Bitcoin Forum
November 18, 2017, 02:23:38 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2]  All
  Print  
Author Topic: Why I Want Lightening Network  (Read 1124 times)
bargainbin
Full Member
***
Offline Offline

Activity: 126



View Profile
February 26, 2016, 03:35:07 PM
 #21


From above:
"Even if the Lightning Network can handle billions and billions of transactions, it can only do so for the same few hundred thousand people who can hold value on the bitcoin network today.  The Lightning Network requires on chain transactions to open and close a channel, and the bitcoin blocksize gates the maximum number of channels people can open."

"For the Lightning Network to function, it requires that users and businesses lock up as much bitcoin as they would ever expect to transact over a given period of time. [...] So, for example, if someone opens a payment channel for $100, then the most money they can send is $100.  If they want to send $101, they simply cannot.  The channel is full, and they most close it and create a new one, or do an on-chain transaction for the $101 amount; which of course they can’t easily do because their bitcoin is already tied up in their LN channel. [...]
This creates a scenario where to transact significant amounts of value on the LN people will have to over-commit massive sums of bitcoin so these channels can remain open and have sufficient liquidity.  We have to ask, is it a ‘good thing’ to have to have massive quantities of bitcoin ‘locked up’ in payment channels simply so they can provide liquidity to users?"
1511015018
Hero Member
*
Offline Offline

Posts: 1511015018

View Profile Personal Message (Offline)

Ignore
1511015018
Reply with quote  #2

1511015018
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1511015018
Hero Member
*
Offline Offline

Posts: 1511015018

View Profile Personal Message (Offline)

Ignore
1511015018
Reply with quote  #2

1511015018
Report to moderator
1511015018
Hero Member
*
Offline Offline

Posts: 1511015018

View Profile Personal Message (Offline)

Ignore
1511015018
Reply with quote  #2

1511015018
Report to moderator
1511015018
Hero Member
*
Offline Offline

Posts: 1511015018

View Profile Personal Message (Offline)

Ignore
1511015018
Reply with quote  #2

1511015018
Report to moderator
Amph
Legendary
*
Offline Offline

Activity: 1694



View Profile
February 26, 2016, 03:48:32 PM
 #22

everyone has a reason want Lightening Network,including me.but Bitcoin is not belonging to one person or one group has a reason.

The Bitcoin Project does belong to one group: the dev team running the project. What I want, or you, or anybody else, is not going to change their minds.

only because the majority are fine with the current dev line up, especially merchants and chinese miners, but it may change in the future

You're right. But that was kind of what I meant by saying "the dev team running the project".

Forget the future, what about the past? That team changes every day, because anyone can submit a pull request to the code repo, and you can see that by looking at the statistics on Github; the same people working on Bitcoin 4 years ago aren't all working on it now. Some have gone, and other new faces have joined in. I wouldn't expect that to be any different in the future either.

 

i don't know right now, but there are miners and merchants among the core dev?

what if in the future the whole core dev is full of miners and merchants and they will work for their interest pretty much, it would be easy for them to dictate the progression of bitcoin in a chosen direction
Elwar
Legendary
*
Offline Offline

Activity: 2282


www.bitpools.com


View Profile WWW
February 26, 2016, 06:00:43 PM
 #23

I like Lightning Network because I can host a LN node and earn bits from people using it if they use my node.

http://www.bitpools.com
Pool your bitcoins with others. Vote on solutions using the Bitcoin blockchain. Keep your bitcoins in your cold storage until you find a solution you like.
Links and Reviews of useful every day places to spend bitcoins: https://bitcointalk.org/index.php?topic=943143.0
18xk5oT2rLrAc24SL96XT14BX
Jr. Member
*
Offline Offline

Activity: 48


View Profile
May 06, 2016, 06:45:27 PM
 #24

I hate advertisements.

Well I should qualify that - the way this web site does advertisements is fine, and if I see one here for something I am interested in I am very likely to click the link.

I hate advertisements that use JavaScript hovers and multimedia that auto-plays.

I don't use an advertisement blocker because I believe web sites need some way to monetize.

I do use Privacy Badger extension to FireFox because those advertisements do not have a right to track me, and that blocks quite a few, but not all.

Anyway I would gladly pay something like 25 cents an hour in micropayments to my favorite new sources etc. to read their content advertisement free. I believe Lightning Network will make that possible without bloating the blockchain with constant micropayments.

Your thoughts?
All amounts of btc exchange should be allow to go through via the blokchain, that's a must for the very existence of bitcoin.
staff_1307
Full Member
***
Offline Offline

Activity: 238



View Profile
December 05, 2016, 06:16:03 PM
 #25

I also hate advertising, and even if we use your idea, even so I do not view advertising, and yet, I use advertisement blocker.
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!