Replying to Avatar corndalorian

What the fully self-custodial zap zealots fail to discuss in their self-gratifying rants is the amount of bitcoin you will need to keep in a hot wallet, always online, in your Lightning node in order to have adequate liquidity to receive zaps, and the added risks of losing those funds due to equipment failure or bad actor channel partners.
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dr.fred 2y ago

also agree. i lost funds on umbrel. no one could help even though i have the transaction receipt and the tx id.

lightning is not bitcoin. it is centralized and has an owner. unlike bitcoin it can be shut down. it is not safe to use. only with micro amounts, it is not even private.

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corndalorian 2y ago

That is not true at all about lightning. It is not centralized and it is 100% bitcoin. Sats in lightning channels just have more risks associated with them than sats in on chain cold storage.

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dr.fred 2y ago

you need to wake up to the reality. it is an additional layer on top of bitcoin, has almost nothing to do with bitcoin, works different than bitcoin. you can build any other layer on top of bitcoin, it would still not be bitcoin.

https://en.wikipedia.org/wiki/Lightning_Network

https://www.forbes.com/sites/michaeldelcastillo/2020/02/05/jack-dorsey-backed-lightning-labs-raises-10-million-to-build-visa-network-for-bitcoin/

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SMS 2y ago

Viktor Kaos be like, that’s right.