Nostr Web Client

Not stolen, but certainly one party loses their claim to their side of the channel. The revocation secret sides the channel to the victim. Either you cheat, and your counterparty produces a valid revocation secret. Or the counterparty is offline and they lose their side of the channel, at least partially, absent a watchtower node.

Chris 11mo ago

I think we agree on 99 percent of this. From a classification standpoint. But calling lightening purely a “coupon” BACKED by BTC/layer 1 is going too far, IMO.

Its actual bitcoin in a smart contract that can be self custodied and unilaterally reverted back to main chain UTXO custody baring some wildly aberrant event.

I’ve enjoyed this discussion, since it has provided me the opportunity to reflect and learn. The major reason I LOVE this community and journey down the rabbit hole.

So thank you! 🙏🏻

Back to the top, I still think Jack was not advocating for more liquidity and velocity on main chain.

He was taking issue about a growing group on wall st in US (eg MSTR, Blackrock, others) that are explicitly advocating for BTC to remain JUST a pristine digital asset. Actively trying to block layer2/3 and circular economies from developing.

In that case I agree with him. If this doesn’t become our new global system and therefore seperate money from state for the first time in history, I think we are fucked as a civilisation.

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