The great Lightning scam

[Thekool1s]

Take all the things said by this(1legalco) shill by a grain of salt.. they are being paid for this shit..  Lightning is the solution that's why they hate it.. Full steam ahead for Lightning network.. The ultimate Altcoin killer!! Ignore list welcome your new member...

[Davinus]

Well BCrash is even worst, because bigger Block sizes {to scale to VISA & PayPal} would centralize Bitcoin even more. Just

But still, there are a lot of people who think that Bcash is the real revolution in here and that this one will be the "best" coin that will ever exist because it can be compared to LN! Oh yes.. And they do not realize how the LN works..

[1legalco]

Coinbase is a USA based exchange I know lots of people in Europe all of them with Visa and MasterCard connected to Bitcoin canceled

I'm surprised coinbase still operating their card

Also multiple articles say bitpay visa canceled

Never made sense to me tying a crypto card to a fiat card

Just sell crypto through exchange then exit into an account with a card tied to it

Crypto credit cards just never seemed right

Well the system is already in place to accept payments with Visa, so it's really smart to leverage that, and be able to spend your money where you want. There's no limits that way. You don't need to find places that accept BTC, and it's strategically a good deal to get the "system" to accept Crypto, cause Visa is still getting their 3% from merchants for accepting it, banks still get their ATM fee when you withdraw, so big business doesn't feel as threatened by a major adoption. Yeah, there's a little politics at play, but what do you expect when big moneys involved? Bitpay has not been cancelled, I used it yesterday, and they only sent mine to me like the week before Christmas, and I have a friend who is waiting on his card which was sent out Monday, so those were rumors you heard about it being cancelled.

Are you in Europe?

Those are not rumors, they're major media in Europe.

Now the point of BTC white paper was to operate outside banks.

You leave banks and fiat out of it crypto works.

However, most people have nothing of value to trade.

That's why a merchant based crypto network works. Every merchant has what some consumers want.

So a merchant network that takes crypto from a smartphone needs no terminals, no banks no accounts with banks.

So merchants preferring a crypto will make that top crypto in time.

You can think crypto to visa a good idea, I don't. I think a stable merchant crypto will replace everything.

But do you want to wait for that or do you want to spend your money right now? You don't have to talk merchants into anything, they already have pinpads. I imagine the way it's going to work out EVENTUALLY will be like when you see a pinpad that has apple pay, android pay,  or paypal, it'll be like that but something to the effect of "Pay here with Coinbase" or Coinbasepay, or whatever they decide to call it. (There's your stable merchant crypto, we just need to make it to that point) THEN the Visa cards will start to phase out somewhat, but it'll be a long time before that's complete. Remember, there's still people out there with Diner's club cards.

Visa adoption is not the solution it's the problem.
Now you do realize most of the world has no Visa, most of the world is too poor to qualify.
Yet most of those poor now have a smart phone
They use a village hub to use the net

The crypto coin that taps into that huge mass of humanity will rule the world

So no transaction fees

Ability to reach all humans

Stable currency

I've seen one project targeting all those needs

Bitcoin failed due to blockchain it's not needed

You create a digital. Currency without the block

You base it on a solid currency

No speculator exchanges

You have something that merchants will adopt to reach that untapped pool of poor humans who can consume digital goods, music, films and books

To do billions of transactions you cannot use block chain

[SH777]

I agree Lightning is a scam off chain bullshit.BTW BCH is doing good right now they are planning to scale terabyte block which can handle all the transaction and the solution forever.source:https://news.bitcoin.com/coingeek-funds-a-terabyte-block-initiative-for-bitcoin-cash-with-3-6m-euro/  and one more thing you don't need to run full node wallet of the blockchain to transact BCH the miners are the nodes and making the security of the blockchain strong no need to buy hardisk you can just download exodus or other wallets that support bch.

[dinofelis]

The reason Bitcoin will never scale is the public ledger block chain can never handle all the billions and trillions of transactions it would need to record.

Bitcoin doesn't need to handle billions and trillions of transactions.  It is a speculative asset, not a currency.  It is like your Apple options.  Not like your dollars or Euros.  It's a betting token in a greater fool game, not something that stores value.  It needs of course a sufficiently high transaction volume when the market gets crazy, but you shouldn't exaggerate it: it is not a currency and never will be.  Because it doesn't have a value stabilisation mechanism.  it is highly volatile.  The high point of bitcoin-as-a-currency was Silk Road.  That's the past.  The future is bitcoin derivatives, ETF, futures and the like.   This is finance.  Not money.

[Ozero]

I do not think that the network of lightning is a fraud or definitely something bad for bitcoin. The network of lightning does not really solve all the problems with bitcoin transactions, but in part it can solve these problems. Due to the fact that it has low security during transactions, the lightning network can be used for transactions of small payments that would not be reflected in the logs and did not clog them. For transactions with large payments, you need to use other tools, such as SegWit or something else. However, in this condition bitcoin can not remain.

