Haha yeah that's how it works. The crypto believers call anything they don't like 'FUD'. Well we'll see who's right soon enough. This thing is going to crash HARD
Whats your definition of "HARD"? Well all anybody can do is speculate. But I follow 2 people in the Netherlands who are right quite often and they're drawing similar charts: https://pbs.twimg.com/media/DWp88etWsAA6MMC.jpghttps://pbs.twimg.com/media/DWtE8iOUQAEps9y.jpg:largePretty much like topic starter here. So if they're correct, we might be heading to $3000-$4000 Needless to say, I'm positioned fully short at the moment. |
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Everything going exactly like planned. Just broke the 9600, next stop will be 8900 and from there back to new lows
Shhh... What you are saying, it's only "FUD", what you are doing, you want to destroy cryptocurrencies, let's pretend there isn't downtrend, just say everything is ok, and in colourful rainbow. You are public enemy numero uno for crypto culters. Stupidity and ignorance has taken over. But yeah, everything is FUD. Strong points and numerous warnings are FUD, TA is FUD, market is FUDDed, tanking price (because of market cycle) is FUD, everything is FUD. Crypto cult =/= People, who actually care about a state of cryptocurrencies environment/markets. Haha yeah that's how it works. The crypto believers call anything they don't like 'FUD'. Well we'll see who's right soon enough. This thing is going to crash HARD |
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Everything going exactly like planned. Just broke the 9600, next stop will be 8900 and from there back to new lows
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Producing their fiat money costs more energy than BTC, so what are they are talking about??
This is really such a nonsense. Once traditional paper fiat is printed, which costs does it have ? None! BTC keeps costing energy every single day, it's already costing more energy than a small country uses and who is using BTC anyway to really pay for things? 0.000000000000001% of the people ? And it's at at frikking 51 Twh/year already !!! Let me spell that out for you, that's 51.000.000.000 kilowatt hour/year !! And let me ask you this, do you know of a single person who actually pays stuff with bitcoin? I for sure dont. I know people who trade it, but actually pay with it? I honestly don't know anybody who does that. In fact, I don't even know of a single physical shop that accepts bitcoin in my country anyway. If you calculate that energy cost per payment then you'd end up with an extremely bizarre number. So this whole thread is just ridiculous. |
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I wish I could say the same about people here, but unfortunately, I can not.... BrewMaster's post clearly hints at an exchange, but even without anyone telling you something, a few minutes (maybe even less than a minute) of research would show you the same. I wonder what will happen when Coinbase starts relocating their entire cold wallets, it must probably be the biggest ever whale that buys himself billions worth of Bitcoin according to the rubbish news sites.  Seriously, and people still keep posting rubbish in this thread while being explained that it is an exchange and not a whale.... Sigh.... LOL agreed, so many idiots here. There are even 2 threads in this same sub-forum, in that other thread it's explained several time that it's just the Huobi exchange cold wallet but people just KEEP posting it must be some big whale, even in that same thread! I used to visit elitetrader.com regulary in the past and there were actually quite a few knowledgeable, intelligent people posting there (don't know how it's nowadays, been a while since I posted/lurked there). But here, man it's like a forum for 12 year olds. It just shows me that most of the bitcoin 'investors' are lazy idiots, just driven by greed, who have moved onto the crypto markets and are thus doomed for failure. |
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I agree. This is likely to be an individual who can afford to invest that much money in something as unsure as btc. I don't think this is a blind decision though because for you to put that much money on the table, you have to be prepared and aware of the risks. So that's a calculated investment hoping for a bigger return
You sir are really THE idiot of the thread. Did you even READ any of the posts here? It's been proven 1000x times that it's just Huobi exchange cold wallet. |
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So what you're really saying is that LN will be capable of handling average VISA transactions  It might. Nobody knows but I assume any payment above $100 might become problematic with LN. Only time will tell though. |
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Imagine a wallet app that has a a "prepaid" card function in it. So, you simply "top it up" with a certain BTC value (ie. putting funds into a channel, which happens behind the scenes, hidden from the user)... User then walks into cafe, selects that particular "card"/address/whatever from the app... boom... LN transaction.
You do realize that this 'prepaid card' of yours would cost the on-chain fee? And what happens when there's not a route available to your target? some of the "issues" that have been raised, aren't really issues.
