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watashi-kokoto
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February 27, 2016, 08:02:34 PM |
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It might be fine for microtransactions, but no business in its right mind would want to lock up non-trivial amounts of bitcoins in payment channels; it's an invitation to regulation and market corrections.
Anybody can settle the tied up funds anytime. The question is , would the on-chain confirmation regulated? If anybody can prevent the channel closure from confirmation, then the same individual could effectively freeze any bitcoin even under the current rules. Only difference is the channel closure has a specific close time window, so yes, the risk is slightly larger, but not significantly. We'll see |
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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BlindMayorBitcorn (OP)
Legendary
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Activity: 1260
Merit: 1115
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February 27, 2016, 08:04:37 PM |
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It might be fine for microtransactions, but no business in its right mind would want to lock up non-trivial amounts of bitcoins in payment channels; it's an invitation to regulation and market corrections.
Anybody can settle the tied up funds anytime. The question is , would the on-chain confirmation regulated? If anybody can prevent the channel closure from confirmation, then the same individual could effectively freeze any bitcoin even under the current rules. Only difference is the channel closure has a specific close time window, so yes, the risk is slightly larger, but not significantly. We'll see Is there a Blockstream dev currently working on LN? I thought sidechains like Liquid were more their angle. |
Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
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watashi-kokoto
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February 27, 2016, 08:22:05 PM |
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Is there a Blockstream dev currently working on LN? I thought sidechains like Liquid were more their angle.
[1] Lightning Network by Joseph Poon and Thaddeus Dryja (website), github repository (golang) [2] Deployable Lightning by Rusty Russel (Blockstream), github repository (C) [3] Thunder Network by Mats Jerratsch (Blockchain.info), github repository (Java) The way i see it , the sidechain approach makes sense for now . It cannot be seriously used until the malleability is fixed by segwit. Once that's done, lightning will be developed for the real blockchain |
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BlindMayorBitcorn (OP)
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Merit: 1115
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February 28, 2016, 11:16:35 AM |
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Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
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coinplus
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Activity: 1386
Merit: 1058
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February 28, 2016, 03:03:37 PM |
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Well done Block Stream
Blockstream’s core area of innovation is sidechains, a technology focused on improving on the blockchain, the most powerful public utility for distributed trust systems.
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BlindMayorBitcorn (OP)
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Activity: 1260
Merit: 1115
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February 28, 2016, 03:23:12 PM |
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Blockstream’s core area of innovation is unspeakable evol and an unquenchable lust for power.
That don't seem right.  |
Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
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chopstick
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Activity: 992
Merit: 1000
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February 28, 2016, 05:57:41 PM |
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Blockstream has announced $55 million in series s funding to further enhance our sidechain technology, expand their operations globally for total investments up to $76 million. That's really great to hear.
Too bad the money is coming (partially) from a Bilderberger and HSBC banking boardmember lol |
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BlindMayorBitcorn (OP)
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Activity: 1260
Merit: 1115
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February 28, 2016, 06:46:14 PM |
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Blockstream has announced $55 million in series s funding to further enhance our sidechain technology, expand their operations globally for total investments up to $76 million. That's really great to hear.
Too bad the money is coming (partially) from a Bilderberger and HSBC banking boardmember lol  |
Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
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owm123
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February 28, 2016, 09:33:26 PM |
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Blockstream has announced $55 million in series s funding to further enhance our sidechain technology, expand their operations globally for total investments up to $76 million. That's really great to hear.
I miss the times when bitcoin was developed by individuals in fight with financial system, corporations, banks, etc. Few years later, development of bitcoin core is driven exactly by what orginal bitcoin creator/creators wanted to combat. |
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BlindMayorBitcorn (OP)
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March 04, 2016, 11:10:21 PM
Last edit: March 05, 2016, 12:00:27 AM by BlindMayorBitcorn |
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“My basic thesis was this: anyone who was dumb enough to think that they could make money reviewing television shows would pay $49 dollars for a training program,” said Hill. “And anyone who is that lazy will never complete the training program. So they’d just give up and I could sell a $2 dollar training program for $49.”
It worked: he made about $100,000 in three months. (At that point the crowd gave him an ovation... -snip-
http://betakit.com/montreal-angel-austin-hill-failed-spectacularly-before-later-success/ |
Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
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Cconvert2G36
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March 04, 2016, 11:45:53 PM |
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Bitcoiner, you've gotta ask yourself one question: "Do I feel dumb?" Well, do ya, punk?
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chopstick
Legendary
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Activity: 992
Merit: 1000
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March 05, 2016, 12:34:52 AM |
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“My basic thesis was this: anyone who was dumb enough to think that they could make money reviewing television shows would pay $49 dollars for a training program,” said Hill. “And anyone who is that lazy will never complete the training program. So they’d just give up and I could sell a $2 dollar training program for $49.”
It worked: he made about $100,000 in three months. (At that point the crowd gave him an ovation... -snip-
http://betakit.com/montreal-angel-austin-hill-failed-spectacularly-before-later-success/And this guy is the fucking CEO of blockstream. HAHAHA. Man, it just keeps getting worse and worse. |
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