CelticsLV wrote:mercury wrote:CelticsLV wrote:
Only problem is that you listen and absorb only what you want to hear. You're probably talking about that LN? There's already huge division in true bitcoin community (you know, the ones who actually try to use it and not only speculate on exchanges). Tell me how your next big thing Segwitx2 turned out? Yeah, postponed indefinitely because it did exactly what i said. Bitcoin community can't decide itself what it wants resulting in forks like Bitcoin Cash.
And LN brings a lot of other issues. Those are complex new layers which will probably be full with bugs that will take years to fix and there's no telling if it even gonna work in real life and if people even gonna use it. LN brings another potential issue which goes against the original idea - fears of centralizations and control. Let me guess, it is already dividing bitcoin community? The only ones who are usually boasting about this stuff are clueless speculators like you.
Segwit 2?... that's humorous considering it was a fork initiated by millionaires and miners trying to centralize a decentralized solution... it didn't work. LN has already been proofed... I can understand why that would bother you and your banker friends
Proofed how? Tested in isolated test cases?
How about running succefully on mainnet without failed transactions? How about making it convenient? So far it's only good for true enthusiasts. Not to mention that it has no way of reversing payments. Somebody *** up his payment and it's over, you lose your money.
https://news.bitcoin.com/lightning-network-centralization-leads-economic-censorship/https://www.reddit.com/r/Bitcoincash/comments/7ixumj/lightning_network_will_likely_fail_due_to_several/Your LN is far from being real working solution to bitcoins scaling and enormous fee problems.
This guy actually has very balanced opinion and isn't living in a bubble. He acknowledges both sides. You remind me of delusional idiots over there at r/bitcoin. You can't find almost anything constructive there. It's full with memes and delusions - definition of your average crypto investor.
This guy had a couple of decent points in regards to the current utilty in terms of transaction speed and cost (the whole reason for segwit & LN). He also had several contradictions… he love’s LN… he says bitcoin is a bubble while promoting btc contributions and continuing to invest in it. “It could drop to $3,000 but wouldn’t be surprised to see 40K within a month” (way to make a stand :^)
He's looking from a static window assuming there will be no advancement or big players entering the market… Most big retail services are waiting for the scalability solution. To quote Scott Cutler, senior vice president of eBay America “we’re seriously considering accepting bitcoin, but “we’re not quite there yet.”
I think what most detractors don’t understand are the tangible benefits today and in the near future that address real world issues… I’ll touch on a handful.
It’s an international currency without limitations for fiat exchange. The rates are far less than bank wires.
This is a 24/7 service without waiting days for banks to clear.
The system uses mass confirmation for audit trails vs a single hackable database. This greatly reduces fraud and security issues.
It provides commerce opportunities to the 2 billion “unbanked” people
The Lighting network will provide instant off chain transactions with fees less than credit cards
Eliminates counterfeit money
Blockchain contracts (legal forms, real estate etc) can save volumes in administrative time & cost.
The benefit list is long…. There is a large talented development team… because it’s open source anyone with skills can contribute to the code.
To address where they are in testing LN… they recently passed live cross chain transactions between bitcoin & litecoin… they have opened up the app for anyone that wants to test before the live beta…. Without having inside information I can only repeat what they are saying “very close to implementation”… at least we know real solutions are coming… the code is out there for everyone to see.
If you’re interested in the real threats that would be FUD (fear, uncertainty and doubt) paid for by financial institutes that stand to lose… as well as their loobying influence for unfair regulations. I would expect to see an increase in “bitcoin will collapse soon” commentary by their shills. There is a site that records everytime it has been announced that bitcoin is dead… the last I check it was apprx. 200 times.
Most people are expecting a short term price correction with CME futures this upcoming week where the institutional investors can do their version of pump and dump... maybe as much as 30%... if it happens they’ll all be saying “see bubble, bubble! … and the masses will be salivating at the opportunity to buy into the dip as always.
Bitcoin has been around for about 9 years… It has a 100% rate of recovery with price improvement so far…. With massive attacks all along the way it’s the honey badger of currency.
If anyone is interested in learning more without uninformed attacks we’d be glad to share… if it’s not for you… cool.