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Title: the future is bright with some bumps on the road Post by: greensheep on January 16, 2018, 09:48:59 PM the future is bright with some bumps on the road!
Wear protection :) 8) Title: Re: the future is bright with some bumps on the road Post by: sjefdeklerk on January 16, 2018, 10:25:14 PM the future is bright with some bumps on the road! Wear protection :) 8) LOL yeah it's bright, BTC just failed as payment system and LN, which will come in 18 months, is a joke. Apart from these small bumps everything is fine Title: Re: the future is bright with some bumps on the road Post by: JohnTask on January 16, 2018, 11:06:06 PM the future is bright with some bumps on the road! Wear protection :) 8) LOL yeah it's bright, BTC just failed as payment system and LN, which will come in 18 months, is a joke. Apart from these small bumps everything is fine Hmmm, while I do agree with you that BTC is failing us as a payment system, I think that that's just right here, right now. I do believe the future is bright. LN is already here, waiting to be implemented. Internal testing showed very positive results. Would you care to elaborate on your opinion that it's a joke and that it will be here in 18 months? Title: Re: the future is bright with some bumps on the road Post by: sjefdeklerk on January 17, 2018, 12:33:03 AM Would you care to elaborate on your opinion that it's a joke and that it will be here in 18 months? Sure:* The maximum amount you can pay in a certain route is determined by the guy with the LEAST amount of money in his channel * Users can defraud each other in a channel, so they have to continually check if somebody is defrauding them. * Unless you have a direct channel to your target, there is NO guarantee AT ALL that you can pay the person you want to pay. * Users need to be online 24/7 if they want to be part of a payment route. If a user is offline, this particular route is not possible which of course has huge impact on the possible routes. * Insane amounts of data are being sent because the network needs to be aware of EVERYBODY's payment channel's state (otherwise it can't discover a route) * You still have huge fees if you want to wire money into/outside the channel. * It's not feasible at all for bigger payments. Let's say you have to pay $1500 rent/month, are you going to open a payment channel and deposit 3 years rent in it ? Most people have difficulties enough coughing up the next month. But if you have to wire every payment into the channel, then you could just as well pay on-chain because you're paying that exact same on-chain fee. Regarding the timeframe, nobody knows, but in the last update the devs said there was still a lot of work to do, so I'm not expecting it this year. They've been saying '18 months' for god knows how long, so I still take that it's the best prediction. Title: Re: the future is bright with some bumps on the road Post by: JohnTask on January 17, 2018, 01:01:14 AM I understand your scepticism regarding LN, but I must admit I do not fully understand all of your points. Too technical for me! Have you discussed this with the people that are pushing the LN as the next big thing? The thing that will save BTC? I don't understand why so many smart people are being positive about LN if your points are correct, but you don't seem like you don't know what you're talking about either. So yeah, call me confused.
Title: Re: the future is bright with some bumps on the road Post by: greensheep on February 06, 2018, 03:51:13 PM Would you care to elaborate on your opinion that it's a joke and that it will be here in 18 months? Sure:* The maximum amount you can pay in a certain route is determined by the guy with the LEAST amount of money in his channel * Users can defraud each other in a channel, so they have to continually check if somebody is defrauding them. * Unless you have a direct channel to your target, there is NO guarantee AT ALL that you can pay the person you want to pay. * Users need to be online 24/7 if they want to be part of a payment route. If a user is offline, this particular route is not possible which of course has huge impact on the possible routes. * Insane amounts of data are being sent because the network needs to be aware of EVERYBODY's payment channel's state (otherwise it can't discover a route) * You still have huge fees if you want to wire money into/outside the channel. * It's not feasible at all for bigger payments. Let's say you have to pay $1500 rent/month, are you going to open a payment channel and deposit 3 years rent in it ? Most people have difficulties enough coughing up the next month. But if you have to wire every payment into the channel, then you could just as well pay on-chain because you're paying that exact same on-chain fee. Regarding the timeframe, nobody knows, but in the last update the devs said there was still a lot of work to do, so I'm not expecting it this year. They've been saying '18 months' for god knows how long, so I still take that it's the best prediction. I already know you hate btc, but can you state your sources for this? Or is this your personal opninion? Title: Re: the future is bright with some bumps on the road Post by: Nosk on February 06, 2018, 03:56:32 PM Would you care to elaborate on your opinion that it's a joke and that it will be here in 18 months? Sure:* The maximum amount you can pay in a certain route is determined by the guy with the LEAST amount of money in his channel * Users can defraud each other in a channel, so they have to continually check if somebody is defrauding them. * Unless you have a