SegWit and LN are really interesting altcoins... but that is not Bitcoin.

[franky1]

and no, deflating the monetary base by adding monero is not the same thing as inflating it, for the trillionth time

You've got the insider knowledge on this one Franky, do tell us:

How many millisats will Blockstream be adding to the Bitcoin monetary base? How many, what number?

we both know ur just trolling.
here is the conversations we both know about

https://bitcointalk.org/index.php?topic=1642269.0

no point repeating your failed arguments

[Carlton Banks]

How many millisats will the Bitcoin 21 million limit be inflated by? It's zero, isn't it?

[franky1]

How many millisats will the Bitcoin 21 million limit be inflated by? It's zero, isn't it?

as discussed before..
bitcoin should not even propose to extend the units of measure.

it is however ONLY YOU that is trolling to suggest bitcoin should extend.

but staying in reality!!!
while bitcoin does not have any extra units of measure and where i and thousands of others agree should never change.
a blockstream LN signed payment is not compatible with bitcoin.

have a nice day

[Carlton Banks]

What, the thousands of people who have you on ignore?


How many extra BTC, millibits, satoshis, or millisats are going to be added to the 21 million maximum? How can they possibly be added if they're for an altcoin, as you claim further up the thread? You've lost it, Franky lol

[TKeenan]

OP is a shit talking idiot, QED

How in the world is it that the mods don't ban you? 

You are garbage man.  Pure, unadulterated stinking garbage. 

How about if you argue the science instead of calling names?

[franky1]

bitcoin has
2,100,000,000,000,000 units of measure called satoshi's
at the front end GUI (human decision after the fact) humans call
100,000,000 units...  1btc (one bitcoin) but this is just GUI display. not codebased

blockchains LN has
2,100,000,000,000,000,000 units of measure called millisats
at "instant payment" level LN calls
100,000,000,000...  1btc (one bitcoin) but this is just GUI display. not code based

signing an LN payment to give someone 100,000,000,000millisats which LN deems to be 1btc
ends up with a signature and txid that is not the same as a bitcoin tx of 1btc

thus it gets rejected

EG
on bitcoin you deposit
100,000,000sats (called 1btc)
then using a totally different node you are credited with
100,000,000,000millisats (called 1btc but this is just GUI display. not code based)

you trade and sign transactions in millisats. knowing that those signed transactions will get rejected by bitcoin.

the only way to settle back on bitcoin is to create a bitcoin compatible transaction by destroying the millisats and then separately agreeing to satoshi amounts the peers think each other deserves from the earlier bitcoin deposit done before even using LN. and sign it as a bitcoin transaction

again playing with millisats on a different codebase/node, which blockstreams LN is. where its promised a 1sat:1000millisat peg
is the same as playing with moneros codebase/node, where someone promises you a 1btc:1000monero peg

[SkankHunt42]

Segwit and Lightning both transact Bitcoins, on the Bitcoin network.

You're relying on your audience being too stupid or too lazy to check this for themselves. That's not a very good strategy, anyone can check for themselves, and confirm you're talking nonsense.

I checked Carlton Banks paid Blockstream shill

[Carlton Banks]

bitcoin has
2,100,000,000,000,000 units of measure called satoshi's
at the front end GUI (human decision after the fact) humans call
100,000,000 units...  1btc (one bitcoin) but this is just GUI display. not codebased

blockchains LN has
2,100,000,000,000,000,000 units of measure called millisats
at "instant payment" level LN calls
100,000,000,000...  1btc (one bitcoin) but this is just GUI display. not code based

signing an LN payment to give someone 100,000,000,000millisats which LN deems to be 1btc
ends up with a signature and txid that is not the same as a bitcoin tx of 1btc

thus it gets rejected

EG
on bitcoin you deposit
100,000,000sats (called 1btc)
then using a totally different node you are credited with
100,000,000,000millisats (called 1btc but this is just GUI display. not code based)

you trade and sign transactions in millisats. knowing that those signed transactions will get rejected by bitcoin.

the only way to settle back on bitcoin is to create a bitcoin compatible transaction by destroying the millisats and then separately agreeing to satoshi amounts the peers think each other deserves from the earlier bitcoin deposit done before even using LN. and sign it as a bitcoin transaction

again playing with millisats on a different codebase/node, which blockstreams LN is. where its promised a 1sat:1000millisat peg
is the same as playing with moneros codebase/node, where someone promises you a 1btc:1000monero peg

See, you've been working on that post for a whole hour, haven't you?



