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Title: Will lightning network keep BTC as the dominant coin in the market cap? Post by: lopez cryptomania on February 21, 2018, 01:01:56 AM Now that the lightning network is on the cusp of being full force what are your thoughts and opinions on how it will affect in relation to the price of BTC? Will more people use it? Will it dispell many of the drawbacks regarding speed, fees, and scalability that people were knocking BTC for?
Title: Re: Will lightning network keep BTC as the dominant coin in the market cap? Post by: alia on February 21, 2018, 03:58:45 AM LN would be cool, but we don't even need it anymore. I can send a BTC transaction with a 5 cent fee and an ETH transaction with a 5 cent fee, and the BTC transaction would actually confirm much faster, in most cases (and in current mempool conditions). I think that BTC dominance will always remain a given - for various other reasons.
Title: Re: Will lightning network keep BTC as the dominant coin in the market cap? Post by: nullius on February 21, 2018, 04:21:46 AM LN would be cool, but we don't even need it anymore. I can send a BTC transaction with a 5 cent fee and an ETH transaction with a 5 cent fee, and the BTC transaction would actually confirm much faster, in most cases (and in current mempool conditions). That’s not relevant. I think big: I want for Bitcoin to compete with Visa. For that, we need to increase peak TPS throughput by five orders of magnitude. The blockchain will never do that—not unless Bitcoin Jesus blesses us with gigabyte blocks /s (https://bitcointalk.org/index.php?topic=2945878.msg30447663#msg30447663) (got a supercomputer for your node? /s (https://bitcointalk.org/index.php?topic=2612664.msg29767818#msg29767818)). I expect that Lightning will, after it matures. For an engineering analogy of why Lightning is important, see this article (https://medium.com/@melik_87377/lightning-network-enables-unicast-transactions-in-bitcoin-lightning-is-bitcoins-tcp-ip-stack-8ec1d42c14f5) (forum discussion where I found the link (https://bitcointalk.org/index.php?topic=2852931.msg29271658#msg29271658)). I think that BTC dominance will always remain a given - for various other reasons. Certainly, Bitcoin will remain dominant. But it could not do so without the best developers, the best new ideas—and scaling both vertically (Lightning) and horizontally (sidechains). |