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Author Topic: Do you think lightning network test yesterday is the main reason of this spike?  (Read 237 times)
Don Pedro Dinero
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December 07, 2017, 10:38:34 AM
 #1

Lightning network was successfully tested yesterday:

https://medium.com/@lightning_network/lightning-protocol-1-0-compatibility-achieved-f9d22b7b19c4

Bitcoin has risen by 20% in the last 24 hours and it has as well regained dominance in the market, being now 63,7%. Supposedly, lightning network will allow instant transactions, lower fees and scalability. Do you think it is the reason of this latest spike?

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LeGaulois
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December 07, 2017, 11:10:33 AM
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It could be somehow, mixed with other things. But I don't think so much this has something to do with it because the price is going crazy for several days already and most of the people are not aware of the Lightning network tested. It's much more about something else

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December 07, 2017, 12:03:31 PM
 #3

one thing and another, there is so much pump news for BTC nowadays
i will take a good look first about this technology, because it said that cross-implementation test on Bitcoin mainnet
faster transaction is good, so no need for another hardfork just to make faster and bigger transaction

and also i found something that also discuss about it
Tokyo and Chicago Financial Exchanges Planning Bitcoin Futures Launch
https://www.coindesk.com/tokyo-financial-exchange-planning-bitcoin-futures-launch/
https://www.cnbc.com/2017/12/04/cboe-announces-it-will-launch-bitcoin-futures-on-dec-10.html?__source=Facebook%7Ccrypto

and many hard forks


Bitcoin Platinum(12/12)
Super Bitcoin Hardfork(12/17)
Lightning Bitcoin Hard Fork (12/23)
"bitcoin god"(GOD)  (12/25)
Bitcoin Cash Plus (1/2)

I guess bitcoin will go at least $15000 before 2018
is this the same with you talking about?

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Don Pedro Dinero
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December 07, 2017, 04:24:36 PM
 #4

It could be somehow, mixed with other things. But I don't think so much this has something to do with it because the price is going crazy for several days already and most of the people are not aware of the Lightning network tested. It's much more about something else

Yes, the price has been crazy lately, but it has speeded up in the last 24 hours or so. Anyway, I agree that it can be one of the reasons, mixed with other.

one thing and another, there is so much pump news for BTC nowadays
i will take a good look first about this technology, because it said that cross-implementation test on Bitcoin mainnet
faster transaction is good, so no need for another hardfork just to make faster and bigger transaction

and also i found something that also discuss about it
Tokyo and Chicago Financial Exchanges Planning Bitcoin Futures Launch
https://www.coindesk.com/tokyo-financial-exchange-planning-bitcoin-futures-launch/
https://www.cnbc.com/2017/12/04/cboe-announces-it-will-launch-bitcoin-futures-on-dec-10.html?__source=Facebook%7Ccrypto

and many hard forks

Bitcoin Platinum(12/12)
Super Bitcoin Hardfork(12/17)
Lightning Bitcoin Hard Fork (12/23)
"bitcoin god"(GOD)  (12/25)
Bitcoin Cash Plus (1/2)

I guess bitcoin will go at least $15000 before 2018
is this the same with you talking about?

No. I wasn’t talking about a fork. Actually, I knew there were some more forks upcoming, but I didn’t know there was one called lightning network. As far as I know, lightning network, at least what was tested yesterday, is not a fork, rather adding another layer to the original chain.

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December 07, 2017, 06:58:06 PM
 #5

Lightning network was successfully tested yesterday:

https://medium.com/@lightning_network/lightning-protocol-1-0-compatibility-achieved-f9d22b7b19c4

Bitcoin has risen by 20% in the last 24 hours and it has as well regained dominance in the market, being now 63,7%. Supposedly, lightning network will allow instant transactions, lower fees and scalability. Do you think it is the reason of this latest spike?