Problem: there are no LN miners to mine this imaginary Lightning blockchain that you're making up. 2nd layer != different chain



And I love the early part of your post where you (in effect) admit your BS: any increase in granularity is not going to inflate the supply. Increasing the divisibility of a money is called monetary deflation.

So, Franky, the Bitcoin supply will increase by exactly zero, just like I said. Any more bullshit?

[Carlton Banks]

I checked and Carlton Banks is a paid Blockstream shill

Show us the link you checked.

[TKeenan]

Segwit and Lightning both transact Bitcoins, on the Bitcoin network.

You're relying on your audience being too stupid or too lazy to check this for themselves. That's not a very good strategy, anyone can check for themselves, and confirm you're talking nonsense.

I checked and Carlton Banks is a paid Blockstream shill

This pretty much explains why is an asshole like the whole bunch of those idiots at Blockstream trying to own bitcoin via the liquid bullshitery.

[franky1]

bitcoin has
2,100,000,000,000,000 units of measure called satoshi's
at the front end GUI (human decision after the fact) humans call
100,000,000 units...  1btc (one bitcoin) but this is just GUI display. not codebased

blockchains LN has
2,100,000,000,000,000,000 units of measure called millisats
at "instant payment" level LN calls
100,000,000,000...  1btc (one bitcoin) but this is just GUI display. not code based

signing an LN payment to give someone 100,000,000,000millisats which LN deems to be 1btc
ends up with a signature and txid that is not the same as a bitcoin tx of 1btc

thus it gets rejected

EG
on bitcoin you deposit
100,000,000sats (called 1btc)
then using a totally different node you are credited with
100,000,000,000millisats (called 1btc but this is just GUI display. not code based)

you trade and sign transactions in millisats. knowing that those signed transactions will get rejected by bitcoin.

the only way to settle back on bitcoin is to create a bitcoin compatible transaction by destroying the millisats and then separately agreeing to satoshi amounts the peers think each other deserves from the earlier bitcoin deposit done before even using LN. and sign it as a bitcoin transaction

again playing with millisats on a different codebase/node, which blockstreams LN is. where its promised a 1sat:1000millisat peg
is the same as playing with moneros codebase/node, where someone promises you a 1btc:1000monero peg

Problem: there are no LN miner to mine this imaginary Lightning blockchain you're making up. 2nd layer != different chain

And I love the early part of your post where you (in effect) admit your BS: any increase in granularity is not going to inflate the supply. Increasing the divisibility of a money is called monetary deflation.

So, Franky, the Bitcoin supply will increase by exactly zero, just like I said. Any more bullshit?

i made no mention of mining.. are you that deluded to not even read the content of posts!!
LN is just about SIGNING
Liquid is an altcoin. and guess what there is no mining involved in that
Ripple is an altcoin.. and guess what.. yep, again no mining
NXT is an altcoin.. and guess what.. yep. again no mining


really wonder what drugs ur taking.. to even think mining even ever came into the debate about LN

and as for the inflation/deflation.. you have again lost the plot..
adding more units into circulation is called inflation... renaming a certain allotment of units to hide the more units in circulation doesnt change anything.

wake up!!

and its only been you that has shown desire to add more units of measure..
sorry but go play with infinity coin if you want more units of measure.

smart people dont want to screw with bitcoins unit of measure cap (coded as 2,100,000,000,000,000 satoshis)

[Carlton Banks]

again playing with millisats on a different codebase/node, which blockstreams LN is. where its promised a 1sat:1000millisat peg
is the same as playing with moneros codebase/node, where someone promises you a 1btc:1000monero peg

Problem: there are no LN miner to mine this imaginary Lightning blockchain you're making up. 2nd layer != different chain

there is no mention if mining.. are you that deluded!!

You imply a separate blockchain for Lightning transactions in your waffle, so try not to mention such things if you don't want them to be led to their illogical conclusion, lol

and as for the inflation/deflation.. you have again lost the plot..
adding more units into circulation is called inflation... renaming a certain allotment of units to hide the more units in circulation doesnt change anything.

wake up!!

and its only been you that has shown desire to add more units of measure..
sorry but go play with infinity coin if you want more units of measure.

smart people dont want to screw with bitcoins unit of measure cap (coded as 2,100,000,000,000,000 satoshis)

How

Many

Units

Will

Be

Added

Answer

The

Question

Franky

[Carlton Banks]

How many extra units will be added to the 21 million maximum, o' font of Bitcoin knowledge Lord Franky Nakamoto?

