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Comment by chx | Hacker News Reader

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chx·

> Lightning Network - A way to do micropayments, if it works,

You can stop the tape right there. You know it doesn't and it can't.

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Genuinely curious, what’s wrong with the lightning network?

I don't know why the parent comment talked in such absolute terms, but these recent problems may be relevant:

https://news.bitcoin.com/hidden-lightning-network-bug-allowe...

https://news.bitcoin.com/mishap-sees-user-lose-30000-btc-on-...

Bitcoin.com isn't a neutral source on LN related material. The parent company (St Bitts LLC) directly invest in Bitcoin Cash startups that compete directly with Bitcoin itself.

The bug has already been patched, and had a limited userbase. The user who supposedly lost all his Bitcoin ended up not being true, vast majority was recovered. It's also worth noting that the user also deliberately went against various UI warnings that funds may be lost.

https://github.com/lightningnetwork/lnd/issues/2468

Linking to a Bitcoin.com article about anything BTC is like linking to a Fox News opinion article on Obama.

For starters the whitepaper concludes that a 133mb base block size is needed for it to work at scale. Bitcoin currently has a 1mb block size limit, which it will never increase.

It's not the lightning network -- it's micropayments.

Three days ago: https://news.ycombinator.com/item?id=23232978

one design problem https://medium.com/@homakov/catch-22-of-lightning-network-in...

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