Some autistic guy named Andreas Brekken decided to put over 39 bitcoin (about $245,000) into his lightning network node
in a tweet yesterday he said he routed 30 transactions and made about 3 cents
currently his node accounts for about 51% of the network's capacity
What is he trying to accomplish?
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he's trying to lose his money and then scream lightning doesn't work
I get a sense he is trying to sabotage the project too
he's a cash supporter and deleted his tweet earlier showing he routed 30 transactions for less than 3 cents (proving LN is fast and cheap)
one theory I read was he's going to try and get connected to most of the network, and then close all his channels to congest the mainchain
Whatever happens the LN devs didn't advocate putting this amount of money in the network, and any bug/attack he tries to pull off will give us valuable information to making the network stronger in the future
he's indeed tied to good ol' Roger, wouldn't surprise me if this is just another one of their schpiels they thought up.
they can try and sabotage it all they want
>they're right and succeed in breaking it
lightning probably wasn't such a good idea
>they're wrong
the network becomes stronger
you could be right, but we can easily monitor most of the LN topography by monitoring LN visualizers, and right now it's looking fine. Anyways, it's an interesting attack and I'm curious to see how it turns out. Also interesting that LN is apparently enough of a threat that Roger wants to sabotage it.
Yeah as of now he is providing a service with large channels on the LN, which is great
I'm trying to think of different angles, maybe he's just promoting himself and his website
maybe he will write an honest review and attract more developers to LN
It's just too early to tell. The LN still needs a few upgrades for it to function seamlessly so with this amount of money on the line I'm a bit concerned
bch is the future
He just demonstrated that lighting network collapses to a central banking infrastructure when hubs with enough liquidity go online. Fucking LN is absolute cancer
at first I was worried too, already seeing dreaded headlines like "this idiot lost hundreds of thousands of dollars due to Bitcoin bug", I don't think it matters in the long run.
Livejasmin (lol) just started accepting LN payments through a payment processor, I'm expecting Steam to start accepting LN payments this year or next year.
As for his ''attack'' right now, I think the angle you stated is most likely, he will try to become a hub by having the most attractive node and then leave trying to shock the system.
I'm kind of expecting someone (a "good" actor) to one-up him. Maybe Charlie Lee or Ricciardo Spagni will step up to the plate
He actually demonstrated the opposite if you learn to read brainlet
>charlie lee
>good
kek
charlie lee is a stupid scammer
everyone likes him because he's friendly
but LTC is pure garbage
that's why i used the quotes
>LN payments through a payment processor
yeah I was reading coingate is testing 100 merchants on the LN as a trial
coindesk.com
as far the network goes it should function even when everyone acts in their self interest
I wonder how an attack will go down as far as a money sink. If he follows the rules it might just be tx fees if he tries to steal by broadcasting a old channel state he could get penalized and blame the LN devs for his own stupidity
who really knows I guess I'll keep watching the network to see
>using lightning network is an attack on lightning network
Wrong.
Two banks with 100000 BTC in their accounts join the LN shitshow. Fine. It costs 5 cents to move a single BTC through the LN, it costs 5 dollars or more to do the same thing via the original blockchain.
What will happen? People will migrate to the LN thinking 'oh well, it's cheaper right? I should be using this shit'. The sad part is, they are replicating the same thing they have been doing when they used to move their money using a central banking system before Bitcoin existed.
This is so stupid I don't even know where to start: you buy BTC, using funds from your bank, then you buy LN bitcoins to do the same exact thing you were doing before buying Bitcoin, holy fuck if this isn't absolute retarded cancer I don't know what it is.
Lightning Network is a failure, it will always be.
>buy LN bitcoins to do the same exact thing you were doing before buying Bitcoin
>LN bitcoins
you seem to have a profound misunderstanding of precisely the subject you talk so strongly against.
you have no idea how the LN works
LN Bitcoins are the best way to define the crap you are transferring between LN wallets.
I just described an hypothetical scenario that's totally feasible. It only takes a single hub with enough liquidity and LN becomes a bank, that's it.
LN is a protocol that every node has to follow
A node can't take your money, can't refuse your money, can't figure out where it originally came from and it's final destination
this is nothing like a bank
In your own words, what is a LN bitcoin?
this is the guy that paid $50 in BCH to everyone that could show him a screenshot of a valid IOTA transaction, trying to prove that IOTA doesn't work lel
easiest 25 MIOTA I made
This. If you're running a now you can't keep people's money. So it's not like a bank.
LN whitepaper shows the stupidity (or ingenuity) of BTC devs. Their idea of payment routing is "it will work just like internet routing does" but that's based on basically limitless trust between ISPs (major nodes) to stay honest and accountable when volunteering for traffic. When you type in Jow Forums.org in your browser's address bar your ISP basically advertises, "Hey, I have a guy who wants to visit Jow Forums, does anyone know where it's at?" and another ISP claims your traffic, which is why the website loads within seconds.
Trustless routing is not a solved problem and simply adding more users to LN does not do anything, it just scales the potential for abuse and loss of funds up. Once LN users get used to Brekken's node with 49% of network's total liquidity and he pulls the plug it would be like Raiffeisen bank shutting down in an instant – a total collapse of fund transfers.
so LN is basically proof of stake?
Well done BTC shills for shitting all over PoS while implementing it on your mainnet.
BCH GANG
just like hundreds of other shitcoins... uh huh
>Whatever happens the LN devs didn't advocate putting this amount of money in the network
What happened with Bitcoin core being "trustless" lmfao. Get rekt
lol the bch pajeets are really out in full force today
must be a sad existence to shitpost on a mongolian basket weaving forum while Roger pays you rupees
keep on pooing in those loos friends
>b-b-but the devs politely asked the CEO of shitcoin.com not to hack their "finished" product. Why isn't he listening
Wysker is his endgame: wysker.com
>LN Bitcoins
Haaa ... I salute you, Mong of the West!
> confused elderly women dot png
that's not how any of this worksanother one here, but for you it's more like the dunning-kruger effect. You think you know what you're talking about but you're so wrong.
>Lightning Network is a failure, it will always be.
Says increasingly nervous alt coin holder for the xth time.
Go read LN whitepaper and see for yourself.
>Also interesting that LN is apparently enough of a threat that Roger wants to sabotage it.
or it's so flawed from the top down that it needs destroying anyway
>roastie CEO