[2017-12-20] Bitcoin Lightning Network Is Coming: Test a Transaction Now

[Jgilpulg]

As demand for Bitcoin continues to grow, transaction costs and time delays are bound to get worse. However, many Bitcoin enthusiasts and experts are excited about Bitcoin Lightning Network.

https://bitcoinist.com/bitcoin-lightning-network-is-coming-test-a-transaction-now/

[zakalwe]

Finally! Everyone who supports Bitcoin in the ongoing war against BCC have been waiting for. Lightening Network will solve all the problems that caused the rise of fraud-coin BCC and decline of The Bitcoin in last few days. This will prove that BCC has nothing new or revolutionizing to offer and BCC will become just another altcoin again.
What I want to ask is how is LN going to be implemented and when. Do we need another fork or LN can be added on top of Bitcoin blockchain so we don't need to change the rules?

[BitHodler]

Oh boy, this is exactly what we need. Bitcoin's rapid growth has more than ever put a heavy load of pressure on Bitcoin's network, which is something that for new users may be a bit too much to swallow.

If you want to send like $50 worth of Bitcoin, only $40 will wnd up reaching its destination due to the fees being like $10 on average. It might scare off people, which would be a damn shame.

I however don't hope that lightning network gets rushed due to this. I prefer to wait a longer while and have it be solid and thoroughly tested through, than seeing it come online with potentially severe bugs and whatnot.

[btcton]

Finally! Everyone who supports Bitcoin in the ongoing war against BCC have been waiting for. Lightening Network will solve all the problems that caused the rise of fraud-coin BCC and decline of The Bitcoin in last few days. This will prove that BCC has nothing new or revolutionizing to offer and BCC will become just another altcoin again.
What I want to ask is how is LN going to be implemented and when. Do we need another fork or LN can be added on top of Bitcoin blockchain so we don't need to change the rules?

I don't see why this should be considered a "war" with Bitcoin Cash. Even though it originated from the original Bitcoin blockchain, it should still be considered an alt coin. The only ones who want to call this a war are the Bitcoin Cash supporters who see Bitcoin Cash as rightful to the title of just "Bitcoin", which it is not, since it helps promote this conflict that gets them free promotion and a better chance at popularizing the name. As for the Lightning Network, just be patient. It needs to be as bug-free as possible when it comes out.

Oh boy, this is exactly what we need. Bitcoin's rapid growth has more than ever put a heavy load of pressure on Bitcoin's network, which is something that for new users may be a bit too much to swallow.

If you want to send like $50 worth of Bitcoin, only $40 will wnd up reaching its destination due to the fees being like $10 on average. It might scare off people, which would be a damn shame.

I however don't hope that lightning network gets rushed due to this. I prefer to wait a longer while and have it be solid and thoroughly tested through, than seeing it come online with potentially severe bugs and whatnot.

I completely agree in everything you said. The developers have stated that they will not rush out the Lightning Network and will perform extensive testing before putting it on the main net, so there should not be much to worry about. It is all about being patient.

[Egoitss]

When there is plan to implement this?

[Variogam]

Do we need another fork or LN can be added on top of Bitcoin blockchain so we don't need to change the rules?

No change needed, all you need to do is pay hefty Bitcoin transaction fee when opening and closing LN channel. You can imagine it as paying big fee whenever you want to load your debit card with a ballance to be able to use it for fast and cheap microtransactions. The point is, most people worldwide cannot afford such big Bitcoin transaction fees to open and closing LN channels, but fortunatelly we have Bitcoin Cash which is aiming to solve the scalling issue in different way which I think going to work better for normal people, thats why I dont care about big Bitcoin transaction fees anymore because I dont use Bitcoin anymore (just holding Bitcoin for price speculation).

[Lancusters]

Do we need another fork or LN can be added on top of Bitcoin blockchain so we don't need to change the rules?

No change needed, all you need to do is pay hefty Bitcoin transaction fee when opening and closing LN channel. You can imagine it as paying big fee whenever you want to load your debit card with a ballance to be able to use it for fast and cheap microtransactions. The point is, most people worldwide cannot afford such big Bitcoin transaction fees to open and closing LN channels, but fortunatelly we have Bitcoin Cash which is aiming to solve the scalling issue in different way which I think going to work better for normal people, thats why I dont care about big Bitcoin transaction fees anymore because I dont use Bitcoin anymore (just holding Bitcoin for price speculation).

I don't trust bch. It seems to me that the attempt to drag the blanket over the collapse for those who invest in bch. I don't know where to watch the developers. They can't solve this problem? Why splinter bitcoin bch maybe? Blackmail miners can only be overcome by economic means. A large number of transactions can increase income. Will always be willing miners if it is profitable.

[Kemarit]

Hmmm. Been looking at this solution for the last couple of months. And I heard a lot of noise about it last couple of days that I think that this is the long awaited solutions to the problems that we are currently facing. I think its been on the testing phase for some time right now and could be deployed anytime soon.

Finally! Everyone who supports Bitcoin in the ongoing war against BCC have been waiting for. Lightening Network will solve all the problems that caused the rise of fraud-coin BCC and decline of The Bitcoin in last few days. This will prove that BCC has nothing new or revolutionizing to offer and BCC will become just another altcoin again.
What I want to ask is how is LN going to be implemented and when. Do we need another fork or LN can be added on top of Bitcoin blockchain so we don't need to change the rules?