direct channel to your target, there is NO guarantee AT ALL that you can pay the person you want to pay. * Users need to be online 24/7 if they want to be part of a payment route. If a user is offline, this particular route is not possible which of course has huge impact on the possible routes. * Insane amounts of data are being sent because the network needs to be aware of EVERYBODY's payment channel's state (otherwise it can't discover a route) * You still have huge fees if you want to wire money into/outside the channel. * It's not feasible at all for bigger payments. Let's say you have to pay $1500 rent/month, are you going to open a payment channel and deposit 3 years rent in it ? Most people have difficulties enough coughing up the next month. But if you have to wire every payment into the channel, then you could just as well pay on-chain because you're paying that exact same on-chain fee. Regarding the timeframe, nobody knows, but in the last update the devs said there was still a lot of work to do, so I'm not expecting it this year. They've been saying '18 months' for god knows how long, so I still take that it's the best prediction. I already know you hate btc, but can you state your sources for this? Or is this your personal opninion? Don't mind him, he was just in a bear period because he was maybe short or something (if you missed it he was one of the first stating that he bought back @6K2usd). Gotcha sjefdeklerk ;D Title: Re: the future is bright with some bumps on the road Post by: greensheep on February 06, 2018, 04:02:58 PM Would you care to elaborate on your opinion that it's a joke and that it will be here in 18 months? Sure:* The maximum amount you can pay in a certain route is determined by the guy with the LEAST amount of money in his channel * Users can defraud each other in a channel, so they have to continually check if somebody is defrauding them. * Unless you have a direct channel to your target, there is NO guarantee AT ALL that you can pay the person you want to pay. * Users need to be online 24/7 if they want to be part of a payment route. If a user is offline, this particular route is not possible which of course has huge impact on the possible routes. * Insane amounts of data are being sent because the network needs to be aware of EVERYBODY's payment channel's state (otherwise it can't discover a route) * You still have huge fees if you want to wire money into/outside the channel. * It's not feasible at all for bigger payments. Let's say you have to pay $1500 rent/month, are you going to open a payment channel and deposit 3 years rent in it ? Most people have difficulties enough coughing up the next month. But if you have to wire every payment into the channel, then you could just as well pay on-chain because you're paying that exact same on-chain fee. Regarding the timeframe, nobody knows, but in the last update the devs said there was still a lot of work to do, so I'm not expecting it this year. They've been saying '18 months' for god knows how long, so I still take that it's the best prediction. I already know you hate btc, but can you state your sources for this? Or is this your personal opninion? Don't mind him, he was just in a bear period because he was maybe short or something (if you missed it he was one of the first stating that he bought back @6K2usd). Gotcha sjefdeklerk ;D And he didn't use sarcasm? ;-) Title: Re: the future is bright with some bumps on the road Post by: Clement Kaliyar on February 06, 2018, 11:03:19 PM LOL yeah it's bright, BTC just failed as payment system and LN, which will come in 18 months, is a joke. Apart from these small bumps everything is fine It is a new technology and you need to give space for improvement,it is a legit decentralized currency but we need to have some good upgrades to accommodate everyone and the recent changes will be in effect soon and the scaling issues we have will be sorted out soon,so there is nothing to worry,the transaction fees and the time will come down .Title: Re: the future is bright with some bumps on the road Post by: trickyriky on February 07, 2018, 10:03:30 AM the future is bright with some bumps on the road! Wear protection :) 8) Cool phrase. Jus imagine how happy we will be when one day, and it might happen soon, Bitcoin will gain A LOT! Like agaiin 20k! And all alt will go up! Title: Re: the future is bright with some bumps on the road Post by: alyssa85 on February 07, 2018, 03:10:43 PM You know how everyone says Bitcoin is digital gold? Well some analysts have detected a correlation between bitcoin and gold flows:
https://www.cnbc.com/2018/02/07/a-relationship-between-bitcoin-and-gold-exists-rbc-analyst-finds.html Quote The potential correlation between bitcoin and stocks may be extending to another area of the market. RBC Capital Markets' Chris Louney has detected a fledgling relationship between bitcoin prices and gold flows. The revelation came in a recent research note. He admits it was challenging at first to find ties since bitcoin is considered an emerging asset. "It's very hard to really put your hands around a tangible correlation between bitcoin prices and gold prices for most of the history," the firm's commodities analyst said Tuesday on CNBC's "Futures Now." Title: Re: the future is bright with some bumps on the road Post by: PartyPete on February 07, 2018, 03:51:45 PM the future is bright with some bumps on the road! Wear protection :) 8) The bumps, stops and unexpected turn makes the journey fun and exciting. There will dips and crashes but more importantly let us be mindful of it and learn from it. Onward to 25k usd mark we go! |