Convince me that SegWit is necessary

[stdset]

And btw, let's think who is interested in spreading FUD about Segwit and LN, going as far as making ridiculous statements such as 'segwit is an altcoin'?

Should Bitcoin as it is now go mainstream, even with 20 MB blocks it won't be able to process daily payments of average Joe. So business of payment processors such as Visa will be unaffected. Nothing prevents them from being able to process payments denominated in Bitcoin just like they do it now with USD. That means of course that people will have to put their BTC in banks, fractional reserve banks precisely speaking. So Visa's business is unaffected, bank's business is less affected. Well it's a little conspiracy theory, don't take it too seriously.

[1714694282]

1714694282

[Swisscoinex]

Should Bitcoin as it is now go mainstream, even with 20 MB blocks it won't be able to process daily payments of average Joe.

The way bitcoin works is more akin to a settlement layer, not really a payment processor processing thousands of small-size transactions per second. I think we will need off-chain scaling solution to achieve mainstream if you want to maintain the useful properties that bitcoin has today.

[stdset]

I think we will need off-chain scaling solution to achieve mainstream if you want to maintain the useful properties that bitcoin has today.

That's what we are more or less talking about.

[BitcoinBarrel]

Why do we need Lightning Network again?

[pianist]

Why do we need Lightning Network again?

Because we need to scale 1000000x solution. Not fucking 2x or 10x.

We need really cheap micro-payments.
We need INSTANT micro-payments, faster than 0.1 second.
We need SECURE INSTANT micro-payments.

We need BTC for 1 000 000 000 users, not for fucking early adopters, who does not understand how segwit/LN work, but they have their fucking opinion...

[Yogafan00000]

Why do we need Lightning Network again?

Because we need to scale 1000000x solution. Not fucking 2x or 10x.

We need really cheap micro-payments.
We need INSTANT micro-payments, faster than 0.1 second.
We need SECURE INSTANT micro-payments.

We need BTC for 1 000 000 000 users, not for fucking early adopters, who does not understand how segwit/LN work, but they have their fucking opinion...

Agreed.  I'm sick of paying 25 cents worth of Bitcoins in fees to pay $20 to an online retailer and having to wait 19 hours for 1 confirmation.

It should be fast.
It should be cheap.
It should be perfect.

SegWit and LN are the best proposals so far that I have heard that can help towards achieving these goals.

[TransaDox]

SegWit and LN are the best proposals so far that I have heard that can help towards achieving these goals.

Any side-chain can do that and it wouldn't need to modify the bitcoin protocol. So. As a maleability "fix" it's a bit of a sledgehammer to crack a nut with a rather large cost in data storage and distribution. The question is then; why is the tail wagging the dog?

[pereira4]

I haven't heard one good reason to upgrade to SegWit. Just a bunch of nonsense about the network not being able to scale. Seems to be scaling just fine to me....

Is the whole network going to crash if there is a million unconfirmed transactions? I don't think so.

Where did all the SegWit supporters come from all of a sudden? Many users registering in the last month all of a sudden know everything about why Bitcoin needs SegWit.

Well, would you say that all the knowledgeable people (such as Andreas Antonopulos) are randomly saying that segregated witness is a must to be activated before we plan in increasing block size? those guys make a living out of knowing how bitcoin works, if all the best minds in the game agree that segwit is good, there must be something about it right? im not saying blindly believe the experts, do your research, but the fact the experts agree should tell you something already.

[X7]

Why does someone have to convince you that progress is necessary for innovation to continue?

Stagnation and it's subsequent results should be enough motivation. Change is a part of life, I prefer to be on the right side of it.