Well read the white paper from double agent S-M that was apparently dumped on a forum

it said "Virtually free transaction fees" but if you look at the charts these fees peeked at about
$55.00 last week so that's fifty five smackers just to send 250 bytes of data across the wire.

Now let a member from outside the church bring you up to data on this magical wonder they are
calling the "Lightning Network" and point you in the right direction.

https://www.youtube.com/watch?v=UYHFrf5ci_g

Being a coin you know, it's got two faces and none of the new coins that are not forks are
using the block-chain because it does not scale and this problem was known all along.

 

 

Yes us in the UK need to watch them evil ruskies you know and about four months ago they was sailing this big
fuck off aircraft carrier toward Syria and the cheeky buggers past down the side of waters surrounding our island
instead of going the other way around the world you see.

We was having none of it and gave these evil commie bastards an naval escort just in case they tried something
on you see with our tiny little boats and the story was all over the BBC news

Last week we got a surprise visit that was kept out the news from Russia because we was freezing and Mr Putin
kindly sent us another fuck off big ship full of LPG because our gas reserve was low.

Take it from me people we are being feed a 1984 cold war soap opera when it comes to Russia and if you think
I am wrong then did you know that both Bp and Exxon oil are still drilling for oil from inside Russia.

Yes for now you can spend money buying weed and your safe so long as the post-man
.......err ........ sorry ......... "Post Person" does not nick it because I would hate to promote
"Hate Speech" and only dare say what I am told to say.

Well anyway if I paid XYZ even via Lightning (If it ever works) to top you off then no I would
be banged up in no time.

Also note that nothing about a personal computer is personal if your running Microsoft windows
and Google with it's Chrome browser is also getting in on the act.

Listen to this scammer taking pre-planned questions from people in the crowd
https://www.youtube.com/watch?v=vPnO9ExJ50A

Well he says at 3:40 that Hubs will need to carry out transactions based on minimal profit or
else other hubs (Banks) will undercut them and push them out the market.

Yeah sure it will just like we have now with miners charging us $45 just to process 250 bytes of data
and these speakers can throw as much fog into the air as they like trying to hide behind technical terms
that change with the weather but they are getting nothing past me, I see whats going on.

Well three reasons for the price dropping over the past two weeks

1. Fees
2. Higher fees
3. Even more fees

Now I know, i know it's all going to get much better with the Lightning network (LN)
See https://www.youtube.com/watch?v=MpfvhiqFw7A (Pro LN Version)

Bob >>>>>Hub1 <><><><><><><Hub2<<<<<<Alice

Bob wants to send Alice $1.00, does not know her and will never send Alice money again
and it's the only transaction Bob will do this month so lets look at the invoice

Alice                    $1.00
Hub Fee               $4.50  Hub to hub gets fees too, spread it out to banks customers, sorry I mean hubs
Block-Chain T-Fee $45.00 as your balance is settled at the end of the month with the hub/bank

oh and to make things nice and quick the rip-off miners will be running the hubs so like I said
things will be getting much better for the monopoly of miners

if you would like to see a much more simple version of how things are really going to work
then see https://www.youtube.com/watch?v=UYHFrf5ci_g

Must mention the buzz word here "Smart Contracts" because they nicked it from ETH
but it's really is not the same thing but it sounds good right !

Yes and these stories we hear about google being in 90% of all pages on the internet is made up even if you can view source and see it here
and X-Boxes do not turn on every 15 minuets when the power lights off to access the disk drive plus LAN devices (DLNA) and any logs from routers that show traffic
from X-Boxes or Windows uploading content over SSL is all fake and is coming from Russian hackers who have seized control of your wifi-router 

Do not call it CPU wars between miners as they are forced to spend more and more money buying Intel chips and
all the electrical energy wasted to send and replicate data 20,000 times is produced by renewable sources.

L@@k you don't understand the Bitcoin protocol and it is based around a decentralized trust-less
network of miners doing a type of CPU War to keep big oil and hardware manufactures in money.

Well you come here and have already broken the first rule of "trust-less" because you trusted these
things we called miners who don't do much mining now they can rip us off in fees and talk about decentralized
because you got that right because 20,000 of these "things" are needed just to process seven transactions
a second in the BTC network.

Anyway all this decentralized and trustless rubbish is coming to an end with lightning network you see
as your point of contact will become a hub (Bank really) that you talk to via a time defined channel and these
are not only hubs centralized but they have channels between each other and can settle up with you or other
hubs when ever one of the parties likes. Complicated so I will draw a picture


Alice >>>>>Hub1 <><><><><><>Hub2<<<<<<<<<<<Bob
0.5BTC                       20BTC       5BCT                0.00BTC

You must not call hubs banks even if they pass fees on to you as they settle
inter-bank balances as they themselves incur extortion fees from the miners who
write to the block-chain or deal with locking your account so the banks....err...sorry
hubs face no risk themselves.

Nearly forgot to say, Miners will be running the banks and we know already how much we can trust them !
 










