/biz/ - Business & Finance

[Anonymous No.10079596]

>Lightning Network will birth Lightning banks. Their first function will be to provide liquidity to Lightning Network by funding payment channels. They will try to position themselves as central routing hubs, capturing as many fees as possible.
https://medium.com/@timevalueofbtc/the-time-value-of-bitcoin-3807b91f02d2

The absolute state of dying BCore

[Anonymous No.10079608]

>>10079596
just bought 100k Lightning™ Bank™ Coins™

[Anonymous No.10079609]

>>10079596
>Can't go offline
>Can't coldstore
>Banks
>Hubs
>Hubs can get regulated
BTC will die probably, the only thing supporting it now is delusion.

[Anonymous No.10079621]

>>10079609
and ETH will take over.

[Anonymous No.10079625]

>>10079609
>can send $300,000,000 for 4 cents
btc is so dead

[Anonymous No.10079629]

>>10079621
lmao
not until vitalik gets his ass up and finally actually does shit instead of just talking about it

[Anonymous No.10079637]

>>10079625
yea sure, maybe you can now and maybe it'll be feeless when LN is available, but the only problem is is that you will need to pay fees anyway to these hubs and LN processors, need to buy LN products to keep you online or trust your money with custodians (aka middleman, third party's.). Its a fucking mess, and anyone not seeing that this is the exact opposite of what BTC started out as probably only has greed in his/her eyes.

Not to mention that Hubs will definitely get regulated as they are legally custodians and payment processors, and since these hubs need liquidity to function only big corps will be able to function as a hub, all these companies that are involved with LN in terms of Hubs, or products for LN are registered. So onion routing by default doesn't work since a hub could simply refuse to tunnel money from an an onion route or else they'd get anally fucked by the CTFC etc.

[Anonymous No.10079639]

>>10079625
>can send $300,000,000 for 4 cents
t. pulled out of your ass

Lightning can't handle more than $60.

[Anonymous No.10079644]

Bitcoin Core is purposely delaying its development after the elites placed their minions in charge of it around 4 years ago. This is why Vitalik and a nearly every other developer left.

They did this to accumulate more and buy time for themselves to figure out what the hell to do with crypto currencies in general and better understand it to control it. This is what globalists do with just about everything.

Unfortunately for them Satoshi made it open source and everyone can just make their own coin. This really accelerates things, they can't delay it for 50 years like they did with the internet or with cell phones. The cat is out of the bag. They are pretty much fucked and there will never ever be a time like this again.

[Anonymous No.10079647]

Litterly, you need to be online, can't go offline. So its either, you buy a LN processor and pray your internet never fails on you or go trust your money with a custodian aka middleman, aka third party, aka bank

>Bitcoin
Be your own bank
>LN
Trust custodians

And then these custodians try to tell you that its only a minimal level of trust since you can choose how much you trust them wtih. WTF LOL

Like idk if BCH will win or ETH or Ripple, what I do know is, you will lose holding BTC.

[Anonymous No.10079652]

>>10079637
it seems you didnt understand my post.
who gives a fuck about muh micro transactions (doge and ltc exist) when you can send the gdp of a third world nation for less than 10 cents

[Anonymous No.10079656]

Also wtf, can't use cold storage, where's my security then? What happened to being your own bank, what happened to financial sovereignty? What happend to be able to be responsible for your own money and not having some asshole douchebag behind a desk tell you what you can and can't do with your money, freezing your fucking account etc.

Bitcoin has become a joke and the only people that still defend it are greedy dumbasses with $$$ in their eyes, some college student with 500$ in BTC saying he uses it as a store of value. How retarded do you have to be to believe such bullshit? He just wants to dump on the next sucker thats stupid enough to buy
>muh digital gold
Goddam fucking fools. I actually cried figuring out what LN really is. You know how painfull it is to see the one thing that could actually challenge the authority of governments and banks be royally fucked form the inside?

