Author: John Carvalho 2022-10-15 04:08:15
Published on: 2022-10-15T04:08:15+00:00
In response to Dario's concerns about the management of zero confirmation (0conf) transactions, John Carvalho argues that merchants accepting base layer Bitcoin is crucial for adoption rather than just Lightning Network (LN). While he supports and has built on LN, he believes that its complexity, reliability, maintenance, and overhead are real obstacles for merchants. He also points out that Muun, who started the thread, is one of the links provided. John argues that it is impractical for a merchant to accept Bitcoin but not onchain or have many checkout and customer service versions for different payment methods.Erik Aronesty disagrees and points out that Lightning Network works well and is readily available in convenient mobile apps used by millions of people. He states that the need for 0conf has been mitigated by other solutions for fast payments with no need for a trust relationship. Erik provides several links as references, including Muun, ElementsProject, and Lightning Network. Peter Todd adds that the way merchants try to manage 0conf risk is harmful to Bitcoin as it connects to large numbers of nodes to try to risk-manage propagation, which he considers an attack. Peter also notes that in the past, merchants tried to make deals with miners directly, which was extremely harmful. John Carvalho signs off by providing his contact information, including his schedule, chat, and social media accounts.
Updated on: 2023-06-16T00:46:46.665829+00:00