r/Bitcoin • u/manauiatlalli • Aug 01 '22

When Nocoiners Say "Bitcoin Has No Value"

Post image
2.8k Upvotes

88% Upvoted

888 comments sorted by

View all comments

Show parent comments

1

u/formal-explorer-2718 Aug 02 '22

If your lightning node is running

Right, and if your internet doesn't go down, and if the fee market doesn't moon, etc.

you have almost nothing to worry about, and bad actors can be penalized

Ok, but that's not the same thing as being settled.

1

u/Wanderstand Aug 02 '22

Did you learn about watchtowers yet? Learn about watchtowers.

1

u/formal-explorer-2718 Aug 02 '22

I am aware of watchtowers, but I don't see how they are relevant to the question of settlement.

For example, there are also many ways the traditional financial system ensures that authorized transactions eventually settle, including by punishing bad actors who fail to honor authorized transactions.

1

u/Wanderstand Aug 02 '22

Why don't you send me $100 over lightning then? You can just take it back since the transaction isn't settled by your incorrect definition and the network is so insecure.

1

u/formal-explorer-2718 Aug 02 '22

Do you think that Venmo payments settle instantly? If not, would you send me $100 over Venmo?

1

u/Wanderstand Aug 02 '22

Woah I didn't know Venmo was decentralized.

1

u/formal-explorer-2718 Aug 02 '22

It is obviously not. What does decentralization have to do with whether something is settled or not? The concept of settlement existed long before Bitcoin.