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Lightning protocol looks like the right solution https://medium.com/@lightning_network/lightning-protocol-1-0-compatibility-achieved-f9d22b7b19c4 https://mediu

Lightning protocol looks like the right solution https://medium.com/@lightning_network/lightning-protocol-1-0-compatibility-achieved-f9d22b7b19c4 https://medium.com/@lightning_network/lightning-protocol-1-0...

MrBlue 9y ago
Yes and only years away!
- VMG 9y ago
  I have successfully sent payments already. If you are a computer-savvy person you can set it up in a few hours. Let me know if you need help.
  - parenthephobia 9y ago
    Whereas I can set up a Paypal account in a few minutes, even if I'm not computer savvy.
colordrops 9y ago
No it doesn't. The reason BTC is choked off is because the core devs are promoting the lightning solution instead of on-chain scaling because they have a stake in making money off the lightning network. And now that we've reach a critical mass of transactions this lightning network is nowhere to be found even though its been promised for years. The core devs are like the DNC. They'd rather kill the blockchain than capitulate and update the block size. edit: downvoting me out of visibility won't change the truth. The lightning network, which is driven by Blockstream, which makes up the most core devs, is planning to make money off of lightning network fees, and they aren't willing to give that up even if it means killing BTC. It's not even a secret - there is plenty of public info on Blockstream's business model.
- charlesdm 9y ago
  Updating the block size is not a permanent solution though? You can't just keep updating the block size?
  - colordrops 9y ago
    It doesn't have to be a permanent solution. Just a reasonable update. And there is no such thing as a permanent solution. It's like a startup that runs out of money and dies because they spent years making the "permanent solution" rather than release early and often, iterating on the solution. And enough with the obvious sound bites by the way.
- VMG 9y ago
  > they have a stake in making money off the lightning network How? Anyone can run a lighting node > And now that we've reach a critical mass of transactions this lightning network is nowhere to be found That conflicts with the other statement. Please tell me where you are stuck: https://medium.com/@JimmyMow/announcing-zap-a-lightning-network-wallet-47622acd89fb https://medium.com/@JimmyMow/announcing-zap-a-lightning-netw...
  - colordrops 9y ago
    Don't play ignorant. The lightning network is no where near the availability to be used by everyone. Blockstream is trying to get it out as fast as they can, and they are trying, but it's not adopted yet, despite years of development and promotion. https://medium.com/@luxushub/the-truth-about-blockstream-and-the-lightning-network-896d69b48f0f https://medium.com/@luxushub/the-truth-about-blockstream-and... The lightning network is backed by Blockstream, which employs the most core devs. Blockstream plans to make their profits by making fees off of providing lightning network channels to exchanges.
    - VMG 9y ago
      What competitive advantage would Blockstream have? Why would exchanges not peer directly? It is all open source protocols and software. There are three major implementations to choose from.

MrBlue 9y ago

Yes and only years away!

VMG 9y ago
I have successfully sent payments already. If you are a computer-savvy person you can set it up in a few hours. Let me know if you need help.
- parenthephobia 9y ago
  Whereas I can set up a Paypal account in a few minutes, even if I'm not computer savvy.

colordrops 9y ago

No it doesn't. The reason BTC is choked off is because the core devs are promoting the lightning solution instead of on-chain scaling because they have a stake in making money off the lightning network. And now that we've reach a critical mass of transactions this lightning network is nowhere to be found even though its been promised for years. The core devs are like the DNC. They'd rather kill the blockchain than capitulate and update the block size. edit: downvoting me out of visibility won't change the truth. The lightning network, which is driven by Blockstream, which makes up the most core devs, is planning to make money off of lightning network fees, and they aren't willing to give that up even if it means killing BTC. It's not even a secret - there is plenty of public info on Blockstream's business model.

charlesdm 9y ago
Updating the block size is not a permanent solution though? You can't just keep updating the block size?
- colordrops 9y ago
  It doesn't have to be a permanent solution. Just a reasonable update. And there is no such thing as a permanent solution. It's like a startup that runs out of money and dies because they spent years making the "permanent solution" rather than release early and often, iterating on the solution. And enough with the obvious sound bites by the way.
VMG 9y ago
> they have a stake in making money off the lightning network How? Anyone can run a lighting node > And now that we've reach a critical mass of transactions this lightning network is nowhere to be found That conflicts with the other statement. Please tell me where you are stuck: https://medium.com/@JimmyMow/announcing-zap-a-lightning-network-wallet-47622acd89fb https://medium.com/@JimmyMow/announcing-zap-a-lightning-netw...
- colordrops 9y ago
  Don't play ignorant. The lightning network is no where near the availability to be used by everyone. Blockstream is trying to get it out as fast as they can, and they are trying, but it's not adopted yet, despite years of development and promotion. https://medium.com/@luxushub/the-truth-about-blockstream-and-the-lightning-network-896d69b48f0f https://medium.com/@luxushub/the-truth-about-blockstream-and... The lightning network is backed by Blockstream, which employs the most core devs. Blockstream plans to make their profits by making fees off of providing lightning network channels to exchanges.
  - VMG 9y ago
    What competitive advantage would Blockstream have? Why would exchanges not peer directly? It is all open source protocols and software. There are three major implementations to choose from.