[Anonymous No.10079660]

>>10079644
>reddit spacing
>bot posting
the state of bcashies

[Anonymous No.10079677]

>>10079660
>functional any day now

[Anonymous No.10079679]

>>10079637
There's just not a good way to scale without some degree of centralization, it kind of sucks but it's how it is, even exchanges centralize things. Once I see one alternative that convinces me I don't mind hedging harder but I have really not seen it. It's very hard to treat this as hard money, with how unscalable the actual blockchain is, for now there aren't that many people interested on onchain transactions and it's not like LN gets rid of them, it brings ease of access for the payment layer.

[Anonymous No.10079685]

>>10079625
Only because nobody uses BTC anymore

[Anonymous No.10079687]

hi guiz

[Anonymous No.10079702]

>>10079679
>brings ease of access for the payment layer
This gotta be a joke.

[Anonymous No.10079704]

>>10079679
Why would I use BTC for such things though? If I want a bank I'll just stick to what I use now. ANd if BTC is going to rely on the traditional system and I can't cold storage, you might aswell just use their state/bank issued cryptocurrency instead of BTC. What the fuck is this bullshit? Banks could just interconnect eachothers chains and the whole issue of being able to send money instantly anywhere is solved.

But thats not what its about for me. So I really don't see the fucking point.

[Anonymous No.10079819]

>>10079702
On chain transactions don't disappear because of Lightning Network and I expect to keep using them, cold storage also doesn't dissappear. When I need a super secure transaction, I may use it. But I don't know, for Steam maybe I prefer something else, maybe national currencies which I don't expect will die in my lifetime. The point is a new currency and what matters to me is the integrity of the ledger and a fixed supply. Will someone try to play it loose and cheat? Most likely, we've already have cases of double spending and gotten over it. If someone tries to be a cheeky cunt on LN it's still possible to check the balance and see who is trying to be honest. If you have another vision, fine, but to me this is useful and ambitious enough and about as decentralized as it can be, other attempts at decentralization IMO will end being centralized, just in a different way.

[Anonymous No.10079824]

>>10079819
for
>>10079704

[Anonymous No.10079855]

[Anonymous No.10079950]

>>10079629
it's true they're coasting, but ethereum doesn't have any actual competition. I wish they had, there's nothing that cuts out bullshit like competition breathing on your neck.
Eos is a centralized shit that actually competes only with AWS, neo is centralized shit that has lower tps than bitcoin, tezos is vaporware, cardano is autistic (haskell, even slower than go) and development is even slower than ethereum.

Even if a technologically better in everything platform appeared, ethereum has enough network effects to be on top for at least 2 years.

[Anonymous No.10079953]

>>10079596
>The absolute state of dying BCore
But that's the best news BCore could possible have! It's now controlled by the banks! It's like inventing in banks in 1977 before the gold standard was canceled.

[Anonymous No.10079968]

>>10079652
You completely missed OP's point.

[Anonymous No.10080000]

>>10079679
>>10079819
For the past 3 years you've been parroting over and over you don't have to keep a tx on the chain forever a just so I'll buy a $2 cup of coffee, and now you're saying it's not meant to be used as everyday money... lol

>>10079704
Banks will never use BTC they'll use their own networks.

[Anonymous No.10080051]

>>10080000
The IOUs that are "bitcoins" over LN could be the everyday money. I really think it's a bit silly of a usecase, but maybe.

[Anonymous No.10080061]

>>10079596

< flippening

LN or not the Bitcoin is fucked.

Bitmain has near 51% hash rate, they could double spend when if they want.

The Blockchain is outdated, BTC will go back to 0.

[Anonymous No.10080150]

>>10080051
Why would someone own BTC?

[Anonymous No.10080207]

>>10080150
Large transactions mainly. This is one of the reasons smart contracts directly on the BTC chain make little sense long term, blockchain space could become too expensive making the contract impractical, the chain could maybe be used then to verify the validity of the contract. I don't know, in 10 years we'll see how and why we use these things or maybe we're still trading shitcoins from each other and that's all this is good for.

[Anonymous No.10080711]

ITT: Dunning Kruger effect

[Anonymous No.10080722]

>>10080061
Bitmain doesn't have 51% hash rate.