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Jesus, not this bullshit again. It's not vaporware IF YOU CAN USE IT ALREADY. It's already available for you to use on Litecoin. Lightning works, it just needs

by um_ya 9y ago

Jesus, not this bullshit again. It's not vaporware IF YOU CAN USE IT ALREADY. It's already available for you to use on Litecoin. Lightning works, it just needs the services to become user friendly now.

lawn 9y ago
Did they solve the routing problem? No? Then it's not ready. Also, LN requires larger blocks if it wants to scale anything at all. You need to get your coins to and from it you know.
- nkuttler 9y ago
  > You need to get your coins to and from it you know. Once LN works people will need to do this every few weeks, months, or even years.
  - lawn 9y ago
    That alone makes LN a bad idea.
    - darawk 9y ago
      How so? That's how bank accounts work now. You put your money into them, and then you spend it as needed. Why is that a problem?
runeks 9y ago
It's not whether Lightning works or not. We all know it's technically possible to send value using the Lightning Network protocol. What remains unknown, however, is whether this form of clearing network will be sufficient to scale Bitcoin payment processing to a sufficient degree. This is yet to be determined. In other words: can LN support a billion users doing ~50k TPS while keeping fees per payment at or below VISA fees? The Lightning Network is not a solution that allows scaling Bitcoin payments to an arbitrary high throughput and arbitrarily low payment fee. LN has a limit on throughput and a minimum bound on average fee, and what that is for a LN network with N payers and M payees we simply don't know yet. For example: what will the maximum throughput, and average fee, of an LN network with 10 million payers and 10 thousand payees be?
- h1d 9y ago
  I think you are just a few steps too ahead. We aren't at billion users just yet but needs a solution in the near future and scaling to billion users can be discussed a little later.
danmaz74 9y ago
Actually, you can't use LN on Litecoin yet. Still waiting for the implementations.

by um_ya 9y ago

lawn 9y ago

Did they solve the routing problem? No? Then it's not ready. Also, LN requires larger blocks if it wants to scale anything at all. You need to get your coins to and from it you know.

nkuttler 9y ago
> You need to get your coins to and from it you know. Once LN works people will need to do this every few weeks, months, or even years.
- lawn 9y ago
  That alone makes LN a bad idea.
  - darawk 9y ago
    How so? That's how bank accounts work now. You put your money into them, and then you spend it as needed. Why is that a problem?

runeks 9y ago

It's not whether Lightning works or not. We all know it's technically possible to send value using the Lightning Network protocol. What remains unknown, however, is whether this form of clearing network will be sufficient to scale Bitcoin payment processing to a sufficient degree. This is yet to be determined. In other words: can LN support a billion users doing ~50k TPS while keeping fees per payment at or below VISA fees? The Lightning Network is not a solution that allows scaling Bitcoin payments to an arbitrary high throughput and arbitrarily low payment fee. LN has a limit on throughput and a minimum bound on average fee, and what that is for a LN network with N payers and M payees we simply don't know yet. For example: what will the maximum throughput, and average fee, of an LN network with 10 million payers and 10 thousand payees be?

h1d 9y ago
I think you are just a few steps too ahead. We aren't at billion users just yet but needs a solution in the near future and scaling to billion users can be discussed a little later.

danmaz74 9y ago

Actually, you can't use LN on Litecoin yet. Still waiting for the implementations.