Bryon D Bothun on Nostr: Michelle C Leigh can someone help answer this question for us? Are Sats in a ...
Michelle C Leigh (npub1g8w…82gq) can someone help answer this question for us?
Are Sats in a Lightning channel "safer" than Sats on an exchange?
We a know that FTX was selling "fake" Bitcoin, crediting accounts with Bitcoin they did not own.
I don't think it would have been possible to transfer these fake Bitcoin into a lightning channel since they really just represented an entry on a proprietary ledger, they we never actual Bitcoin.
But anything in a Lightning channel must be Bitcoin (I know Litecoin also has a Lightning Network but they are not interoperabile). I might have bought Bitcoin on FTX and never know for sure that there was ever any actual Bitcoin credited to my account. If I buy Sats on lightning, how do I know I have actual Bitcoin?
(I think the answer is because lightning IS Bitcoin, but how do I know that)?
Are Sats in a Lightning channel "safer" than Sats on an exchange?
We a know that FTX was selling "fake" Bitcoin, crediting accounts with Bitcoin they did not own.
I don't think it would have been possible to transfer these fake Bitcoin into a lightning channel since they really just represented an entry on a proprietary ledger, they we never actual Bitcoin.
But anything in a Lightning channel must be Bitcoin (I know Litecoin also has a Lightning Network but they are not interoperabile). I might have bought Bitcoin on FTX and never know for sure that there was ever any actual Bitcoin credited to my account. If I buy Sats on lightning, how do I know I have actual Bitcoin?
(I think the answer is because lightning IS Bitcoin, but how do I know that)?