The way I understand, its neither a hard or soft fork. What LN intends to do is just add another layer on top of bitcoin network, so there's no rules to be change here. (correct me if I'm wrong), so there's still some kind of security because LN will still uses blockchain. It has nothing to do with Bitcoin Cash though, this whole scaling debate has been ongoing for years now and its just right to implement it, isolated of the so called "Bitcoin vs Bitcoin Cash" war.

[darkangel11]

Finally! Everyone who supports Bitcoin in the ongoing war against BCC have been waiting for. Lightening Network will solve all the problems that caused the rise of fraud-coin BCC and decline of The Bitcoin in last few days. This will prove that BCC has nothing new or revolutionizing to offer and BCC will become just another altcoin again.
What I want to ask is how is LN going to be implemented and when. Do we need another fork or LN can be added on top of Bitcoin blockchain so we don't need to change the rules?

I hate that BCC shitcoin with its stuck up community lead by that buffoon Ver. People who are buying into his promises and PR talk must be blind. I'm ready to stay with BTC all the way, no matter what the price of BCC is and will be. All that I want is for the transactions to become fast and cheap again, just like they were a year ago. When this problem gets resolved there's no stopping BTC.

[SirWilliam]

Finally! Everyone who supports Bitcoin in the ongoing war against BCC have been waiting for. Lightening Network will solve all the problems that caused the rise of fraud-coin BCC and decline of The Bitcoin in last few days. This will prove that BCC has nothing new or revolutionizing to offer and BCC will become just another altcoin again.
What I want to ask is how is LN going to be implemented and when. Do we need another fork or LN can be added on top of Bitcoin blockchain so we don't need to change the rules?

I hate that BCC shitcoin with its stuck up community lead by that buffoon Ver. People who are buying into his promises and PR talk must be blind. I'm ready to stay with BTC all the way, no matter what the price of BCC is and will be. All that I want is for the transactions to become fast and cheap again, just like they were a year ago. When this problem gets resolved there's no stopping BTC.

Exactly. And it will happen. Lightning will bring it and the real BTC will become the most important means of exchange in the world. A store of value, a global, instant, digital currency and the asset with the largest market capitalization in history.

[Guardian.P]

I also really hope for Lightning. Because in the form of what is now bitcoin, he does not suit me. Recently I was forced to make a transaction on a sum of $ 50 and the commission for the transaction was $ 14. And to make small transactions to be paid in a cafe is not so profitable

[CryptoBry]

Finally! Everyone who supports Bitcoin in the ongoing war against BCC have been waiting for. Lightening Network will solve all the problems that caused the rise of fraud-coin BCC and decline of The Bitcoin in last few days. This will prove that BCC has nothing new or revolutionizing to offer and BCC will become just another altcoin again.
What I want to ask is how is LN going to be implemented and when. Do we need another fork or LN can be added on top of Bitcoin blockchain so we don't need to change the rules?

Millions of Bitcoin holders have been waiting for this for too long now and it is really high time that we should those who have already left Bitcoin who is the real boss here! Now, let's just hope that things will really get better with Lightning Network and that this can be the appropriate and adequate answer we are all looking for. Hope that with its full network implementation Bitcoin can reach its full potential without the nagging scalability and ridiculous transaction cost putting it down.

[Lucius]

I just tried LN on Starblocks and it is working perfectly,this is something what will change transaction speed almost to perfection.I hope that will become available as soon as possible because the current situation looks pretty bad in terms of transaction speed and very high fees.

Since three independent teams are working on this I think we will not wait too long to see LN in full action.I think this will be a big event for BTC,and that the situation we have today becomes just a bad episode from the past.

[Domenc]

This is a great news for crypto users, as high transaction fees is a serious issue at the current time. Many investors are backing off due to its high fees issues and loaded transaction pool. It is problem that needs to rectified as soon as possible, but what will be this lighting network and how will it work are some of the crucial question that can only be answered when it is released. One can only hope for better solution in the coming days, otherwise if the problem is not rectified people will eventually lose faith in Bitcoin.

[zarados]

Hopefully, this is not just a discourse because the slow confirmation process and high transaction fee are one of the big walls that block bitcoin can be adopted as a means of daily payment and tools to smooth business.

Just imagine, to send bitcoin, you currently need to pay a transaction fee for about $12. And even then, it still takes hours to get the status confirmed. This is a disaster for people who actually use it as a means of transactions and those who always send a small amount of Bitcoin. So, it's a fresh air that developers will overcome this.

[CyberKuro]

This is a fresh air for bitcoin users, but nothing serious as long it's not implemented yet.
Another problem is whether all the platform in bitcoin community willing to use the lightning network, it's a good way to solve current problems though.
Look at Segwit implementation, even though it has been activated for months, but most platforms and exchanges not using it which makes transactions stuck on mempool.

[Irvinn]

So far, we are really pinning all hopes on the implementation of the lightning project in the bitcoat project, which promises us exactly the improvements that bitcoyne and his users need so much. If the network of lightning does give the expected and advertised results, then bitkoyn again can deservedly enjoy its popularity and grow in price.
     Recently, without these improvements, a rather critical situation has developed with respect to bitcoin, and many in this regard have begun to give priority to bitcoin in cash, which has risen strongly in value. So the fate of the original bitcoin, or rather its popularity, largely depends on how successful the lightning network is embedded into it.

[veleten]

it is all nice n dandy,Lightning network will remove so much strain from the network
the only problem...it is going to be Segwit all over again
the implementation and actual usage are very diferent from declarations of support
how many major wallet providers support Segwit?and how many wallets use Segwit? look it up and be amazed
with LN it is going to be months before it is actually usable and used