[SkankHunt42]

Segwit and Lightning both transact Bitcoins, on the Bitcoin network.

You're relying on your audience being too stupid or too lazy to check this for themselves. That's not a very good strategy, anyone can check for themselves, and confirm you're talking nonsense.

I checked and Carlton Banks is a paid Blockstream shill

This pretty much explains why is an asshole like the whole bunch of those idiots at Blockstream trying to own bitcoin via the liquid bullshitery.

paid shill with finger in blockstream's $55 million

[Carlton Banks]

Segwit and Lightning both transact Bitcoins, on the Bitcoin network.

You're relying on your audience being too stupid or too lazy to check this for themselves. That's not a very good strategy, anyone can check for themselves, and confirm you're talking nonsense.

I checked and Carlton Banks is a paid Blockstream shill

This pretty much explains why is an asshole like the whole bunch of those idiots at Blockstream trying to own bitcoin via the liquid bullshitery.

fuckin' paid shill who benefits somehow from blockstream's $55 million

Link your evidence.

[franky1]

You imply a separate blockchain for Lightning transactions, so try not to mention such things if you don't want them to be led to their illogical conclusion, lol

i said altcoin. you said miner
i said altcoin. you said blockchain.

there are MANY altcoins without needing mining
there are MANY altcoins without a blockchain

and as for the inflation/deflation.. you have again lost the plot..
adding more units into circulation is called inflation... renaming a certain allotment of units to hide the more units in circulation doesnt change anything.

wake up!!

and its only been you that has shown desire to add more units of measure..
sorry but go play with infinity coin if you want more units of measure.

smart people dont want to screw with bitcoins unit of measure cap (coded as 2,100,000,000,000,000 satoshis)

How Many Units Will Be Added Answer The Question Franky

LN is an altcoin because the units of measure do not match thus making signatures not match and txids not match.
if you compared a bitcoin tx measured in sats to a LN tx measured in millisats.
they do not match they are not compatible just like monero and bitcoin are not compatible.

no one of any intelligence and coding knowledge is proposing to add any units. so LN payments are not compatible, thus LN is an alt.
with btc hodled on bitcoins blockchain people are credited with and play around with millisats using a different codebase/node.

it was only you that suggested it would be compatible if bitcoin added some units

you know they are not compatible with bitcoin

Millisats can't exist on the blockchain until the Bitcoin code allows that amount of granularity,

by the way i laugh when your own words ruin your own argument

[Carlton Banks]

How can the different units be "incompatible altcoins" AND constitute monetary inflation. You're going to need to pick one or the other, because they cannot both be true at once.


(hint: they're both false, lol)

it was only you that suggested it would be compatible if bitcoin added some units

you know they are not compatible with bitcoin

Millisats can't exist on the blockchain until the Bitcoin code allows that amount of granularity,

Right before that, I said that any notion of "compatibility" doesn't make any sense before change to the codebase. That's not called "incompatible", that's what's known as "impossible".

And of course, once any change to the unit granularity is made, there won't be any question of  compatibility then either, as Lightning is just a different type of Bitcoin transaction. No more, no less.

[franky1]

How can the different units be "incompatible altcoins" AND constitute monetary inflation. You're going to need to pick one or the other, because they cannot both be true at once.

(hint: they're both false, lol)

1. REALITY: bitcoin wont accept more units because it screws the maximum possible units that are minable within bitcoin
   REALITY: bitcoins stay in one place onchain and on a different codebase people play around with something they have been credited with (an altcoin)
   REALITY: a LN payment dual-signed to show: A owns XXmillisats and B owns XX millisats will get rejected by bitcoin.

2. THEORETICAL SCENARIO: in your dream where you had millisats included in bitcoin (not going to happen, but talking about your dream) it would be inflation

[Carlton Banks]

Qualify any of those statements with facts lol. Off you go to en.bitcoin.it Franky, see you back here in an hour, huh (Franky's doing his homework ). You might need to get dictionary.com ready in another tab, lol

[TKeenan]

Qualify any of those statements with facts lol. Off you go to en.bitcoin.it Franky, see you back here in an hour, huh (Franky's doing his homework ). You might need to get dictionary.com ready in another tab, lol

A negroloid telling others to get a dictionary, lol.  Hey 'thug', how's life?