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RE: LIGHTNING NETWORK EASY EXPLAIN | ENGLISH & DEUTSCH
What would happen if the tenant refused to close the channel? Would the landlord not receive the payments? As a landlord it is not hard to imagine such spiteful tenants. 😎
For both to close the payment channel, both must agree. And besides, you forget the law. If he doesn't pay, the law has to decide. The Lightning Network is about the scalability of Bitcoin. If someone doesn't pay he can also do it with Euro, Dollar, Yen & Bitcoin. If he refuses to close the payment channel he won't get his money haha @novacadian
So a tenant can screw a landlord out of spite. ie leaving the rent locked in an unclosed channel on their last month (or maybe more) before moving out. That is standard fare in the landlord trade. Think my tenants will have to pay in BCH. 😎
Lightning Network is just one solution. But no matter if you pay in FIAT or crypto currency if your tenant doesn't want to pay, then either way you have a problem.
Its just that with BCH your transaction is complete in seconds. LN sounds a bit like taking a cheque.
With Lightning you don't always have to transfer and that relieves the blockchain.
Yeah it certainly has the advantage of addressing ongoing scalability. Hopefully it can be backward engineered for BCH, white room style. The idea of a corporate owned patent handling scalability does not seem an open source solution. Nothing.has changed much since last August's fork with my holdings othet than buying 500 steem with BTC, so ny plan is to HODL and wait and see.
Bitcoin Cash is good but not as good as Bitcoin. Bitcoin has been on the market longer. And he's the father of all crypto currencies. Bitcoin Cash only lasts 1 year. Now the block fork. From 8 MB to 32 MB is complete nonsense. Check this website https://www.txhighway.com then you know what I mean. Bitcoin Cash will never get as many transactions as Bitcoin. For many, the crypto market is already a complicated second bitcoin. People get scared and don't invest at all.
My feeling is the BCH is more in line with Satoshi's white paper. The involvement of a corporate owned patent (LN) gives me pause for concern as well. There is no original Bitcoin. BTC and BCH forked from the same code and blockchain. Bitcoin Core radically changed by interfacing with LN and Bitcoin Cash followed the guidelines of the white paper by increasing the blocksize as Bitcoin has been doing since the block was measured in kilobytes in its early dsys. That's my take as an equal holder of BTC and BCH.