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How The Banks Bought Bitcoin | Lightning Network

Decentralized Thought · 184.1K views · 2017-12-15 · 9:11

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Overview

A 2017 video arguing that banks and Blockstream steered Bitcoin toward the Lightning Network. It is partisan commentary from the Bitcoin Cash side of the scaling dispute.

On Hacker News

HN mentions are thin and mostly cite it in Lightning Network discussions, as a reference point for that critical viewpoint rather than a recommendation.

Discussed on HN; no positive recommendation is recorded in this export · HN mentions 2018–2022

Topics

CryptographyTech industry & business models
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bitcoinlightning networkblockstreambitcoin cashcryptocurrency

What people said

cowtools · 2022-05 · Reference

As someone who is more familiar with BCH rhetoric, I can tell you that what the parent comment is referring to is not mining companies but rather LN relay node operators and other "services" [VIDEO]

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hggh · 2021-02 · Reference

> If you want faster and cheaper transactions, use lightning network, it's functional and growing in adoption. [VIDEO]

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coyote-w-912 · 2018-05 · Reference

The author describes how coyotes win the "skirmish game" when they casually walk into suburban yards and demonstrate that they are not afraid of the humans when they do things to scare them away such as make loud noises at them. However, they lose the "meta-game" when animal control shows up and puts them down because they won't go away. The author uses this analogy to compare coyotes to financial innovators. His argument is that every time financial innovation gets out of control and the economy at large is impacted, larger powers step in and squash it. He argues tha this is what happened in the 2008 financial crisis with mortage backed securities, and that this is the same thing happening now with Bitcoin and cryptocurrencies. I disagree with the parallel he draws to cryptocurrencies. While I don't necessarily think cryptocurrencies will dominate the world, and Governments may even succeed in reigning them in, they aren't in the same category as other financial innovation. Mortgage backed securites were the coyotes stalking across the laws of suburban moms, hoping animal control wouldn't interfere. Cryptocurrencies are a coordinated attack by a pack of coyotes on animal control headquarters. They were designed specifically to be as government-resistant as possible. Now, animal control has a lot of firepower and they can call in reinforcements. Governments have a lot of resources and powers they can draw on to stop and regulate cryptocurrencies. However, these coyotes are we

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Sources

Video by Decentralized Thought, played through YouTube.

Data and selection notes

HN summaries and labels may contain AI errors. HN dates refer to discussions, not video publication.

HN Library: HackerTube export (2026-10-31) and open-index/hacker-news. Upstream summaries and classifications may contain AI errors.

Views, duration and playback status refresh separately from the published catalog. When an update fails, existing data remains visible.

Selection checks
  • SaaS & AI candidates: Topic keywords do not match
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Rule matches identify candidates. They do not guarantee video quality or financial results.

About the library and its sources