Thanks for the response, didn’t know that I could be my own watchtower, hopefully it’s being develop good software for that purpose, since I’ll feel naked having my money out in the open in LN if I can’t be sure of the real status of the channel (being my own watchtower can ease that feeling).
Average Joe is not supposed to be forced to learn about watchtowers. Wallet software will effectively hide it from the user. Watchtowers are also decentralized — you can be your own watchtower, you can delegate that task to a 3rd party, etc. They still preserve permissionless property, so you’re still in full control of your money.
2017 is turning out to be the year of the airdropped Bitcoin fork. First Bitcoin Cash, then Bitcoin Gold, then SegWit2X. Now the ecosystem is primed to become even more confusing, as multiple forks vy for the title of “the real Bitcoin.”
Good post, you went deep into the technologies and the politics involved on this subject and it was an enjoyable read. However, I was hopping you mention something about some of the difficulties the Lightning Network is going to face, in particular what worries me the most is the concept of Watchtowers, third party entities that will monitor the…