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what is moving on the LN is something different from what is moving on the Bitcoin network, they are 2 separate networks, it is exactly like another token, if someone found a way to create BTCLN out of thin air on the LN what will happen ?

it's more obvious here:

https://exch.cx/

Hanshan 1y ago

It's not accurate to think of Ln as a separate token moving on top of BTC

It's better to think of it as a network that claims ownership of sats inside BTC multi-sig contracts

There's no way to claim ownership of a sat that doesn't exist.

ie you cant create supply from nothing

The best anyone can do claim the sats in the channel (multisig contract) from their counterparty and hope they can get away with it.

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Discussion

mbl 1y ago

Assuming people will only use L2 because it's cheaper, they will never settle the transaction on Bitcoin network, do you think it's impossible to cheat ?

Hanshan 1y ago

its only possible to try and steal your channel counterparty's sats.

and you're penalized if you try and they prove you are trying to cheat.

it's not something we hear a lot about... so I'm feeling like it's not a big problem?