News for hackers. Stuff that matters.

A comment on The senatorial governance of Bitcoin: making (de)centralized money. Parent comment

Re:The senatorial governance of Bitcoin: making (de)centrali... by I_am_tiberius on Thursday January 09, 2020 @02:01AM (#21999109)
But there's no way the bitcoin network doesn't accept the settlement. A bank can just throw checks away if they like.
[ Parent | on HN ]
Re:The senatorial governance of Bitcoin: making (de)centrali... by bduerst on Thursday January 09, 2020 @01:29PM (#22003938)
Bitcoin will not accept a settlement if the wallet no longer has funds.

Banks throwing away checks is not a problem. Bouncing checks are a fraud problem, which is why most everyone have moved on from using checks is many situations.

Lightning's solution is to just 'watch' everyone you do transactions with, which is a lazy, non-viable solution analagous to continuously watching an anonymous stranger's bank account when they write you a check.

[ Parent | on HN ]