svdleer
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Activity: 112
Merit: 10
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December 17, 2017, 11:32:50 PM |
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big dump ...
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petahashminer
Legendary
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Activity: 1890
Merit: 1037
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December 17, 2017, 11:34:55 PM |
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lol so big  |
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nikauforest
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December 17, 2017, 11:36:51 PM |
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A potential flaw in Lightning is the cost to open and close a channel. The fees are high enough that the average user might find it difficult to get onto payment channels. ALso the motivation to do so by the time they roll it out might not be there.
Indeed, that is the crux with lightning: the cost to open/close a channel. Or equivalently, the blockchain space. However, channels can be kept open indefinitely. No need to close them if you don't have to cash out and just re-use those new incoming btc for new expenses. The way things are now, re-funding a channel also involves a blockchain transaction. However, and it's a big however IMO, this kind of issues is already being addressed. I am aware of at least one possible solution that allows multiple channels to be opened together, with one single transactions (and closed too? I'm not sure about that, gotta find the source again). Of course the opening wouldn't be immediate, as the system must find the required number of participants to share the blockchain fee. It's a mechanism akin to coinjoin, with extra crypto to secure the joining/unjoining steps. The bottom line is: once L2 really starts working and gets acceptance, there are several technical tricks that can be played to squeeze utility out of it, significantly limiting recourse to L1 (the base blockchain). Ideally, such L1 transactions would only be used in special cases, when really necessary. Enduring transaction costs such as the current ones hurts. It hurts me too, to the point that I chose traditional banking over bitcoin for some of my smaller recent transactions. However, after some research, I am an informed optimist. Hey thanks for that post. I want be an informed optimist too. I need to do more research like you have done. |
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orpington
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December 17, 2017, 11:36:55 PM |
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lol so big yeah I'm so scared  |
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realr0ach
Sr. Member
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Activity: 924
Merit: 311
#TheGoyimKnow
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December 17, 2017, 11:37:39 PM |
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Fees are too expensive already.
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Coinnosaurus
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December 17, 2017, 11:38:50 PM |
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public execution or moon ?  |
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orpington
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December 17, 2017, 11:39:12 PM |
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public execution or moon ? neither |
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nikauforest
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December 17, 2017, 11:42:22 PM |
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Fees are too expensive already.
Wow the world has gone completely nuts! |
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sirazimuth
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Activity: 3528
Merit: 3617
born once atheist
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December 17, 2017, 11:55:00 PM |
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Smoothie, how come you are so fast to answer everywhere? I am starting to wonder if you have hired people or scripted bots to make your replies. You tend to write a new answer faster than I read the new posts in the interesting threads. Respect. Tongue
who the hell is Smoothie? you didn't quote so no idea what you are on about... |
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realr0ach
Sr. Member
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Activity: 924
Merit: 311
#TheGoyimKnow
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December 17, 2017, 11:56:54 PM |
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Smoothie, how come you are so fast to answer everywhere? I am starting to wonder if you have hired people or scripted bots to make your replies. You tend to write a new answer faster than I read the new posts in the interesting threads. Respect. Tongue
who the hell is Smoothie? you didn't quote so no idea what you are on about... Some guy who lives in Hawaii who used to make physical bitcoins and portray them being gold colored and stuff to try and pretend bitcoin has any similarities to real wealth/metals like all bitcoin people do. |
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HairyMaclairy
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Activity: 1414
Merit: 2174
Degenerate bull hatter & Bitcoin monotheist
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December 17, 2017, 11:57:32 PM |
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Fees are too expensive already.
Wow the world has gone completely nuts! Fox News Troll Bait is Best Troll Bait. |
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Rosewater Foundation
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December 17, 2017, 11:58:56 PM |
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Great way to derail a thread. R0ach could teach a course in it.
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ragnar0k
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December 18, 2017, 12:05:16 AM |
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Hmm looks like its going to be pretty boring this CME
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Rosewater Foundation
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December 18, 2017, 12:11:31 AM |
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Hmm looks like its going to be pretty boring this CME
Looks like the short is in. If you ask me. |
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ragnar0k
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December 18, 2017, 12:13:00 AM |
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Hmm looks like its going to be pretty boring this CME
Looks like the short is in. If you ask me. Yep.. but there's almost no volume |
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JayJuanGee
Legendary
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Activity: 3892
Merit: 11128
Self-Custody is a right. Say no to"Non-custodial"
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December 18, 2017, 12:17:05 AM |
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I suppose you want me to assume that it is miners that are spamming. Why not assume that they are aware of networking effects and that it is to their interest to not spam, but allow as many legitimate transactions as possible? The bcash gang is excluded from this assumption by definition!
It's bleeding obvious it's them. As soon as it looked like Segwit2X was a go fees went from dollars to near free in a matter of hours. Funny that. I think this particular time it is conceivable this is pure demand as we're manic, but in the past it was pure spamming to push the big block agenda. Don't get caught up with the bullshit propaganda. We still have spamming going on, organic growth does not look like our current situation, so why give benefit of the doubt that spamming has stopped, when you clearly know that spamming was occurring in the past, similar pumping of Bcash and alts motives exist, similar bashing of the functionality of bitcoin exists, and the current pattern of clogging of the network does not really appear to be much different than from those past spamming incidents. |
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Rosewater Foundation
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December 18, 2017, 12:22:47 AM |
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Hmm looks like its going to be pretty boring this CME
Looks like the short is in. If you ask me. Yep.. but there's almost no volume More a slow grind, perhaps. We probably deserve it |
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realr0ach
Sr. Member
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Activity: 924
Merit: 311
#TheGoyimKnow
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December 18, 2017, 12:28:49 AM |
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Here's a bit of comedy gold. First Martin Armstrong was telling everyone to dump gold and silver and they were going to "crash to the abyss" while they were at the rock bottom floor. Now after he's bought them at the floor he says:
“Our computers are showing that interest rates are going to go up faster than anybody has ever seen in history. . . . You are looking at a doubling of interest rates very, very rapidly. . . . Gold and equities are the place to be.”"
It's probably true, they will try to normalize interest rates but can't service the debt without hyperinflating the debts away, so mass money printing and metals to the moon incoming. The only problem with his "buy stawks" statement is that metals usually vastly outperform stocks in hyperinflation type scenarios, and whenever a govt's legitimacy is questioned from some type of currency crisis, the stocks always jump off a cliff first before inflating and that money goes to metals...and metals are already right near cost of production anyway.
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Hawkix
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December 18, 2017, 12:29:18 AM |
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Here we go ..
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DaRude
Legendary
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Activity: 2902
Merit: 1914
In order to dump coins one must have coins
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December 18, 2017, 12:36:11 AM |
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We're retargeting up by 18% in about 12hrs https://fork.lol/pow/retarget So frequency of mined blocks will go down by about that much. Meaning mempool and fees are going up short term. This is also the time when BTC is most vulnerable from that vector so if someone would start spaming this would be the time. tl;dr next 24hrs are critical |
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