I agree, this is what makes bitcoin demand rises in the last 24 hours.
this is a big step improvement, a source said that with the implementation of this network lighting can solve its special problems in the delivery of instant money with small value payment.
we all know that delivery of payment with a very small value such as 100-900 satoshi usually will be rejected by some web wallet service also the exchanges, this is certainly because not worth with cost to be incurred.

warrior333
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December 07, 2017, 07:20:33 PM
 #6

Maybe this is the answer kernel developer to blackmail the miners? I hope that such mechanisms will be invented in the shortest possible time. This will make bitcoin accessible for use in trade. I think that bitcoin price will decline as it will leave the speculative capital. But it doesn't scare me. I have a dream that bitcoin was currency.

rodalutor
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December 07, 2017, 07:24:33 PM
 #7

Lightning network was successfully tested yesterday:

https://medium.com/@lightning_network/lightning-protocol-1-0-compatibility-achieved-f9d22b7b19c4

Bitcoin has risen by 20% in the last 24 hours and it has as well regained dominance in the market, being now 63,7%. Supposedly, lightning network will allow instant transactions, lower fees and scalability. Do you think it is the reason of this latest spike?


I think that it probably has an effect on the price but not enough to see the increases of today and yesterday. I think there are bigger things at play here, a surge of money from futures being announced being the main one.

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December 07, 2017, 07:35:08 PM
 #8

Lightning network was successfully tested yesterday:

https://medium.com/@lightning_network/lightning-protocol-1-0-compatibility-achieved-f9d22b7b19c4

Bitcoin has risen by 20% in the last 24 hours and it has as well regained dominance in the market, being now 63,7%. Supposedly, lightning network will allow instant transactions, lower fees and scalability. Do you think it is the reason of this latest spike?


This is obviously huge news for anyone that has been following this, now for years of expectations. It has been a long road. I remember how much of a nightmare it was to get segwit in, but now that we got segwit, lightning network can become a reality and normal businesses can finally use Bitcoin.

It's unfortunately how the same day that Lightning Network 1.0 was released, Steam announced how confirmation times and high fees made the business non-viable and had to drop Bitcoin support, but now im sure that they will accept payments again through LN channels.

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Basmic
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December 07, 2017, 07:49:59 PM
 #9

It seems to me that this news could have an impact on the price of bitcoin but not as big as we see today. Probably a greater impact on price is the upcoming appearance of futures transactions. Even if conditions will be created for trading bitcoin is not widely used because users now prefer to hold their coins.

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Kronos21
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December 07, 2017, 08:25:35 PM
 #10

I don't know how did this testing on the price of bitcoin but this is good news. This makes us one step closer to that bitcoin will return to its primary purpose. Gradually, he will become a full-fledged currency. This will make bitcoin more competitive in the cryptocurrency market.

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December 07, 2017, 08:35:47 PM
 #11

Partly but I'm more inclined to think that this is just another hyping up session before the 'big thing' goes live in Dec. 18. It is also possible that everyone is setting the mood up for newcomers and lead them into thinking that bitcoin is the real deal. It already happened before and will not be surprised if it is happening again. The successful test run of the lightning network is a giant leap towards further development but it isn't sufficient enough to boost the price with this rate.

BillyBobZorton
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December 07, 2017, 11:21:24 PM
 #12

Partly but I'm more inclined to think that this is just another hyping up session before the 'big thing' goes live in Dec. 18. It is also possible that everyone is setting the mood up for newcomers and lead them into thinking that bitcoin is the real deal. It already happened before and will not be surprised if it is happening again. The successful test run of the lightning network is a giant leap towards further development but it isn't sufficient enough to boost the price with this rate.

How so? the lightning network was the missing piece for mainstream adoption, and it has been proven to work on mainnet. Haters can no longer cry about it being "vaporware" while shilling their shitcoins as the next "bitcoin that scales".

The idiots over at Steam better realize bitcoin is now ready for mainstream usage and start accepting payments again thought LN as soon as LN wallets popularize or they will be left behind.

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