Ohh yes I have perfect analogy for that.
Imagine you go to a bar with your friends and you tell bar guy that here is 100 dollars for this night, I am giving a party about my promotion, as I am IT engineer.
The bar men says, really, I put 20 dollars if I need any help regarding fixing my laptop.
You take this 120 dollars and put it in a box with 1 key with you and other one with bar man. This box can only open with these 2 keys (2-2 multi sig transaction recorded on #btc chain).
Now go back and forth. Ask for beer, food and he ask you to fix money. Now you have channel of 120 dollars and you can go back and forth any number of time. Each time you write the transaction on a receipt to keep the tally.
Later, when you want to go home, you take all the receipts, do the final tally and it comes out the bar guy gets 110 dollars and you get 10 dollars.
You open the box with the keys, the bar guy gets 110 dollars and you get 10 dollar (this is what is closing the channel now ) .
Everyone is happy and you have transferred btc at the speed of light.
#btc #nostr #plebchain
Optimistic Pessimist ⚡
npub1y3…2fapf
2023-04-08 09:52:31
in reply to nevent1q…2zy6
Author Public Key
npub1y3n3dscrevxlnx69aw3sluzcu5rtah2pjw2hmu6t5c0mry5acuaqc2fapfPublished at
2023-04-08 09:52:31Event JSON
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"created_at": 1680947551,
"kind": 1,
"tags": [
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"content": "Ohh yes I have perfect analogy for that. \n\nImagine you go to a bar with your friends and you tell bar guy that here is 100 dollars for this night, I am giving a party about my promotion, as I am IT engineer. \nThe bar men says, really, I put 20 dollars if I need any help regarding fixing my laptop. \n\nYou take this 120 dollars and put it in a box with 1 key with you and other one with bar man. This box can only open with these 2 keys (2-2 multi sig transaction recorded on #btc chain). \n\nNow go back and forth. Ask for beer, food and he ask you to fix money. Now you have channel of 120 dollars and you can go back and forth any number of time. Each time you write the transaction on a receipt to keep the tally. \n\nLater, when you want to go home, you take all the receipts, do the final tally and it comes out the bar guy gets 110 dollars and you get 10 dollars. \n\nYou open the box with the keys, the bar guy gets 110 dollars and you get 10 dollar (this is what is closing the channel now ) . \n\nEveryone is happy and you have transferred btc at the speed of light. \n\n#btc #nostr #plebchain",
"sig": "b73c756f3c7958da0b984958791d2ee98a750e97ae536099bfab6b3e9711bfc7f1049bb4a2a36ee5c2976962d028423807afff5100989a62d96c958f6da37c6a"
}