The name you were looking for was "Lightning Network" but I am sorry to say but I have investigated it, read the white paper
and the hubs are banker, Bob turned into Alan Greenspan, Alice ran off with the milkman but please don't let me stop you from reading it.
https://lightning.network/lightning-network-paper.pdf

Hang in if you can afford to loose or get out whilst you still can

It won't scale, fees are a rip off and that other pledge of being safe from government intervention
is another shoe to fall and the price has never been stable to use as a currency.

I am sure your a nice guy, smile, turn away slowly and head towards the door and remember to tip the
miners $15 or they won't open the door.

Wow and why not go for a full page advert and if mining was so profitable then miners would not be renting out the
equipment but using it themselves so I hope you brought the equipment and go bust because it's the Bitcoin miners
and the development team with their greed that blew it up for everyone

I bid you $12.55 for a 1080 GPU

if smart people pay $25 just to store 250 bytes of data on a block chain then I must be a billionaire
because I have a whole 1GB movie on my disk drive

Come on guys its turned into a scam and was these "Smart" people to pay a software developer like
me to research the lightning network then they would understand that it's designed to host a network
of banks that they are calling hubs and they would understand that the cat has been let out the bag

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

Protest vote and people are sending $0.01 maybe and I don't blame them myself

Why don't these sites just give us the cost in $UDS because that's what we pump into the machine

You broke my browser you know

Mempool at about 135,000 today and in the past it was at the same number so if fees are set by "Market Forces"
then how come they are about $15 today and in the past when the pool had about the same number were we charge
$40 ?

Monopoly by miners maybe https://blockchain.info/pools or was the code changed in the full nodes to simply use lower fees
Hey you don't think the BTC prices going down has anything to do with what miners can rip us off for do you  

The FUD is often based on facts like slow speeds, high fees and you forget that Segwit came out five months ago and fees just kept going up
so trust in the development team has been lost because they sat on their hands and did nothing. Lightning Network now has the spot light
on it and many developers don't like what they see and Mr Poon is not answering emails

Have you taken the time yourself to read the lightning white paper to understand just whats going on ?
https://lightning.network/lightning-network-paper.pdf
Quite simply if you care to look the correct name for "Hubs" is banks and Channels are "Credit Lines" but if your not convince
then search the document for "Savings Account"

See we do get people here that do homework and back up a statement with facts !

Nothing wrong with Linux but a lot of developers are windows spyware based and get locked out from code that won't even compile
in windows even when they say it will so they will like NEO because it's all windows and smart contracts can be written in C#

Not just China but Asia are locking the west out because they can see how people like Google and Microsoft have taken over
and we lock them out to so this time they are ready to play us at our own game. if gas was traded on more than just one exchange
then I think I might go for this one myself
 

ETH for about another year so long as it does not become mega popular (Won't cope)
Ripple in case government closes things down (Good coin for beginners)
Neo as modern replacement for ETH but only one exchange trades "Gas"
IOTA because it's 12 times faster than Bitcoin

Cardano but only because people are starting to talk about it not that I have had
the time to look at the nuts and bolts that all the slot-machine players forget about

But back in the real world people work with whole numbers and they all know that more or less a
GBP=EUR=USD and this is what 99% of people get paid in and it does not take a genius to see
that Bitcoin has become your religion.

I put real money into the machine so fees shown like that are fine with me

You better hope NOT and this guy only scratches the surface of whats wrong with it
https://www.youtube.com/watch?v=UYHFrf5ci_g
or you can read the noddy version where Bob falls in Love with Alice and they play Ping-Pong
https://bitcoinmagazine.com/articles/understanding-the-lightning-network-part-completing-the-puzzle-and-closing-the-channel-1466178980/
Here is the white-paper https://lightning.network/lightning-network-paper.pdf
But if you want my version then see my post here https://bitcointalk.org/index.php?topic=2776719.msg28395400#msg28395400

Notice the abuse I get, don't shoot the postman  

Yes fees have killed it and sent me off down the road of looking at the Lightning Network
and for those of you who don't know yet it includes banking hubs and not just Bob and Alice
like they want you to believe https://bitcointalk.org/index.php?topic=2776719.msg28395400#msg28395400


it says

I am not a human calculator so how do you get from 49,500 to $6 and why don't they just show in
in the first place

Note: Bitcoin block chain is replicated

That's a mentally high number so i get how the word gets around (Gossip about gossip) but how the hell
do they get nodes to record and store this information in what must be a distributed block-chain split between
nodes and know how to put it back together to find anything.




   

Maybe because of the conversion fee to new address and few exchanges or known wallets like Exodus and Jaxx work with it and the output
addresses also have to be Segwit to save you money on fees and then (i am told) the savings are low

Never again will I bet taken in by "Virtually free transaction fees" and that includes LN and the banker/hub fees because it will be
the miners that are running the big banking hubs that they like to hide when talking about Bob playing ping-pong with Alice

I agree and fees kept going up afterward to peek at $55 and I was corrected today about Tx fees being at $30 because they
are at $15 when i checked so from now onward I will use $25 when talking about the fees to reflect the mid price

See mempool https://blockchain.info/charts/mempool-size
At about 135,000 so given the backlog how come before now the miners have been charging $35 +
when we were at these levels if it was market forces and not out and out collusion within the mining
pool monopoly and I have a graph for that too https://blockchain.info/pools

Ten top miners control 90% of the network

Lightning network is well complicated and has lots of code to deal with transactions within
the network so if a banking hub (in theory) goes bad you can broadcast to the BTC network
to get you money back

See white paper https://lightning.network/lightning-network-paper.pdf

what people are not getting about lightning is that just because you deposit your
money at the bank in a ledger it is not the banks money (You can get it back) and the bank has to forward
it own money out from a separate ledger on to the next bank before Alice gets paid

See http://forum.cryptolivecap.com/posts/t31-Lightning-Network  
Dave is this case is the bank  or watch https://www.youtube.com/watch?v=UYHFrf5ci_g

I gave you the link, it says $15 so get your nose out of the miners bum because it's gone brown

Lets see a link that has them at $5

Well that would cost me $15 to convert, won't work with my Jaxx or Exodus wallet that I like or
shapeshift or most of the exchanges and why should I pay for the because the developers decides
to break backwards compatibility without asking us first

Man why you defending the bankers and the $1-2 is bull even if sending to Segwit address 
not that I know any

I like a man with attitude so wait a few seconds and I will check the charts and be right back to you

Nope it's $15 according to this https://bitinfocharts.com/comparison/bitcoin-transactionfees.html
and was about $30 a week ago when I last looked but I will reduce it to $25 to take in to account
the $55 it was at. Ripple fees are so low that they don't show up on most charts so if $5.00 makes you feel smart then jobs
a good one.

The dispersed network theory where even if everyone kept open two channels instead of just one because these things
are expensive in miner fees has been blown out the water and it would be like trying to use the Tor network with 300 relay nodes
and that's if you could workout the routing.

I contend that having banking hubs is centralization and was a bank to go down then people would broadcast a message
on the Bitcoin network en-mass and the BTC block-chain at just 7 transactions per second could not cope with demand and unless all
the LN internal channels are able to close down gracefully then chaos would ensue.

In the lighting Network white paper they even talk about "Spending accounts" and "Saving Accounts" to be used for security
and reading whats shown below I can even image insurance brokers being built into the network to reduce risk


Yes sure, here you go miners have another $30 on me and just where is that button in my
wallet to contest transaction since it is built into the protocol or will the banking nodes all
be running much more sophisticated software which put paid to the saying "Anyone can be a bank"