This is just the start and most people doesn't see this improvement that bitcoin is getting. Cheaper fees and faster transactions and sooner or later we're going to be able to buy almost everything with bitcoin through Lightning Network.
It's just a matter of time.
whats not said by the OP's link is that the 150 orders taken is
based on the fact that 1500 orders tried, but only 150 succeeded, with fold saying the issue was due to lightning. 10% success rate..
Can you post the link to that information, or do you expect us to accept that to be real because it's you?
imagine if bitcoin (not LN 12 decimal pegged payments) but the actual bitcoin network(8 decimal tx's) only had 10% success rate
They are actual Bitcoins held in 2 for 2 multi-sig wallets. There are no "pegs".
Plus I believe Lightning's 12 decimal places can increase Bitcoin's utility.
as for a place for learning, i used to spoonfeed people until your buddies come up with their rekt campaigns and social drama to just say "wrong coz franky".. so i then just said "do your own research if you dont wanna learn what i learned.
and now its back to getting spoonfed.
seriously. i know u love wiki or only the first search result of google. but try upping your game.
if you really dont want to read what i write. and think its just fud. atleast DO SOME RESEARCH instead of just proclaiming "wrong coz franky".. as that just maks you sound as bad as doomand and your buddies who lack the info
its also an old outdated social drama tactic that lauda, carlton used to do, but they too learned the hard way.
so it appears they passd the mantle down to you guys. but you seem to have not progress any further then them as you still echo the same sentiments and myth rhetoric.. so its just boring
Because you lost everyone's trust franky1. I believe it's ok to have an opposing opinion, but you know you are not always right, especially in the opinion of big blocks and on-chain scaling. But that's another debate. We can open another topic for that.
anyway with an easy bit of research taking 10 seconds you would have found
https://www.coindesk.com/pizza-lightning-bitcoin"The largest barrier to conversion was setting up a new lightning wallet,” Reeves said, adding there were roughly 1,500 orders but only a 10 percent conversion rate because people struggled to use lightning-enabled bitcoin wallets."
I believe you got it out of context, or you're gaslighting again.
The report said,
"Reeves said Fold currently serves 1,500 monthly users, facilitating roughly 35,000 total bitcoin transactions since launching the first version of the app in 2014. Until now, the largely bootstrapped project was funded by a small seed round from Boost VC. Looking forward, Reeves said the plan is to partner with crypto wallet startups for direct integrations.
“The largest barrier to conversion was setting up a new lightning wallet,” Reeves said, adding there were roughly 1,500 orders but only a 10 percent conversion rate because people struggled to use lightning-enabled bitcoin wallets.
“We’ve learned a lesson that in order to grow the lightning ecosystem we not only need the best products, but the best education as well,” Reeves said. “We will incorporate that into our plan going forward.”"
[/quote]
The Lightning Network will improve as the people learn how to use it. The limitations today are not going to be around tomorrow. I have the same opinion that Lightning might become a niche market, but it is too early to say that it's a "broken experiment". There's a lot of room for growth in my opinion.
real funny part, thats 10% success of those that got as far as making an order. think of the ones that tried but didnt even get that far
and i truly am surprised even when you were given a link to a video of LN devs themselves saying the flaws of their own system months ago, your still trying to play the social drama game of "wrong coz franky"
maybe best you take time to do research like i suggest to your buddies who seem to just want to resort to social drama rebuttles of "cant be assed to research so ill just say wrong and include the name of the poster to poke the bear"
Because you are simply wrong or you lie or you gaslight many many times.
Newbies, you should be questioning and debating everything in the forum, especially when someone says "this is right, or that is wrong". There's always a misinformation campaign going on in the forum.
...
as for other point
real bitcoins are held on a blockchain and are only 8 decimals which are locked
12 decimal increase utility.. of a token thats pegged
Not pegged. They are actual Bitcoins in a 2 for 2 multi-sig address.
what you have to try to realise and research is the difference between the 8decimal valued tx used for opening closing. which does broadcast to bitcoins blockchain and the 12 decimal used only within and for LN payments. they have 2 different functions/scripts. they have 2 different token systems. you wont see a 12 decimal tx on the bitcoin blockchain.
so you might want to really understand and research things
It increases utility
in the Lightning Network, and therefore
increases Bitcoin off-chain transactions, and therefore
increases Bitcoin's utility as a whole. Read that again.
imagine it like a cheque.
is a cheque a true guaranteed payment. or do people rush to get it cleared/settled before proclaiming the IOU is cleared and settled and any funds owed are no longer owed.
if you think that just handing out signed 'payments' not cleared are just as trusted. then realise that cheques are only trusted due to laws and KYC allowing someone to chase the non paying IOU handler shhould a cheque not clear. .. which LN doesnt have that protection (as yet)
if you stil think that you will happily accept un-cleared chques without the laws/kyc. then you ar risking mor then you care to admit
so be careful using LN and definetly dont over promise/over promote it unless you understand it fully
Bad comparison. Or is that your way of gaslighting again.
Bitcoins in Lightning are actual Bitcoins.
