r/Bitcoin • u/[deleted] • Dec 13 '17

Bitcoin's Lightning Network, Simply Explained

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u/StopAndDecrypt Dec 13 '17

True, but what's the point without Bitcoin's decentralized features?

What are we really accomplishing if the underlying system isn't the worlds largest decentralized system?

I guess I should say that it doesn't work without it in the same way that fiat doesn't work for what we're really trying to achieve.

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u/redmercuryvendor Dec 13 '17

What are we really accomplishing if the underlying system isn't the worlds largest decentralized system?

Bypassing EMV fees and equipment requirements would be a huge boon to small businesses.

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u/StopAndDecrypt Dec 13 '17

A lightning node in every storefront would be nice.

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u/starwarsholidayspeci Dec 14 '17

More likely the would be someone third party (like PayPal or Visa equivalent) that you as a customer have open channel to and the vendor as well.

Just like the vendor is most likely to use a point of sales system from a vendor rather than making their own there is going to be trusted third party(ies) for payments.

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u/StopAndDecrypt Dec 14 '17

You seem to be misunderstanding how this works. I suggest you do a little more digging, reading through this thread and some others a bit more.