is lightning real bitcoin?
seems to be a discussion going around
I have no idea
im an idiot
Discussion
Yes it is, if it's your own node. Otherwise it's a permissioned iou that's nothing more than a database entry.
If you run the node with the channels holding your sats, then yes it’s real bitcoin. If you use a custodial wallet like Wallet of Satoshi, then you simply have an account with a balance that’s fully in their custody.
The Lightning Network is a protocol.
It can/has been implemented on different crypto currency protocols.
It’s a protocol that lets you transfer the underlying protocol’s assets faster.
sure it is! 🆒
No.
Lightning is a protocol for moving real Bitcoin more efficiently.
Whether or not the real Bitcoin moving on the network is really yours is a more nuanced conversation.
Ie; WOS vs Phoenix
It's absolutely real. Every single lightning payment or channel open is secured by a cryptographically signed and valid Bitcoin transaction that can be unilaterally broadcast by either party at any time.
That's a pretty gay note bro.
Did you read my entire response or just the first word?
Yeah, I read the whole confused and retarded thing
My brother in Bitcoin, I can weld but I'm really shitty welder. When I have an opinion on something that I don't understand with regard to that subject matter and you correct me, I guarantee you that I won't call your correction gay and I'll have the humility to admit I'm wrong.
Sovereign Lightning i.e. operating your own node, unlike having lnbits run a node for you 👀, is absolutely 100% real secured Bitcoin.
Dude,
The lightning Network is not Bitcoin. It is a network for transferring smaller amounts of Bitcoin more efficiently.
I wouldn't consider a open dime to be Bitcoin either. It's just a vessel.
The various custody models involved as a different question. Ie;
Wallet of Satoshi vs Phoenix
You're using semantics to support a flawed theory that there's some tangible thing called Bitcoin. It's all just ledger entries. The only thing you ever hold is your keys which allow you spend a UTXO, literally just changing a ledger entry for which a protocol exists and for which you need the keys to execute. So by your logic Bitcoin isn't real Bitcoin it's just a protocol and a network of nodes and miners.
I hold the keys so the have ownership of the UTXO, to my cold UTXOs, to my hot UTXOs, to the signed commitment transactions stored on Lightning nodes, to the UTXOs on my Lightning nodes.
It's all real Bitcoin regardless of the "vessel".
I'm on your side.
Yes. 100%. Anyone who says otherwise doesn’t know what they are talking about.
If you want a longer answer, it’s practically exactly the same as if you put bitcoin into a multisig where you held a key, and then pre-signed a transaction to send it to yourself and simply didn’t send it yet because you wanted to keep it in the multisig. Can you put counterfeit bitcoin into a multisig address? Of course not. Can you sign and broadcast a transaction with bitcoin not in your address? Of course not. Is there anything about the multisig that makes the bitcoin less real? Obviously no.
People who know nothing about Lightning say this.
My man
Thanks
🙏
The two most widely held forms of bitcoin: custodial, and lost.
Lightning is usually the former, unless you run your own node, in which case it becomes the latter.
(Dives into foxhole)