/biz/ - Business & Finance

Yes

>>14009307
No op san. Lower or higher, it will fail nonetheless.

>>14009396
Why? LN is great. 1sat/byte transactions that are INSTANT.

>>14009307
lets go for 100 kilobyte blocks

>>14009701
Tbh if you could find a reliable hub, you could theoretically give them fiat and they give you a funded channel and never really have to deal with on chain again. Just leave that to someone else. It's much slower and more expensive than LN so I don't really even see the point in using it.

>>14009654
20 sec is not instant. less than one sec like in bsv is instant

>>14009833
wow
absolute state of commies

yo fag, why not simply use xrp which is not a crypto? why trusting nodes with your crypto?
what's the difference between lightning nodes and banks?

how desperate are you fags?

>>14009654
Instant relative to what BTC maxis are used to.

While I do support this move, but the thing about LN is its not legally compliant due to its money transferring method. Read Craig Wright's new blog post about this. Not shilling but what he said in the blog sounds true in real world. Most of crypto are literally taking advantage of tranferring digits here and there, but misses the "money" concept.

>>14009844
0conf is a meme

>>14009853
It's not a bank. They can't just "print" money out. It's still tied to Bitcoin, which doesn't scale so we need 2nd layers to handle large volumes of transactions and then settle batches on chain later on. This way the blocksizes are manageable so everyone is still capable of running a full node. If we don't have 70% or so of users running full nodes the security could be compromised.

>>14009886
i asked what the difference is and the fact is, there is absolutely no difference

>>14009910
LN is decentralized, banks are not. But also as I said, it's all beholden to btc. They cant inflate the currency. Bitcoin can't scale without this. Big blocks are far too simple which is why it's a dumb approach, especially since it causes huge centralization and literally nobody would be able to run a full node at home.

>>14009952
LN is decentralized? How? Having different nodes? Just like banks?

>>14009957
Anyone can run a LN node.

>>14009654
>instant

>>14010182
that's not what decentralized means. everyone can hold USD, is it decentralized?

you kids are so stupid

>>14010194
Me holding usd doesn't connect Alice and Bob together. Me running a LN node does.

>>14010312
not really, only if they decide to use you. you can be a trustee, like with usd. how is usd decentralized?

>>14010329
Usd isn't decentralized at all.

>>14010439
same like LN isn't.
thank you very much for confirming it

>>14009957
LN is a free market backed by the bitcoin blockchain (the most secure, decentralized, longest lasting, and fairly distributed chain ever)
every satoshi and channel is bitcoin locked in a multisig wallet providing liquidity for the network to work
lightning when it takes off is going to have the same effect as masternodes/PoS nodes sucking up trade able coins to earn interest in channels by providing a service
this will shrink the amount of available bitcoin's left up for sale and make the price go astronomical

>>14010480
lovely copypasta

>>14010486
I just typed that up
LN is going to be one of bitcoin's killer apps it just needs a few more efficiency upgrades to be widely used
I run my own LN node and study the game theory behind it
It works right now but to become global and retard proof it needs 4 or 5 key upgrades

>>14010523
>killer apps
Listen I'm in support of LN and Bitcoin but this stupid fucking meme term needs to stop.
>MUH KILLER APPS

like channel management is mostly a hands on thing right now, LN needs automation and while autopilot works it isn't optimized
the creation and closing of channels is clunky, every on chain interaction should be efficiently written with a submarine swap, a loop in loop out, etc.
the good thing is bitcoin has 3 main teams (eclair, LND, and c-lightning) plus some smaller groups working on LN all following BOLT spec which can be upgraded without needed on chain consensus so it's moving really fast
outside that core devs have made proposals on the upgraded segwit version which includes schnorr sig, taproot, graftroot, and this is in review in BIPs

for the world to use this I'd honestly say it's going to take another 2-3 years but when I say that I mean extremely efficient nodes routing balancing running behind a clean GUI

Blockstream itself warned people blockchains don't work.
So just use Liquid.

>>14010480
Wait, so Bitcoin is becoming proof of stake? How much do you need to stake Bitcoin?

>>14009833

>>14010588
lighting routing generates fees by providing liquidity
so instead of staking and needing to watch the entire network, you create channels to active nodes and bitcoin is bounced back and forth through your node while you collect a fee
you only need to keep track of the latest state of the channel so this will be able to scale unbelievably
the thing is fees are dirt cheap on LN right now I couldn't even recoup my transaction fee I was routing for less than 1 satoshi a transaction (LN has 4 more decimals down to millisatoshi)
routing and providing liquidity will probably be a competitive game that average retards won't be efficient enough to compete
the good thing is it'll keep bitcoin's fees really low, and the network really efficient

>>14010588
https://medium.com/@timevalueofbtc/the-time-value-of-bitcoin-3807b91f02d2
https://stephanlivera.com/episode/65

>>14010599
What shitty FUD that tweet is.
>hurr durr im too brainlet to want to control my own money so I just give it to the money jews to handle hurr
Smart money makes smart purchases. Just because your too dumb to be your own bank doesnt mean everybody wants to hand their cash over.

>>14009307
No. Controversial, dangerous and not clearly useful for anything.

Fixed 1M(2,5MB with segwit extras) block size is easy to operate by small operators.

300mb won't help significantly, mobile phone won't run full nodes thanks to it.

https://medium.com/@timevalueofbtc/the-time-value-of-bitcoin-and-lnrr-e0c435931bd8