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People always forget to include future innovations in their projections. It's as if they don't believe (or know) that software can rapidly improve. The lightni
by coralreef 9y ago
People always forget to include future innovations in their projections. It's as if they don't believe (or know) that software can rapidly improve.
The lightning network looks very promising in its ability to scale and reduce fees. It would make transactions nearly instantaneous, have reasonable fees, and help scale the network.
- TheDong 9y agoHelp scale "the" network? No, it would help scale "the lightning network" which would not be the same as "the bitcoin network".
- coralreef 9y agoPushing transactions into sidechains helps free the main network from congestion. So while it may not be technically true that the main network's capabilities have changed, users should see massive improvements.
- daveguy 9y agoWhen no one uses bitcoin anymore there will no longer be any congestion. Solid.
- o_____________o 9y agoWhat is it about bitcoin conversations that turn HN into a Reddit-esque sarcasm pit? We can debate difficult topics with civility.
- geezerjay 9y ago> People always forget to include future innovations in their projections. It's as if they don't believe (or know) that software can rapidly improve. And you posted that comment while driving your flying car on your way to alpha centauri, right? Foolosh cargo cult beliefs such as the ones you've illustrated do not serve as any basis to make investment decisions.
- coralreef 9y agoEveryone thought Netflix was a useless mail-order DVD company until it dominated streaming video. Everyone thought Amazon would never make a profit until it revealed the profit monster that is AWS. No one can predict the future, all you can do is take the information you have available today and come to your own conclusion. If you don't understand the implications of cryptocurrency on society and money, then that's your loss. If you think you do understand it and believe otherwise, then go ahead and short everything and go make some profits against it.
- zenlikethat 9y agoIf "everyone" though Netflix was "useless", then its win came out of the blue. Meanwhile you're trying to argue that the current hype around Bitcoin is justified because of something that _might_ happen in the future. There were a lot of massively over-hyped Internet companies too. They _could_ have developed technology and a big business. But the opposite happened - they went bankrupt.
- coralreef 9y agoI'm sure some very smart people saw a path to internet streaming distribution and negotiation leverage with their content base. I don't know if the hype/price is justified, I just know cryptocurrencies are going to change the world. It seems to me that something that important is probably worth betting on, and not against.
- cglace 9y agoEveryone did not think either of those things. In fact most people saw a lot of value in both companies and used/invested heavily in both. I've followed bitcoin from the beginning and personally think the only problem it seems to solve is a way for techies to get rich quick.
- Helloworldboy 9y agoThis comment is mind-bogglingly retarded. There should be a knowledge test to comment in Bitcoin threads on HN.