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A comment on BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash. Parent comment

Re:BitPay Will Process Payments on Multiple Blockchains, Sta... by tmp9876 on Friday December 15, 2017 @06:31PM (#15936203)
We could start using 'Side chains' today you might as well just create a bitcoin bank where everyone has an account hmmm hmm i mean a channel and all transactions can happen on your bank network and not on the blockchain. See i solved the problem. But first i need to convince everyone to use my side network, sooo if the main blockchain is like a stream what i need is for this stream to be blocked so that i can channel everyone to my side stream. Maybe i will call my bank blockstream.
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Re:BitPay Will Process Payments on Multiple Blockchains, Sta... by AgentME on Friday December 15, 2017 @08:26PM (#15936768)
Payment channels and the lightning network aren't centralized; the users remain in control of their coins without counterparty risk. It's not like a "bitcoin bank" where they have to trust someone else to hold their coins for them. This is shitty FUD.
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Re:BitPay Will Process Payments on Multiple Blockchains, Sta... by wyager on Friday December 15, 2017 @07:47PM (#15936606)
This half-assed analogy falls apart under cursory examination; Lightning isn’t anything like a banking system because you have to trust banks and you don’t have to trust Lightning counterparties.
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Re:BitPay Will Process Payments on Multiple Blockchains, Sta... by Frogolocalypse on Friday December 15, 2017 @06:40PM (#15936263)
There is nothing stopping you creating your own super duper side chain if you think you have a better solution. It is open source after all.
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Re:BitPay Will Process Payments on Multiple Blockchains, Sta... by anonymous5133 on Friday December 15, 2017 @09:25PM (#15937060)
Yeah we already did, it is called bitcoin cash lol and it works. The hell with bitcoin's high fees, never again.
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Re:BitPay Will Process Payments on Multiple Blockchains, Sta... by Frogolocalypse on Friday December 15, 2017 @09:35PM (#15937097)
paypal works too. I prefer to not record my payments with the chinese government though.
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Re:BitPay Will Process Payments on Multiple Blockchains, Sta... by wolco on Friday December 15, 2017 @10:14PM (#15937209)
Why? I would be more worried about local governments
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