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Author Topic: [Warning] Bitcoin layers are not here to stay.  (Read 184 times)
Reatim
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May 27, 2024, 11:30:55 AM
 #21

What they want to do is to cash in on the popularity of Bitcoin, otherwise, I don't see any reason for a bunch of developers to try and be the next Bitcoin when if they are capable enough, they can create good cryptocurrencies and blockchains that will help people in one way or the other and they will still get their fair share of popularity within the market.

As mentioned by others, if a blockchain is fast, has lower transaction fees, lower confirmation times, and is secure, it will get a lot of users in the market because we know that people like fast and secure blockchains that they can use for their daily transactions without having to worry about rising transaction fees and congested mempools.
There really is no direct way for developers to earn from trying to improve bitcoin as there is no entity that directly owns bitcoin as a whole. However there are companies that may hire developers to try and find them ways to improve on bitcoin so they benefit from it.

I am sure many companies especially one that handles exchanges would want huge profits so if they are prioritizing that over developing bitcoin then there is nothing we can do.

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franky1
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May 28, 2024, 12:31:22 AM
 #22

bitcoin network does have methods to lock value in a way that it can be used as a reference that cant change(be spend) until condition met
however many current generation subnetworks including LN do not have secure, audited and protected way to use such reference that cant be manipulated within the subnetwork side

LN for instance can set up channels where partners dont use fresh locked value but value which one partner locked months/years before even knowing the partner
also LN can open channels without even a utxo lock reference
also the users cant tell if the partners are or not using the same utxo reference with someone else elsewhere in the network

LN's design cant prevent these flaws due to its underlying design. so fresh new generation subnetworks need to start from scratch that offer the niche side services below what bitcoin does

there wont be a single subnetwork that solves all bitcoiners needs and LN never has nor ever will come close to trying. however different groups/services will have niches of services that will create next gen subnetworks(plural) that do a better job then the current subnetworks offerings

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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