--- Log opened Wed Oct 07 00:00:39 2020
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03:43 < maybefbi> in the lightning network, what prevents everyone from opening a channel with the same huge channel operator who is connected with everyone?
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04:03 < michaelfolkson> Technically nothing maybefbi. People can if they want. In reality though why would we always have two hops to get anywhere? If A pays want to B it won't always make sense to go A -> central operator -> B rather than A just opening a channel directly with B
04:04 < michaelfolkson> *If A wants to pay B
04:07 < michaelfolkson> It is inefficient, creates the central operator as a bottleneck for liquidity, worse for privacy, the central operator might charge higher fees or seek to sell data, becomes easily censored etc etc
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07:20 < maybefbi> michaelfolkson: thanks. makes sense. michaelfolkson: until i close a channel and claim my coins on the blockchain, i cannot spend in another channel can i?
07:23 < michaelfolkson> If you have opened a channel with say 1 Bitcoin of outgoing capacity you can make routed payments to various destinations across the network with that 1 Bitcoin (assuming your channel counterparty has channels with other people)
07:24 < michaelfolkson> What do you want to do? Open a second channel with some of the capacity of that original channel (ie shrinking the capacity of that first channel)?
07:24 < michaelfolkson> So you now have two channels with 0.5 Bitcoin of outgoing capacity in each?
07:27 < michaelfolkson> You could do this but you'd need to use splicing (which requires onchain transaction). 
07:28 < michaelfolkson> You wouldn't need to close the first channel but you'd need to do onchain transaction
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--- Log closed Thu Oct 08 00:00:40 2020