Great News For Bitcoin! Lightening Network First Payment Was Successful!

[Anti-Cen]

Oh i see, LN isn't implemented yet in other wallet? I want to send 10k satoshi with 0 fee
Good news, of course

Yes months away from getting LN up and running and they had years to see this coming
so one must assume they wanted things to pan out like this and then we will have to wait
for wallets to work with LN

Too little, too late and the market is speaking but as a quick fix they could try a simple line of code for now

Public static money MaxFee=1.50 // Stop ripping us off miners and leave because not enough cream for 20,000 of you on this cake

[Anti-Cen]

This is the news that everyone is waiting for, bitcoin users already facing this problem for a long time and finally there is an solution, hopefully this can be implemented soon and people can start to used it, I believe this things could make bitcoin dominating againand make people want to use bitcoin for transaction

You forget that rip-off tx fees has lead to a break down in trust so what happens when the LN hubs are exposed
for what they are as banks if we stop playing with words and they conspire with miners to stitch us up even more.

Things are not happy in Crypto-land and we did not change the rules.

[HeRetiK]

That's positive news, but still not enough to cheer the market back up. I don't want to sound negative but even when Lightening Network is fully implemented, it'll be too late for bitcoin to win all the investors who already moved to support new cryptos. New cryptos are implementing features that are missing from bitcoin such as anonymity and private transactions. Bitcoin is already outdated. I'm not saying that bitcoin will die. I'm sure bitcoin will stay forever however, it'll slow down gradually until another coin takes its place as the main crypto-currency.

I think this is an overestimation of how quickly people are willing to switch from one technology or investment to another. If LN fails to deliver or takes another 2-3 years for deployment, then we're likely to see a major shift in userbase. But not after 1 year of scaling issues after a track record of running flawlessly for 9 years. Additionally few people seem to care about true anonymity, that is assuming the current anonymity approaches are viable and solid in the first place.

[...]

For example, can you conceive of a layer on top of bitcoin in which fully anonymous transactions were possible? There'd be a point of exit from the blockchain and a point of entry back to it, and that's all the info that would be available.

[...]

Actually that's pretty much what LN is doing. LN transactions are only visible to the involved parties, the nodes inbetween know nothing about the transactions they route. I'm not sure whether LN can provide full anonymity but it definitely will improve privacy.

[olubams]

That's positive news, but still not enough to cheer the market back up. I don't want to sound negative but even when Lightening Network is fully implemented, it'll be too late for bitcoin to win all the investors who already moved to support new cryptos. New cryptos are implementing features that are missing from bitcoin such as anonymity and private transactions. Bitcoin is already outdated. I'm not saying that bitcoin will die. I'm sure bitcoin will stay forever however, it'll slow down gradually until another coin takes its place as the main crypto-currency.

I think this is an overestimation of how quickly people are willing to switch from one technology or investment to another. If LN fails to deliver or takes another 2-3 years for deployment, then we're likely to see a major shift in userbase. But not after 1 year of scaling issues after a track record of running flawlessly for 9 years. Additionally few people seem to care about true anonymity, that is assuming the current anonymity approaches are viable and solid in the first place.

[...]

For example, can you conceive of a layer on top of bitcoin in which fully anonymous transactions were possible? There'd be a point of exit from the blockchain and a point of entry back to it, and that's all the info that would be available.

[...]

Actually that's pretty much what LN is doing. LN transactions are only visible to the involved parties, the nodes inbetween know nothing about the transactions they route. I'm not sure whether LN can provide full anonymity but it definitely will improve privacy.

When I read the news I was equally happy and waiting it should be something not too difficult to be rolled out to many or maybe some explanations is needed on it. The way this upgrade are done, I expect that it should be updated into the system automatically just like when you update an app on google play store rather than all this process that you are trying to explain. If this is anything to go by, it then means that the time to enjoy the benefit of this laudable achievement is not close by.

[Turkish88]

I hope this news not a fake, time to buy bitcoins !

[athanz88]

Sup guys!

I think this is a very important piece of info as we all kinda doomed bitcoin, but this might be a breakthrough.

The lightening network is a technology basically adds a layer of tech that can be a scaling solution for bitcoin, its supposed to prevent the high fees and slow transactions, with the same level of security.

A few days ago the first payment using the lightening network was successful, it was made to pay a phone bill.

The payment was INSTANT, and the fees were ZERO.

Here's the full article - https://www.coindesk.com/payment-provider-bitrefill-runs-successful-lightning-transaction-test/


Bottom line - the lightening network could solve most of the problems with bitcoin - if it does, its a huge step forward in terms of bitcoins scalability, meaning itll be easier to get mass adoption and use BTC for day-to-day transactions, and generally will be great news for the whole crypto section.

I have read this positive news from my google apps.
Indeed this is a great technology to eliminate all the issues of bitcoin that we have right now. High transfer fees, slow transaction, are now really a big issues for bitcoin as people used it to against and make bitcoin looks bad. And then comes this technology.
I hope this LN can be implemented as fast as it can on the bitcoin network. But with this implementation, i guess there will be new problem we may face, like maybe wallets will make a fixed fees to do transaction, and maybe like lower earnings for miner because we dont need to pay for the transaction again. I dont know. I hope it can solve the problem.

[BitcoinHodler]

Oh i see, LN isn't implemented yet in other wallet? I want to send 10k satoshi with 0 fee
Good news, of course

Yes months away from getting LN up and running and they had years to see this coming so one must assume they wanted things to pan out like this and then we will have to wait for wallets to work with LN

Too little, too late and the market is speaking but as a quick fix they could try a simple line of code for now

LN may have not needed SegWit but everything that it is offering including the paramount security of it is based on SegWit. and we got it less than 6 months ago. you can not expect full scale adoption of something like that in less than 6 months.

