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Another fork of bitcoin. So not actually bitcoin but still bitcoin at the same time. This appears to be an issue with cryptos. Nothing stops another fork later.

Another fork of bitcoin. So not actually bitcoin but still bitcoin at the same time. This appears to be an issue with cryptos. Nothing stops another fork later. It’s like people find a problem with a currency and start printing money in another one. I can see blockchain currency being useful when it is backed by something solid. But right now it’s still just wasted electricity. Eg MasterCard and friends could easily create a currency and use it for exchange. If I can’t actually use a currency to buy/sell or store value then what is it for? Or am I wrong?

sgeisler 8y ago
> Another fork of bitcoin. That's factually wrong. Lightning is a protocol on top of Bitcoin (like HTTP is built on TCP) and not a fork. It has a different set of trade offs: transactions on it are instant, but one should only store small amounts on it (like what you would carry in your purse) since your money on it can be stolen if you are offline for too long (and you did not pay someone to monitor the network for you). But as long as you are online often enough your funds are secure. If someone is curious how it works: https://lightning.network/ https://lightning.network/
- adiusmus 8y ago
  Different Lightning. So have a look at this: https://chat.lbtc.io/topic/37-faq/ https://chat.lbtc.io/topic/37-faq/
  - detaro 8y ago
    What makes you think that's what the post you replied to talked about?
  - adiusmus 8y ago
    Lighting as a bitcoin fork is at: http://lightningbitcoin.io/ http://lightningbitcoin.io/
- adiusmus 8y ago
  And having money stolen from my wallet because I haven’t logged in recently is NOT useful for a currency.
  - DINKDINK 8y ago
    Goal post moving. You claimed Lightning was a fork of bitcoin which is patently false. You lost your debate.
    - adiusmus 8y ago
      Lighting as a bitcoin fork is at: http://lightningbitcoin.io/ http://lightningbitcoin.io/ Which is what I was talking about. No goal post moving. Have a nice day, bully boy.
      - dang 8y ago
        You crossed into incivility in this thread, as well as broke the site guidelines by complaining about downvotes. Please review https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html and follow the rules when posting here. I know it's hard when downvotes feel unfair, but those rules all exist for good reason and we ban accounts for breaking them, regardless of how wrong someone else was.
    - deleted 8y ago
      [deleted]
    - dang 8y ago
      Incivility and snark will get you banned here, regardless of how wrong someone else is. Please don't post like this again. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
  - beaner 8y ago
    It's a technical caveat that exists now, but there's nothing categorically preventing additional technology to help users prevent this fate without much work. One thing I don't understand is why so many people seem to have this "Bitcoin CAN not, therefore it WILL not" attitude. Bitcoin is software, it is editable, it is being actively developed. Most of us here, I thought, were familiar with the process of improving software over time by working on it, providing solutions we didn't have before. We don't write code once and say, "welp, software cannot do this thing, because it doesn't already do this thing." What?? People would think you're an idiot. Yet this is the most common type of argument against crypto, even here on HN.

sgeisler 8y ago

> Another fork of bitcoin. That's factually wrong. Lightning is a protocol on top of Bitcoin (like HTTP is built on TCP) and not a fork. It has a different set of trade offs: transactions on it are instant, but one should only store small amounts on it (like what you would carry in your purse) since your money on it can be stolen if you are offline for too long (and you did not pay someone to monitor the network for you). But as long as you are online often enough your funds are secure. If someone is curious how it works: https://lightning.network/ https://lightning.network/

adiusmus 8y ago
Different Lightning. So have a look at this: https://chat.lbtc.io/topic/37-faq/ https://chat.lbtc.io/topic/37-faq/
- detaro 8y ago
  What makes you think that's what the post you replied to talked about?
- adiusmus 8y ago
  Lighting as a bitcoin fork is at: http://lightningbitcoin.io/ http://lightningbitcoin.io/
adiusmus 8y ago
And having money stolen from my wallet because I haven’t logged in recently is NOT useful for a currency.
- DINKDINK 8y ago
  Goal post moving. You claimed Lightning was a fork of bitcoin which is patently false. You lost your debate.
  - adiusmus 8y ago
    Lighting as a bitcoin fork is at: http://lightningbitcoin.io/ http://lightningbitcoin.io/ Which is what I was talking about. No goal post moving. Have a nice day, bully boy.
    - dang 8y ago
      You crossed into incivility in this thread, as well as broke the site guidelines by complaining about downvotes. Please review https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html and follow the rules when posting here. I know it's hard when downvotes feel unfair, but those rules all exist for good reason and we ban accounts for breaking them, regardless of how wrong someone else was.
  - deleted 8y ago
    [deleted]
  - dang 8y ago
    Incivility and snark will get you banned here, regardless of how wrong someone else is. Please don't post like this again. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
- beaner 8y ago
  It's a technical caveat that exists now, but there's nothing categorically preventing additional technology to help users prevent this fate without much work. One thing I don't understand is why so many people seem to have this "Bitcoin CAN not, therefore it WILL not" attitude. Bitcoin is software, it is editable, it is being actively developed. Most of us here, I thought, were familiar with the process of improving software over time by working on it, providing solutions we didn't have before. We don't write code once and say, "welp, software cannot do this thing, because it doesn't already do this thing." What?? People would think you're an idiot. Yet this is the most common type of argument against crypto, even here on HN.