Bitcoin passed over the lightning network is Bitcoin, and gold transferred with an IOU is gold.

Passing Bitcoin through the lightning network doesn't make lightning into Bitcoin, and letting someone redeem an IOU for gold doesn't ACTUALLY turn the IOU into gold.

Reply to this note

Please Login to reply.

Discussion

That analogy is so full of holes it’s ridiculous.

There are no holes.

There are differences, like with any analogy, but none that contradict the underlying point.