Why I Want Lightening Network

[AliceWonderMiscreations]

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?

[1714904852]

1714904852

[1714904852]

1714904852

[raj1]

not a bad thought you have.many users persent here hates these kinds if banners who just irritate us in our work but i didnt get the line clearly.

I believe Lightning Network will make that possible without bloating the blockchain with constant micropayments.

if you are saying about the smaller transactions then i think somehow you are wrong many newbies lives on faucets and advertisements for their earning well i am not a newbie anymore and i dont like advertising that much but we can't stop small transactions

[darkstarzz69]

I think having a third party source in between to collect possibly monthly payments and, getting a fee and paying this websites would be better suited and would work irregardless of the network type since there will not be micropayments. Don't think such a service exists yet. But then again there are multiple ad blockers available to bypass this.

[AliceWonderMiscreations]

not a bad thought you have.many users persent here hates these kinds if banners who just irritate us in our work but i didnt get the line clearly.

I believe Lightning Network will make that possible without bloating the blockchain with constant micropayments.

if you are saying about the smaller transactions then i think somehow you are wrong many newbies lives on faucets and advertisements for their earning well i am not a newbie anymore and i dont like advertising that much but we can't stop small transactions

No I am not saying I want to stop small transactions.

I am saying that Lightening Network will allow small transactions to take place at a much larger scale without quickly using up the capacity in the blockchain.

I am very pro small transactions and I certainly don't want to ever stop any kind of transaction that is valid (inputs = outputs + fee) from hitting the blockchain.

But I believe Lightning Network will make very large quantities of micro payments possible with very little impact on the blockchain allowing for business models that operate on the concept of micropayments.

Basically you and I are in agreement. Micropayments are a good thing to have.

[AliceWonderMiscreations]

I think having a third party source in between to collect possibly monthly payments and, getting a fee and paying this websites would be better suited and would work irregardless of the network type since there will not be micropayments. Don't think such a service exists yet. But then again there are multiple ad blockers available to bypass this.

I don't personally like monthly payments. I like to pay for what I use when I use it.

[Jet Cash]

I believe micro-payments ( and some other things) should be moved onto side-chains, so I guess I agree with you. Is Lightning network the best way to do this? I can't comment, as I haven't reserched LN - maybe it's time I looked at it.

[Gimpeline]

I too like the idea of Lightning network so I hope it will become a reality

[NorrisK]

not a bad thought you have.many users persent here hates these kinds if banners who just irritate us in our work but i didnt get the line clearly.

I believe Lightning Network will make that possible without bloating the blockchain with constant micropayments.

if you are saying about the smaller transactions then i think somehow you are wrong many newbies lives on faucets and advertisements for their earning well i am not a newbie anymore and i dont like advertising that much but we can't stop small transactions

Isn't that the whole idea? Not to stop the micro transactions, but to remove them from the main chain to remove all the small traffic from congesting the highway? It will probably even increase the faucet income as you don't have to pay a 10k satoshi transaction fee anymore to send 100k satoshi.

Also, I guess it would be great for fast transactions where a confirmation normally is wanted, but you have no time to wait for the confirmation.

[vlamer]

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

[Carlton Banks]

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.

[Amph]

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

[vilain]

not a bad thought you have.many users persent here hates these kinds if banners who just irritate us in our work but i didnt get the line clearly.

I believe Lightning Network will make that possible without bloating the blockchain with constant micropayments.

if you are saying about the smaller transactions then i think somehow you are wrong many newbies lives on faucets and advertisements for their earning well i am not a newbie anymore and i dont like advertising that much but we can't stop small transactions

If a system is not capable of handling small transactions then it's not  a system reliable at all...

All amounts of btc exchange should be allow to go through via the blokchain, that's a must for the very existence of bitcoin.

[Carlton Banks]

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.

 

[AliceWonderMiscreations]

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.

Maybe not, but those pictures I took of them in the parking lot at that strip club in Switzerland might compel them to change their minds...

[bargainbin]

I hate advertisements.
< >
Your thoughts?

Transacting off-chain is not transacting in Bitcoin, by definition. It's also not limited to LN. People can use fiat, Doge, shitcoin-of-choice.

[HostFat]

http://codesuppository.blogspot.it/2016/02/the-lightning-network-is-so-great-that.html

Try to avoid dreaming, wait until it is out for real.

[gentlemand]

There are options out there that do the job right now. They're centralised but if peanuts are involved then who cares? LN may be a miracle or a load of old bollocks. Nothing's been proven either way yet.

[pereira4]

Yes, the way the Lightning Network works is, it gathers a ton of small micropayments, even picopayments, and then makes a nice package big enough for it worth sending into the blockchain. This way you don't bloat the blockchain with stupid transactions. I can't wait for it to be active so we can start competing against Paypal in a realistic way.

[commandrix]

I dislike advertisements too, but that's practically the business model of the Internet. I recommend using Adblock, and keep in mind that some website owners earn a significant portion of their income through advertising. Yes the microtransactions are annoying, but that's what we're gonna have to live with until more buyers and sellers of advertising, coffee and other low value products accept a cryptocurrency other than Bitcoin.

[bargainbin]

http://codesuppository.blogspot.it/2016/02/the-lightning-network-is-so-great-that.html

Try to avoid dreaming, wait until it is out for real.

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?"