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Anonymous
Lightning Network will take Bitcoin to the next level and kill all competition 2016-03-18 13:50:37 Post No. 1149632
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Lightning Network will take Bitcoin to the next level and kill all competition 2016-03-18 13:50:37 Post No. 1149632
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Lightning Network will take Bitcoin to the next level and kill all competition
Anonymous
2016-03-18 13:50:37
Post No. 1149632
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>Bitcoin is too slow, won't scale
This is a meme by low-IQ casuals. The thing is, BTC is not only already a better safe haven than Gold in ever aspect possible, but it will scale to surpass VISA and all the competition as well.
First of all, im here to get rich, and there's a ton of potential growth in BTC, I don't care if it never becomes a successful "paypal" so to speak, the real value is on a "Gold 2.0" approach. There's trillions of potential growth on there as physical cash dies. Marketcap is only 6bn now.
The thing is, it will deliver the most decentralized, fast and cheap payment alternative too.
The Lightning Network can potentially outdo VISA in any case.
To achieve much higher than 45,000 transactions per second (VISA's peak) using BTC requires conducting transactions off the BTC blockchain itself. It would be even better if the BTC network supported a near-unlimited number of transactions per second with extremely low fees for micropayments. Many micropayments can be sent sequentially between two parties to enable any size of payments.
“If a tree falls in the forest and no one is around to hear it, does it make a sound?”
Whether tree fallin makes a sound questions the concept of relevant information affecting the wider universe, if nobody is around to hear the tree falling, then whether it made a sound or not is of no consequence. Similarly, in the blockchain, if only two participants care about a transaction, it’s not necessary for all other nodes in the BTC network to know about that transaction. It is instead preferable to only have the bare minimum of information on the blockchain. It is desirable for two individuals to net out their relationship at a later date, rather than detailing every transaction on the blockchain. This can be achieved by using time locks as a component to global consensus. As a result, Bitcoin can scale to billions of
transactions per day with the computational power available today on a modern desktop computer.
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>Lightning Network will take Bitcoin to the next level and kill all competition
This is exactly why there is a big FUD campaing by Gavinistas against Blockstream
"muh Blockstream want to centralized and kill Bitcoin"
And since most people are morons without technical knowledge some may buy into it.
They know that once that kicks in all their excuses for their power grab attemps (like XT then Classic) wouldn't work again. The "let's raise the blocksize Bitcoin is collapsing" excuses will be done by then.
They hate that an objectively better developer team is getting things done and making technology to realistically scale Bitcoin while keeping the core of Bitcoin as decentralized as possible. They hate this because they will not be able to control the nodes by bribing the big datacenters that they want to run nodes so they can have it all nicely located, instead of random people under TOR running the nodes (Core approach)
Bitcoin Core + Lightning Network + Sidechains = Get ready, this is actually Bitcoin 2.0 and none of the altcoin scams/hardfork attemps like Bitcoin Crapssic
Good times ahead.
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>>1149643
Yawn.
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>>1149720
Is this how you cope?
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>only good crypto thread on /biz/
>3 replies
>random shitcoin shilling thread
>123 replies
This is why you are poor.
>>
https://www.youtube.com/watch?v=H6bGuKN3m6E
bitcoin bagholders btfo
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"bitcoin can scale with this totally off-chain, not-bitcoin vaporware"
Congratulations, you played yourself
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>>1149632
Lightning Network is vaporware. And has other problems:
>http://codesuppository.blog spot.com/2016/02/the-lightning-network-is-so-great-that.html
It's also competing with altcoins to be the payment network. It might lose.
in summary, go suck down Mircea Popescu's sweaty little chipolata milk somewhere else
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This thread is the desperate bitcoin maximalists attempt to grasp at the final straw that will break the camels back of bitchcoin.
ETH makes bitcoin look like an amateur game.
Dump bitchcoin and buy ETH
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>>1150287
>>1150499
>babbies first attempt at scaling up a protocol to worldwide levels
Redpill: It's impossible to scale on-chain to global levels
But here's the thing: LN will deliver more decentralization, faster, bigger volume and cheaper fees than any other alternative.
>vaporware
The code is out there and constantly getting updated. In a couple of months we'll have it live. Keep coping tho.
Does anyone in here know what the fuck this is all about? Is anyone here seriously waiting for some coin to deliver on-chain worldwide transactions and army-grade encryption at the same time?
Protocols require layers to scale, just like TCP/IP has layers because it would be dumb to run everything at the fundamental levels, Bitcoin protocol will have additional layers.
LN is the unbeaten solution to scale it worldwide. So we'll have objectively superior fast and cheap payments that beat VISA in terms of volume and decentralization, AND the objectively superior gold that Bitcoin already is.
Nocoiners are grasping at straws and quoting Gavinista-FUD articles and altcoiners are hoping for some coin to defy the laws of physics.
You guys are fucking lost. Just pick another hobby.
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>>1150514
Kek. ETH makes ETH look like an amateur game.
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>>1150514
>bitcoin maximalists
Fucking lol. Look at this coping and suffocating ETH bagholder.
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>>1150538
Eth shills make Eth look like a disreputable scam.
But seriously "Lightning Network"? Can't you come up with something a little less goofy?
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>>1150542
Cant you just leave the board and dont comment you nocoins fag
But buy ethereum first or stay poor
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>>1150546
>dont say things that I dont like
loooool
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>>1150548
Buy ethereum you fucking knob.
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>>1150553
Buy a chia pet. If you do that then I will buy 1 ether because at least then we will both be doing arbitrary shit.
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>>1150559
Now is not the time to make silly jokes your financial future hangs by a thread.
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>>1150546
Just stating some facts, no need to get defensive. Does the truth make you feel threatened?
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>>1150561
“Don't ask me silly questions
I won't play silly games
I'm just a simple choo choo train
And I'll always be the same.
I only want to race along
Beneath the bright blue sky
And be a happy choo choo train
Until the day I die.”
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>>1150561
I don't need to buy shitcoins to make money. If any financial future hangs in the balance it would be your retarded decision to put all your eggs in one highly volatile basket with known holes in it.
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>>1149958
It's not a good crypto thread, just one guy's monologue.
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Nocoiners and altcoin bagholders on damage control.
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>>1151652
Bitchcoin bagholders coping hard
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Ethereum hu akbar
http://youtu.be/QS1pBDUcCLc
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>>1151712
isis confirmed to be buying up ethereum to launder money
buy before the pump by allah
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