100% agree but they have had 8 years to come up with a solution so the LN solution they
picked in the end looks like a case of problem-reaction-solutions to me and we are being
lead around by the nose if we let them.

if "On-Block" brought people to Bitcoin then LN "Off-Block" should have them leaving

Well said OP and you got the first ever merit that i ever sent out here

Here is the network map of the banker hubs connecting up with each other on the
lightning network https://lnmainnet.gaben.win/ and also
here is the LN white paper https://lightning.network/lightning-network-paper.pdf

Thanks for having the guts to stand up to the censorship that we often see going
on here and if deleted comments counted as merits then I would have more
than all of you !

How long Bitcoin can survive in cryptocurency industry ? )

From a technical perspective it's already a dead man walking and the block-chain won't scale
due to the poor design from the development team and the solution was not to fix it but to
introduce "off-block" banker hubs in the lightning network.

T-Rex has no chance against a modern machine gun but keep buying on the dip
like they have been saying since Bitcoin dipped below $18,000 and ignore fundamental logic at your
own risk 

Based on ETH that runs twice as fast as Bitcoin and the development team can also be trusted and
the price volume ration I would say the price of Bitcoin still has a long way to drop but I guess the
slot machine players here don't want to listen to maths or logic

Yeah "Buy on the dip" all the way to the bottom !

Fees are actually decent right now, you can set from 0.4$ up to 3$ and still have a nice transaction time without paying a shitload of money.
[/quote]

Yes but the damage has already been done and it will be remembered that the development team sat on it's hands and
allowed fees to hit $55 and came up with excuse after excuse for doing nothing and now its excuse after excuse as to why
bitcoin is headed down and they can blame China, Japan and anyone else but it comes down to a system that is slow and
won't scale and fees.

Lightning is going to be the killer blow because its obvious to those that look that it's just a system of banking hubs
that will rip people off even more once they get going

An example of the greedy Bitcoin miners and development team needs to be made as it is already happening
because it has become a rip-off and other crypto-coins should rise to the top as this one falls.

I care not for excuses about transactions fees or introducing banker hubs in the Lightning network and we will
see democracy in action with good replacing the evil that Bitcoin has become.

Having to pay $55 to miners just to store 250 bytes of data last month is a scam as is the lightning network
that consists of banking hubs that the miners are running and it's all hidden from view and is not on the
block-chain

The Bitcoin apple has turned rotten not that this means other software development teams cannot
control there greed and remember most of them are miners too and are running this ponzi scam

"19 year old millionaire advice on Bitcoin"

Yes we have some of them here too playing spot the ball but will he put his hands in his pockets to help people out as
hundreds of other people are thinking about ending it all as the price of Bitcoin continues to tumble ?

Financial advise from kids is not something I need thank you

Other coins, Yes but not Bitcoin that is using "off-chain" banker hubs to deal with issues of scaling that just so
happens to included keeping the miners rich running the Lightning network banking hubs.

Seven "on-block" transactions per second is garbage and the Bitcoin apple has turned rotten as you would
know if you had to stamp up $55 per transaction fees last month and this is whats killing Bitcoin and not
speculation about what China may or not do with Bitcoin because its just an excuse for the obvious faults
we can see.

I run Exodus Eden because I have Ripple but whats piss poor about the wallet is that when you want to just view your
private keys it spunks them out to a file and put that's on the desktop not that they don't know that windows
is taking copies of all out files.

I bet in five years time Exodus might support the Bitcoin Lightning network of banking hubs if it's still around then

I tried thinking up something that would work as an autonomous unit of currency with various servers
having to sign the coin and ownership during the coins life that would work in a trustless environment
but kept bumping into walls.

in other words the coin itself becomes a software object with it's own life history but clearly I was not
up for the job or I would be mega rich by now.

Twice I have been banned now for being off-topic because I don't sing along with the slot-machine players
or the public relations committee here that run things who then sends in thugs to become abusive if the point you
are making is starting to hit home.