Public static money MaxFee=1.50 // Stop ripping us off miners and leave because not enough cream for 20,000 of you on this cake

feel free to fork bitcoin and change this rule (this can be considered consensus rule) and see how many will follow your chain. if you can get enough people to switch then your chain will be bitcoin.

[dawoodkhan97]

I believe this is a great step towards solving the scalability issues
which we've been having for quite some time now.

It still has to be tested thoroughly before implementing it but if
it does process instant and low fee transactions then nothing would
stop bitcoin and may even have mass adoption as I read that using
the lighting network, it can process millions of transactions/second.
This is huge! Even Visa can only process 50k transactions at max.

[hv_]

Cross-chain atomic swaps will help whatever cryptocurrency becomes the predominate one. Not just bitcoin. Joseph Poon and Thaddeus Dryja are going to become famously wealthy regardless of which crypto wins. Congrats!

Why should anybody use this if Bitcoin (Cash) will solve this in a single cheap cash coin?

[krisnt80]

Finally some good new, but i were talking with some friends and they told me that this might be a solution if all implement those, but we talked as well about do transaction offchain wich can cause some damage or issue, im not pretty sure how it works, but knowing it will reduce the insane fees its already a good new to bitcoin.

[Man21]

Its good information. Good news mate.
One thing that i still not understand, how it can make bitcoin more faster in transaction and zero fee? If zero fee i think its not possible since the miners will not do our transaction. If you can give me the detail maybe i will more understand. But at least this is good news.

[HeRetiK]

Cross-chain atomic swaps will help whatever cryptocurrency becomes the predominate one. Not just bitcoin. Joseph Poon and Thaddeus Dryja are going to become famously wealthy regardless of which crypto wins. Congrats!

Why should anybody use this if Bitcoin (Cash) will solve this in a single cheap cash coin?

There will always be demand for alts, regardless of which Bitcoin hardfork becomes the dominant one. And as long as there's a demand for alts, there will be a use case for cross-chain atomic swaps.

Worst case it's just people swapping speculative assets around, best case it enables decentralized purchasing of utility tokens, whichever they may be in the future.

[CodyAlfaridzi]

Yeah, I have seen the video too. It was literally lightning fast! Can't wait for it to be fully developed and got integrated in a user-friendly software. Guess it'll take more time eh? I don't think it'll be available until 2020. An implementation like this took a long time before officially released to major users. Even Segwit took years to develop and even after implemented a lot of users are still not using it.

[sirkings0003]

Sup guys!

I think this is a very important piece of info as we all kinda doomed bitcoin, but this might be a breakthrough.

The lightening network is a technology basically adds a layer of tech that can be a scaling solution for bitcoin, its supposed to prevent the high fees and slow transactions, with the same level of security.

A few days ago the first payment using the lightening network was successful, it was made to pay a phone bill.

The payment was INSTANT, and the fees were ZERO.

Here's the full article - https://www.coindesk.com/payment-provider-bitrefill-runs-successful-lightning-transaction-test/


Bottom line - the lightening network could solve most of the problems with bitcoin - if it does, its a huge step forward in terms of bitcoins scalability, meaning itll be easier to get mass adoption and use BTC for day-to-day transactions, and generally will be great news for the whole crypto section.

Woww. If this is can be applied to the main bitcoin framework to improve the scaling issues presently being experienced in bitcoin, then it would be a very big and cheering news for the community.

[QuestionAuthority]

Cross-chain atomic swaps will help whatever cryptocurrency becomes the predominate one. Not just bitcoin. Joseph Poon and Thaddeus Dryja are going to become famously wealthy regardless of which crypto wins. Congrats!

Why should anybody use this if Bitcoin (Cash) will solve this in a single cheap cash coin?

Do you know that Lightning Network and Ripple were dating? They fucked and made a gay son named Lightning Ripple McQueen.




The above is more likely than BCH becoming anything more than another one of Roger Ver’s perverted attempts to control bitcoin. Anybody that supports bcash is clueless.

[Woodies]

To da mooon 

[adiksau0414]

Let's cheers to that. Thats a positive news for all of us. We might experiencing sad moment because of bitcoin plunging. We still have this news that will benefit all of us. As of the bitcoin increase in these recent year, the transaction fee is really a shock (not advisable to withdraw or transfer small amount of bitcoin, the fee is much higher that what you supposed to withdraw). As of now, these news is one of the positive vibes i have in this 2018. (celebrating).

[hv_]

Cross-chain atomic swaps will help whatever cryptocurrency becomes the predominate one. Not just bitcoin. Joseph Poon and Thaddeus Dryja are going to become famously wealthy regardless of which crypto wins. Congrats!

Why should anybody use this if Bitcoin (Cash) will solve this in a single cheap cash coin?

Do you know that Lightning Network and Ripple were dating? They fucked and made a gay son named Lightning Ripple McQueen.




The above is more likely than BCH becoming anything more than another one of Roger Ver’s perverted attempts to control bitcoin. Anybody that supports bcash is clueless.

If you'd ve said Jihan and CSW, I could not say much, but Roger?

Anyway, crypto makes me lookin clueless every day.

 

[mroth7684]

zero fee. this is the most I like when you ripple. fee very small per transaction. like you dont care about it. hope bitcoin can do that

[Anti-Cen]

But not after 1 year of scaling issues after a track record of running flawlessly for 9 years.

Well that's no true at all and BTC does not scale and they did not need to wait for the wheels
to start falling off it before rushing to fix it.

it said "Near virtually free transactions" on the box so it should have had a maximum
amount of fees that would be charged and it is not decentralized when ten big miners
account for 90% of all transactions.

We can debate if Hubs in LN are really banks but your above comment is not
worth debating IMHO