminate trust, with Bitcoin and lightning you can. If for you it's too much hassle, you don't have to. Unlike every single other blockchain, in which you have no choice but to trust centralised solutions, because they are centralised. See Solana switching their blockchain off for a while, lol [1]https://coingeek.com/solana-blockchain-implodes-what-happene...
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m348e912 1726 days ago
>>If you want to eliminate trust, with Bitcoin and lightning you can. If for you it's too much hassle, you don't have to. Unlike every single other blockchain, in which you have no choice but to trust centralised solutions, because they are centralised.

*Bitcoin Cash enters the chat*

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zapdrive 1725 days ago
Solana bad, therefore Bitcoin good?
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xur17 1725 days ago
> A.k.a trust a third party.

True, but in a very limited sense. You're trusting a third party to protect you from your counterparty posting an out of date state. And adding further complexity, your counterparty gets punished if they get caught publishing this state, and they have no way of knowing if you are watching or not.

So, from a game theory perspective, it is unlikely for this to even come into play.

Oh, and you can technically have multiple third parties doing this.

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