Quite simply I do not think that Bitcoin is good from a development stand point, won't scale "on-Block" and is slow, fees are too high
and the lightning network is a system of banking hubs and as a software developer I will not be silenced by the moderators here.

https://www.zerohedge.com/news/2018-02-11/jpmorgan-publishes-bitcoin-bible#comment-11159542

Truth has become treason here and i will remain guilty as charged so ban away boys and I will spam the
internet nearly as much as the "Campaign" groups do here or leave me alone and lets have a fair debate instead
of this nazi censorship.




 

ETH does 15 transactions per second and BTC can manage 7 however $1.50 on ETH is still much too high
in fees but at least the miners are kept in check by the development team and did not hold a knife to
peoples throats and start charging $55 per transaction and this will never be forgotten

Many coins only cost $0.001 per transaction to put things in perspective and a year ago with Bitcoin
we were only talking cents and it was not "We" that changed the rules of game.

Would it had been 80 TPS if they had 8 users and how many nodes were under test ?

They need to be looking at the network doing 50,000 TPS which VISA can just about do
but they won't be fast if only a few users are making payments so maybe we are not
comparing apples with apples and they can chuck it in the bin of they are.

The killer is that the block-chain as implemented in the original version simply won't scale so it's what you call evolution and the other
killers is that anyone can just copy the block-chain and fork it.

EVO has a public ledger but apparently it's been done in such a way that if anyone tried to copy it the nodes start shunting
down so no one can get a snapshot in time so maybe they choke off the number of requests 

This is a major problem for Bitcoin because like i keep saying the development team are working
for the wrong masters and by allowing the miners to ramp fees up to $55 and doing nothing it may
have been a fatal wound to Bitcoin and the price has been going down ever since.

We have 20,000 miner so the ones that don't like the changes can leave and allow the remaining
miners to share around whats left and earn a honest wage.

We don't need mining in the first place never mind CPU-Wars and I would say that PoS is better than PoW but it does come with problem too
and I would use that word "Trust" that gets established but I am sure someone would come along and beat me up for swearing.

I mean one broadcast results in 20,000 nodes trying to agree on whats said and then putting a finger in the air to try and guess quite what the next block
will look like as they all try to stay in sync with each other.

it is not a brilliant system by any means, it's slow, it's costly to run and is 1st generation with none of the new coins taking
much from it at all  and they can present a public ledger without budging it by going "off-block" and having a number of single points
of failure as is the case with Lightning banking hubs.

ETH with the concept of "Smart Contracts" brought more to Crypto-World than hashing data and linking it to the next
block in the chain in what is really just a read only supped up version of something called a linked list

What gets up my nose is they run out of resources and then up the transaction fees as if they didn't know from day one
that bitcoin would not scale so what we have today is nothing like the original vision of just being an experiment to play with
and coins not being worth a dime.

 

Oil is still used for power stations and when you drill for oil you often take the gas too and it's the same
big names anyway and lots of coins mining does not use ASICs but i think Samsung has just moved into
this field so I will add them to my list

Yes that's my understand to and either party can broadcast to the block-chain how the original balances should be distributed and if the channel is opened
with $100 from me and $100 from you then it can be closed but the total balance must still only sum to the original deposits of $200 

Trouble is this is centralization with a single point of failure so if you only have one channel open because they cost a lot in BTC miner fees to
open then if the bank goes offline then your off-line too.

It's very, very complicated this bitcoin thing is with all these inputs and outputs plus mining fees and then
having to credit money back to yourself don't you think.

So much simpler to use private ledgers like Lightning uses don't you think but in this case one of the
restrictions is you cannot move money (Digits) between ledger and only fund them during the time when the channel is
opened, ledger is created

Snooker balls move across the lightning network and bump into each other, it's not like a liquid

What if digits could move between public ledgers and it could be recorded in such a way that you could
establish ownership because the ledger where the digits came from must contain a debit payment and we
forget twenty step down the line where or how the original digits were mined ?

Sure we still have signatures along with public/private keys but it kind of makes things a lot more simpler
and does not mean that the IMF or FED owns it.