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/biz/ - Business & Finance

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6274606 No.6274606 [Reply] [Original]

Bitcoin was clearly meant to be a currency, not a store of value. We are not even debating about that. In the moment it is definitely not a working currency.

Lightning Network has been promised to come for already 3 years now, but nothing has happened. LN development is lead by a woman...maybe that is the problem. Even if it does ever come, it wont solve much. Lightning Network is an off-chain solution, that is useful for only some obscure cases. Opening a channel to someone would cost the normal tx fee: right now about $25, definitely much more in the future. Closing a channel will also cost the same amount. If you make a network of channels, then it is bound to become centralized and controlled by payment hubs and thus also not free at all.
Simple 5min video about LN: https://www.youtube.com/watch?v=rrr_zPmEiME

Rootstock is bound to be a failure, because it must be on-chain and thus can't use LN and will be extremely costly to use.

Oh and also, BTC uses much more energy for transfers than VISA. The energy usage will go up with the price of BTC.

What am I missing? Is there some scaling solution in the works for BTC that actually can solve its problems? Talk some sense to me.

>> No.6274681
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6274681

>>6274606
>Is there some scaling solution in the works for BTC that actually can solve its problems?
No

>> No.6274970
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6274970

bump

>> No.6274998

>>6274606
>Bitcoin was clearly meant to be a currency, not a store of value.

Bitcoin is all things. It is a philosophical change in economics. It is a new language for expressing wealth. More importantly, it is an open and free market in the purest sense of those words. If there is currently no transaction solution for low value, high volume purchases, what does that tell you?

That there is not sufficient demand.

When there is a genuine demand to transact in crypto, the space will be literally flooded with competing rival products. Each will improve upon and streamline the last.

These are only beginning to emerge now, because the money to pay for their development and support their maintenance is only just starting to accumulate in crypto.

Patience is literally all you need to make it.

And maybe 1-2btc.

>> No.6275203
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6275203

>>6274998
You just went blown store of value meme. Please tell me this is copypasta or satire.

>> No.6275339

>>6274681
HAHAHAHAHAH this is my goal after I tell people I got 10mm in crypto

>> No.6275408

>>6274998
Without reading your text I can tell that you spend a lot of time on reddit. You know I'm right. Crazy isn't it?

>> No.6275449

>>6274606
>tokenization coming in Q1 2018
>smart contract coming in 2018
>Bitpay rollout coming Q1 2018
>Coinbase global BCH rollout coming THIS MONTH
>sub cent fees
>zero conf instant transactions
>adaptable bocksize

Bitcoins future has never been brighter

>> No.6275525

>>6275408
All you needed to see is he tried to make this a “[Serious]” thread like on leddit when they don’t want to only have the same jokes and puns in a thread. I can’t blame him asking us instead of those faggots on /r/bitcoin though.

>> No.6275549

that's why Bitcoin Cash forked... even lightning network cant save bitcoin from being destroyed by blockstream. Everything's alright... the real bitcoin is BCH. This year will show the world what the real bitcoin is.

>> No.6275591

>>6275449
I see what you did there

>> No.6275609

I was shilling pfr and prl here for you on /biz since both were 0.07 and 0.01 respectively. Get profit on egas and make me (and you) rich.
Take a look@ https://coinmarketcap.com/currencies/ethgas/

>> No.6275673

>>6275525
Yes, I spend time on reddit. You do as well because you know of the [Serous] tag.

He didn't even address me however though. He addressed another poster.

>> No.6275679
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6275679

>>6275549
>Still believing the blockstream conspiracy

>> No.6276186

>>6275525
>>6275673
How new are you?