 

Come on people the current crazy high transactions fees are making the development team rich who
wrote a system that the knew from day one would not scale and LN Hubs act like bankers and a Channel
is little more than a credit line with standing charges.

Yes sure they will keep banging on about it not being centralized and remaining trustless but look
at this picture https://blockchain.info/pools

2/3 of the core code is concerned with mining that created CPU wars and the joke is that
mining is not even needed as many people here that program will already know. 

That's right ten big mining pools now account for 90% of all transactions and this is how we ended
up with a monopoly and they have been allowed to get away with $45 in transaction fees.

People that fix cars don't want to see safe roads and with so little cream to spread around they
have taken to dropping bricks from motorway bridges on to the traffic below.

 



 

LN uses hubs and a better term to use is "Banks" and others like Ripple call them gateways but they are banks
and this leads to some degree of centralization that is needed but how can we trust these developers when they
point blank refuse to accept the obvious and start performing "Words-Smith"

------------------->> Centralization <<-------------------------
Spit it out boys.

in the land of plenty (the internet) the fool is thirsty (Bob Marley quote)

"Why people sell bitcoins?"

1. Crazy high fees
2. Loss of trust in development team because BTC won't scale and they knew it.
3. Price is going downwards due to fees and the steam engine needs to make way for petrol engine
4. Know when to hold it and when to fold it
5. Understand LN and can see Hubs as being just another name for bankers

I don't know the list is endless  but as fees went up, BTC traded sideways and as news gets out
then we start to see a steady drop in the price and that could well turn into a full on crash if
the dev team does not get off its bum and does something before it's too late.

Transaction fees is just an extortion plan in BTC and the developers could fix it in
a day but they are getting too rich ripping us off.

Yeah sure LN will fix things in like six months time so the last one to leave please
remember to turn the lights off because I am not hanging around that long when
Segwit fees will be $0.01 

We need some say over whats going on with fees because what we have now
is extortion from the miners and we have no say over scam fees.

20,000 full nodes are not needed and it leaves too little cream to go around
the 1,000 miners we do need so this CPU war that was started by double
agent S-M needs to be slowed down.

Won't need no security if they don't fix this quick and I mean like yesterday
and they can stick the LN sticking plaster because they knew from day one
that BTC would only scale to about 7 transactions a second, it's just maths

We have been scammed and the developers have allowed ten big mining pools to take over that now
conduct 90% of all transactions and it has become a monopoly that's ripping us off in fees because they
forgot to a one line of code

public static money MaxFees=1.50 // 20,000 miners when all we need is 1,000 DOES NOT WORK

Maybe miners forgot that without clients that they will be left paying for the CPU war from there own pockets
because we are tired of slow speeds and high fess and I have little faith in LN if the developers forgot to add
this one vital line of code shown above.

 

Who ever markets BTC must be a snake oil sales man given the transactions fee we face
today so fix the code to limit the amount, good bye 19,000 miners because we don't need
so many sharing the little cream that is let to got around.

Trust has been dissolved in BTC over these silly priced fees so it will have to come
with cast iron guarantees for now onward's  or the flock might not return

"Near Virtually free transaction fess" != $45.00 plus   

Well that's no true at all and BTC does not scale and they did not need to wait for the wheels
to start falling off it before rushing to fix it.

it said "Near virtually free transactions" on the box so it should have had a maximum
amount of fees that would be charged and it is not decentralized when ten big miners
account for 90% of all transactions.

We can debate if Hubs in LN are really banks but your above comment is not
worth debating IMHO

You forget that rip-off tx fees has lead to a break down in trust so what happens when the LN hubs are exposed
for what they are as banks if we stop playing with words and they conspire with miners to stitch us up even more.

Things are not happy in Crypto-land and we did not change the rules.

Yes months away from getting LN up and running and they had years to see this coming
so one must assume they wanted things to pan out like this and then we will have to wait
for wallets to work with LN

Too little, too late and the market is speaking but as a quick fix they could try a simple line of code for now

Public static money MaxFee=1.50 // Stop ripping us off miners and leave because not enough cream for 20,000 of you on this cake

Well said and if you look at LN you will see it uses hubs to break the work down between nodes as was needed from day one for any system to scale
and they can break the block-chain down in the same way but they are too stupid to see it.

The BC is a linked list so take the headerID and just point that to a list of nodes who have the full block details if you don't hold it yourself
so think about it as storing a reference in <LIST> to other objects. Distributed system is not what they do best and no one can argue that
I am wrong because we know the wheels are falling of the current BTC block-chain

Few people like me have seen what starts to happen to a database when you push the size too high and the index
becomes too big to hold in memory and that's with spreading the DB over several drives.
 

Your reply does compute and you are angry about the price of your coins going down but you should
get out more from the church and read other development forums to see what they are saying instead
of trying to insult people because you lack the skill to debate and don't write code for a living

Firewall maybe

I take it your running a full node and are using RPC to talk to the client here ?