[1legalco]

The reason Bitcoin will never scale is the public ledger block chain can never handle all the billions and trillions of transactions it would need to record.

Bitcoin doesn't need to handle billions and trillions of transactions.  It is a speculative asset, not a currency.  It is like your Apple options.  Not like your dollars or Euros.  It's a betting token in a greater fool game, not something that stores value.  It needs of course a sufficiently high transaction volume when the market gets crazy, but you shouldn't exaggerate it: it is not a currency and never will be.  Because it doesn't have a value stabilisation mechanism.  it is highly volatile.  The high point of bitcoin-as-a-currency was Silk Road.  That's the past.  The future is bitcoin derivatives, ETF, futures and the like.   This is finance.  Not money.

Agreed the BTC is our future currency is bullshit
Agreed it's a fools game

Lucky this fool got in at $5 bucks

Lol

[Bob-Bit]

People seem vested for there to be a problem. Transaction fees are high. Services need to come out that consolidate transactions. Coinbase already does this. Now if we add 1 or 2 new players to the game, we'll be fine. It wouldn't be a big deal that the transaction fee is say $40 if transactions were being consolidated, like 2500 transactions consolidated down to one. One transaction per minute. I like to think of solutions, not problems.

[pitiflin]

Why is nobody discussing about it? Well this forum turned out to be a junkyard for shitposters to spam and random repetitive useless topics are what is created everyday, so that explains why.
Are you against bitcoin or are you against blockchain or are you against lightning network? You say different things in different posts.
If you hate bitcoin, deal with it, millions of people still do like it. If you're against blockchain I don't why so but blockchain is one of the best tech upgrade that Satoshi has come up with so that a lot of shit can stop happening. It's not happening much for now but it can happen in the future with some changes. If you are against lightning network, we'll just know this that it will always remain an altcoin, bitcoin is what people will give more priority to. And remember that it is a fork of bitcoin and hence yet another forged version of bitcoin. People are going to get rich again.

[Nellayar]

Lightning network can ease the problem to the high transaction fees and slow processing of bitcoin. We can't make any accusation that lightning network is a scam. It helps to boost again the name of bitcoin though we all know that lightning network can be more centralised than usual.

[1legalco]

Why is nobody discussing about it? Well this forum turned out to be a junkyard for shitposters to spam and random repetitive useless topics are what is created everyday, so that explains why.
Are you against bitcoin or are you against blockchain or are you against lightning network? You say different things in different posts.
If you hate bitcoin, deal with it, millions of people still do like it. If you're against blockchain I don't why so but blockchain is one of the best tech upgrade that Satoshi has come up with so that a lot of shit can stop happening. It's not happening much for now but it can happen in the future with some changes. If you are against lightning network, we'll just know this that it will always remain an altcoin, bitcoin is what people will give more priority to. And remember that it is a fork of bitcoin and hence yet another forged version of bitcoin. People are going to get rich again.

Am I against lightning? It solves nothing and the channel transactions are not Bitcoin

Am I against blockchain? No for small niche uses it's a solid idea. For a global currency it's a joke, no block chain can do billions of transactions a day.

Am I against Bitcoin? I took it at $5.00 for what it was a shitcoin. Over the years I've taken it in many businesses. Today we will not accept it. It has no value to us today and it will soon be $5k.

Then the last pump starts the shitcoin might hit 50k it could hit 500k

But it's still a shit coin

I've been in lots of coins most with proven niche uses that have grown exponentially recently, so now I'm out of most of them after 100x or 10k% increase what do you want?

So I'm pro crypto but almost everything is overvalued now.

Plus none of it can scale to global currency level.

[1legalco]

Note how the mods buried this by moving it to alt coin

Lol

Another reason to call BTC SHITcoin

[Allincode]

Lightning network is not an excellent solution too. I really would like to see Bitcoin overcoming technical issues, but that sounds impossible at this moment.
And with every move you make in development you need to watch out for investors opinion. That is another weight to a real problem, technical one.

[Bob-Bit]

Note how the mods buried this by moving it to alt coin

Lol

Another reason to call BTC SHITcoin

Well people started talking about coins other then Bitcoin, so what do you expect? You seem disappointed that people might miss reading your negative views. If you don't like Bitcoin it shouldn't matter to you. I don't like Papa Johns. So I don't go there. I could care less about finding foodie forums and talking bad about the place. It really doesn't matter to me. I just choose someplace else to get my pizza. If other people like it, that's great for them. Me, I'm more of a NY style pizza fan, so that's what I buy. I suggest you go invest in some Bcash if it makes you happy.

[lamadu3]

I hope that Lightning would be a way to upgrade bitcoin. I do not have enough information to say if it fail or not. Let's hope for the best. Maybe it will be succesfull anyway.

[LiberateDPigeon]

I hope that Lightning would be a way to upgrade bitcoin. I do not have enough information to say if it fail or not. Let's hope for the best. Maybe it will be succesfull anyway.

I think a lot of people call it a 'band aid solution' since the lightning network actually does not utilize the bitcoin blockchain in confirming transactions.