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>a softfork implementation by Blockstream that fundamentally changes Bitcoin to benefit Blockstream How does it benefit Blockstream?

stale2002 9y ago
Blockstream is working on the lightning network, something that greatly benefits from segwit.
- sanswork 9y ago
  So is just about every large bitcoin company at the moment and AFAIK neither of the lightning network main developers are blockstream employees.
- kobeya 9y ago
  Blockstream has said that their work on Lightning is purely for the benefit of the community -- they hired a known open source developer and gave him free reign to develop his implementation of Lightning (there are 5 competing implementations from other organizations!) in the open, on github, with public purview and no strings attached. It is not covered by any patents by Blockstream, and written to be compatible with a community agreed upon standard. It is a fully peer-to-peer protocol with no central clearing house. So explain to me how Blockstream benefits?
  - stale2002 9y ago
    Blockstream benefits because the company is doing lightning network consulting. That is their entire business model. If the lightning network doesn't come to fruition, their company is screwed.
    - sanswork 9y ago
      So their entire business model is lightning which came around 2 years after they launched? How did they convince investors to give them $76m prior to their entire business model existing?
colordrops 9y ago
They have parents on a second layer (lightning network) that would run on top of Bitcoin and would make money on the transactions, effectively making bitcoin "theirs".
- sanswork 9y ago
  What patents do they have on lightning network? Also how would they make money on the transactions on the lightning network?
  - colordrops 9y ago
    Regarding patents: https://mobile.twitter.com/Satoshi_N_/status/855852865151172609?p=v https://mobile.twitter.com/Satoshi_N_/status/855852865151172... Regard LN, there are fees to make transactions, so whoever is facilitating the transactions will make money.
    - sanswork 9y ago
      What specific claims of those patents are being infringed? It looks like that person just posted every crypto patent then could find. Also which of those patents do blockstream own? I looked at a few random ones and none were owned by them. LN fees are optional and if blockstream wanted to charge them for facilitating transactions they would have to provide a service to make it worth while our the transactions would just route around them.

stale2002 9y ago

Blockstream is working on the lightning network, something that greatly benefits from segwit.

sanswork 9y ago
So is just about every large bitcoin company at the moment and AFAIK neither of the lightning network main developers are blockstream employees.
kobeya 9y ago
Blockstream has said that their work on Lightning is purely for the benefit of the community -- they hired a known open source developer and gave him free reign to develop his implementation of Lightning (there are 5 competing implementations from other organizations!) in the open, on github, with public purview and no strings attached. It is not covered by any patents by Blockstream, and written to be compatible with a community agreed upon standard. It is a fully peer-to-peer protocol with no central clearing house. So explain to me how Blockstream benefits?
- stale2002 9y ago
  Blockstream benefits because the company is doing lightning network consulting. That is their entire business model. If the lightning network doesn't come to fruition, their company is screwed.
  - sanswork 9y ago
    So their entire business model is lightning which came around 2 years after they launched? How did they convince investors to give them $76m prior to their entire business model existing?

colordrops 9y ago

They have parents on a second layer (lightning network) that would run on top of Bitcoin and would make money on the transactions, effectively making bitcoin "theirs".

sanswork 9y ago
What patents do they have on lightning network? Also how would they make money on the transactions on the lightning network?
- colordrops 9y ago
  Regarding patents: https://mobile.twitter.com/Satoshi_N_/status/855852865151172609?p=v https://mobile.twitter.com/Satoshi_N_/status/855852865151172... Regard LN, there are fees to make transactions, so whoever is facilitating the transactions will make money.
  - sanswork 9y ago
    What specific claims of those patents are being infringed? It looks like that person just posted every crypto patent then could find. Also which of those patents do blockstream own? I looked at a few random ones and none were owned by them. LN fees are optional and if blockstream wanted to charge them for facilitating transactions they would have to provide a service to make it worth while our the transactions would just route around them.