So far you haven't really brought up any good arguments against them. |
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That really isn't a valid argument... I'm fairly sure that at least 90% of people who use the internet every single day have ZERO knowledge of TCP/IP, HTTP(S), SSL and other technologies underpinning the internet... and yet they're able to post selfies and pictures of their cats/grandchildren without too much issue.  That's because they don't need it. But how do you make sure you won't be charged an on-chain fee while you're paying for your coffee? You really need to be knowing how it works and be able to select what you want. You mention "huge fees"... exactly where are these "huge fees"... last time I looked, there are transactions getting confirmed with 2 sats/byte fees... OMG... outrageous! /s  Sure, fees have been ridiculous in the past... but that was because the mempool was flooded and the whole supply/demand thing kicks off. Now imagine that the vast majority of those transactions are no longer in the mempool and are shifted "off chain" onto the LN... what is likely to happen supply/demand-wise then? Less on-chain transactions = less "demand"/same "supply" = lower fees... That's kind of the whole point of LN. Bitcoin transactions have been declining big time. We're now at 187k daily transactions while there where 500k transactions not too long ago and the bitcoin fee was $65. Mind you, even 500k transaction per day is pretty much nothing world wide, VISA processes 150 million per day for example. Now imagine that bitcoin ever becomes popular. You probably can't use LN for payments over $100 dollar or it will become difficult already to find a route, so you're doomed to on-chain payment (or open a channel and also pay the on-chain fee). Now imagine what the on-chain fees will be if even 5 million on chain payments per day take place ? Probably hundreds of dollars! *EDIT* LOL what am I even talking about, 5 million on-chain payments per day is impossible, bitcoin only supports maximum 600k payments/day !! |
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Adoption depends almost entirely on the lightning network
It's quite ironic how an off-chain solution is the only hope for solving the blockchain problems. Either way, I just don't see how LN is going to be a success: https://bitcointalk.org/index.php?topic=2792933.0 |
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For the thread as a whole, particularly to the OP, I honestly don't understand why everyone on the internet has to be so polarised about everything. This thread is just further evidence that people can't even discuss topics without becoming some sort of extremist, which is unfortunate for the community as a whole. It's hardly ever that black and white, so stop talking in terms of "moon" and "fail", when the reality is clearly going to occupy some happy middle ground.
There is no middle ground man. Yeah sure for some tech nerds maybe who don't care about adoption. But bitcoin either becomes a success or it will fail, simple as that. And with all the current scalability problems I just don't see how adoption will increase |
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Why wouldn´t you use the main blockchain for mid-to-large payments?
Because it can only process 7 transactions per second, world wide !! Pretty much NOBODY was even using it and fees already rocketed to $65/transaction. Now imagine that bitcoin ever becomes a success and most transactions > $150 still need to be processed via the main net. What do you think will happen? Everybody here seems to agree, LN is ONLY suitable for small payments. But a system will never work if it can ONLY be used for small payments. |
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This thread is hilarious. Nobody reads the 2nd post in this thread which already proofed that it's just an exchange. It's all Huobi orders moving in each transaction tons of wallets into 1 single wallet (their cold wallet).
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LN isn't really made for big payments anyway.
For micropayments it will probably work better. But for anything above, say, $200 it already might become unusable. And who is going to use bitcoin to pay $200 when they need to pay $70 on-chain fee? |
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Nigeria.
What does 1 corrupt country have to do with the rest of the world? Nigeria is scammer's heaven. I'm sure their government isn't any different. |
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That guy is such a an idiot. "Market arbitrage", REALLY? LOL. And he obviously doesn't understand that energy in some countries is cheap because of politics/taxes instead of lack of demand. |
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So you'll end up taking a different route, most likely without you even noticing. You aren't forced to route through people with insufficient funds.
My point is that there simply might not be a route with enough funding. But if someone does attempt to defraud you and you catch them, you can take their funds. That's a rather strong disincentive to try ripping people off. It is. But you're never 100% sure, which means that you actively NEED to monitor all of your channels for fraud. That's really a big downside. Which is why Lightning is completely optional and you can still send regular payments to be confirmed directly on the blockchain, just like you always have done. This is no argument at all. I don't see how any of these will result in LN "failing". These are some serious problems with LN which will most certainly ensure this will never become a big success. |
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