"On the Lightning network, a large hub can't steal my money." Malicious
hubs could flood the network. The way it is discussed now it's not
resistant to Sybil attack either. It's an interesting idea in a very early
stage. Not at all a drop-in replacement for Bitcoin anytime soon, as some
imply. Blockstream shouldn't make these issues into pitches of their own
tech of their for-profit enterprise.

On Sun, Jun 28, 2015 at 9:22 PM, Andrew Lapp <lapp0@purdue.edu> wrote:

> I don't mind a set of central authorities being part of an option IF the
> central authority doesn't need to be trusted. On the blockchain, the larger
> miner is, the more you have to trust them to not collude with anyone to
> reverse your payments or destroy the trust in the system in some attack. On
> the Lightning network, a large hub can't steal my money.
>
> I think most people share the sentiment that trustlessness is what matters
> and decentralization is just a synonym for trustlessness when talking about
> the blockchain and mining, however decentralization isn't necessarily
> synonymous with trustlessness nor is centralization synonymous with
> trust-requiring when you're talking about something else.
>
> -Andrew Lapp
>
> On 06/28/2015 01:29 PM, Gavin Andresen wrote:
>
>> I can see how payment channels would work between big financial
>> institutions as a settlement layer, but isn't that exactly the
>> centralization concern that is making a lot of people worried about
>> increasing the max block size?
>>
>
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