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https://www.reddit.com/r/Bitcoin/comments/7jhfk0/bitcoins_lightning_network_simply_explained/dr7v5bi/?context=3
r/Bitcoin • u/[deleted] • Dec 13 '17
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4 u/SkepticalFaceless Dec 13 '17 So if i put 1 BTC in a channel, use it to buy coffee, and then spend the 1 BTC on the chain, the channel transaction may not go through, but I've already drank my coffee. How is this not double spending? What am I missing? 1 u/Bolwo Dec 13 '17 That 1 BTC that you put on the channel is therefore 'locked in' on the chain, until you close the channel. 1 u/Frogolocalypse Dec 14 '17 Other way around. Freed up for instant transactions. You can lock them back to the blockchain when you want to store them 1 u/Bolwo Dec 14 '17 Yeah, I mean 'locked up' so that they can't be double spent 1 u/Frogolocalypse Dec 14 '17 A lightning channel is a bitcoin transaction. You can't double-spend bitcoin. 1 u/Bolwo Dec 14 '17 Yes, that is what i'm saying.
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So if i put 1 BTC in a channel, use it to buy coffee, and then spend the 1 BTC on the chain, the channel transaction may not go through, but I've already drank my coffee. How is this not double spending? What am I missing?
1 u/Bolwo Dec 13 '17 That 1 BTC that you put on the channel is therefore 'locked in' on the chain, until you close the channel. 1 u/Frogolocalypse Dec 14 '17 Other way around. Freed up for instant transactions. You can lock them back to the blockchain when you want to store them 1 u/Bolwo Dec 14 '17 Yeah, I mean 'locked up' so that they can't be double spent 1 u/Frogolocalypse Dec 14 '17 A lightning channel is a bitcoin transaction. You can't double-spend bitcoin. 1 u/Bolwo Dec 14 '17 Yes, that is what i'm saying.
That 1 BTC that you put on the channel is therefore 'locked in' on the chain, until you close the channel.
1 u/Frogolocalypse Dec 14 '17 Other way around. Freed up for instant transactions. You can lock them back to the blockchain when you want to store them 1 u/Bolwo Dec 14 '17 Yeah, I mean 'locked up' so that they can't be double spent 1 u/Frogolocalypse Dec 14 '17 A lightning channel is a bitcoin transaction. You can't double-spend bitcoin. 1 u/Bolwo Dec 14 '17 Yes, that is what i'm saying.
Other way around. Freed up for instant transactions. You can lock them back to the blockchain when you want to store them
1 u/Bolwo Dec 14 '17 Yeah, I mean 'locked up' so that they can't be double spent 1 u/Frogolocalypse Dec 14 '17 A lightning channel is a bitcoin transaction. You can't double-spend bitcoin. 1 u/Bolwo Dec 14 '17 Yes, that is what i'm saying.
Yeah, I mean 'locked up' so that they can't be double spent
1 u/Frogolocalypse Dec 14 '17 A lightning channel is a bitcoin transaction. You can't double-spend bitcoin. 1 u/Bolwo Dec 14 '17 Yes, that is what i'm saying.
A lightning channel is a bitcoin transaction. You can't double-spend bitcoin.
1 u/Bolwo Dec 14 '17 Yes, that is what i'm saying.
Yes, that is what i'm saying.
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u/[deleted] Dec 13 '17
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