[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 573 KB, 480x596, BGnhGPg.png [View same] [iqdb] [saucenao] [google]
6685416 No.6685416 [Reply] [Original]

WOW - Ive been testing lightning network and wow its amazing the transactions are a million times cheaper than bcash or any other altcoins is crazy :O anyone else ?

>> No.6685567

>>6685416
No they aren't. For Bitcoin Cash you pay 1 satoshi per byte. For Lightning you need to fund a channel and the current fee rate for Segwit Coin is 418 satoshis per byte. Segwit Coin is also about 6 times more valuable than Bitcoin Cash. That means you need to do 2508 transactions on Lightning to get even with Bitcoin Cash assuming the Lightning fees are zero, which they aren't. Please learn basic math. Also its funny how you use a scam artist as your image when posting about the Segwit scam coin. Have un losing your money with its bugs.

>> No.6685682

>>6685567
>>>6685416 (OP)
lol at using lower USD value of BCH as part of your argument why BCH is better.

This whole thing is about scaling. Off-chain scales better than on-chain and on top of that has immense privacy benefits. Or do like it when literally the whole world can track your online dildo purchases?

>> No.6685733

>>6685682
this

>> No.6685743

>>6685682
>off-chain

Is Paypal off-chain?

>> No.6685766
File: 148 KB, 350x350, greg-maxwell.png [View same] [iqdb] [saucenao] [google]
6685766

>>6685416
LN works so well even dear leader neckbeard resigned in great celebration

>> No.6685790
File: 304 KB, 638x600, corecashnervous.png [View same] [iqdb] [saucenao] [google]
6685790

>>6685682
https://www.youtube.com/watch?v=YmF79Zn6-bk
https://youtu.be/8FFly8VF950

>> No.6685794

>>6685416
outmathed by >>6685567

>> No.6685809

>>6685743
Lightning = (effectively) trustless. Paypal =/= trustless.

>> No.6685831

>>6685743
paypal is not blockchain, wtf

>> No.6685843
File: 97 KB, 600x600, bcashlolJesus.jpg [View same] [iqdb] [saucenao] [google]
6685843

>>6685809
https://www.youtube.com/watch?v=k14EDcB-DcE

>> No.6685869

>>6685831
see
>>6685843

>> No.6685880

>>6685416
Wow yes it's so amazing :)

>> No.6685928

>>6685682
How else do you compare fees other than by using an equal unit of value dumbass. Have you ever done math before? Or should I just make up units and say BTC fees are 50 sodpacks and the BCH fees are 100 zignigs? Is that what Corecucks do?

Also BCH is adding zk-snarks, zerocoin protocol, and maybe even ring signatures and it already has Cash Shuffle. BTC is a joke compared to the privacy of BCH. Finally off-chain scaling (Lightning) doesn't work unless you have at least 100MB blocks. With 5 billion people who can use it and only 210 million transactions per year on a 1MB block it will take 24 years to get one channel open for everyone. Now remember that Lightning is not centralized so with only one channel open in a randomly connected network you only have a 63% chance of being able to successfully route your channel. So in order to get 99% chance of routing your channel you need 14 channels per person. So that's over 330 years to get everyone on Lightning with enough channels for the system to work. Then its another 330 years to close the channels. Enjoy your wait and remember to thank the Jews at Blockstream for your shitty experience.

>> No.6686063

>>6685928
>PhD in math
>Any job you want
>300k starting

>> No.6686122

>>6685567

bcash transactions are only cheaper because no one uses it.

LN offloads on chain transactions so they will be cheaper too

>> No.6686126

Bcash is an inferior store of value because it's associated with known conmen, criminals and sneaky chinks.

>> No.6686157

>>6685809
it needs centralized hubs. You have to trust the hubs you use to not be ass hats.

>> No.6686186

>>6685682
>literally being cucked this hard
I feel more pity than anger towards you

>> No.6686200

>>6686122
This is patently false. BCH fees get smaller the more transactions there are. That's the advantage of having massive block sizes. The only thing that makes fees rise is getting near the block size limit which has been made impossible with Bitcoin Cash.

>> No.6686248

>>6686200
DELETE THIS
DON'T OPEN THEIR EYES
REEEEEEEEEEEEEEEEEEEEEEEE

>> No.6686281

>>6686126
You mean its associated with the creator of Bitcoin and the blockchain, the first venture capitalist in crypto, and the main who controls the production and distribution of Bitcoin miners. So all of the most powerful and successful men in Bitcoin support Cash and not Segwit. The fact that you call them conmen and criminals is just evidence you are a communist.

>> No.6686299

Expect malicious hubs and huge bitcoin crash in the future.