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I remember reading that the Lightning network can be attacked by people spamming it with withdrawal requests, resulting in funds being stolen from users. Furthe

I remember reading that the Lightning network can be attacked by people spamming it with withdrawal requests, resulting in funds being stolen from users. Furthermore, I remember reading that this attack is to some extent not solvable. I need to find a link. [EDIT: I think this might be it: https://decrypt.co/33917/bitcoin-stolen-lightning-network-attack-warn-researchers https://decrypt.co/33917/bitcoin-stolen-lightning-network-at....] I'm pro-Bitcoin, and I own some, but what worries me is whether the scalability problem will ever be satisfactorily solved. It's been 5 years since Lightning was first suggested and it's still only at Alpha stage. And if the scalability problems are never overcome, will Bitcoin still maintain whatever value it has now?

drcross 6y ago
Gold isn't free to transport. Bitcoin shouldn't aim to be either. We don't want starbucks transactions in the same database as people saving for their pension. If you're transporting large amounts of money (digital gold) scaling isn't an issue.
- webinvest 6y ago
  Bitcoin has a hard limit of 4.6 transactions per second. Gold doesn’t. As Bitcoin becomes more popular, it becomes more expensive to transact as everyone bids up the transaction price. Many people with small balances in their wallet will see their entire wallet balance become illiquid because the fees will be higher than their entire investment. Eventually we could see institutions and brokerages being the main coin holders because if it costs $1000- $10000 per transaction, it only makes sense to do so in $500k+ transactions. Last time Bitcoin was $19000/ea, it cost me $180 to move the coins from one wallet to another.
lawn 6y ago
If you're looking for scaling, look at cryptocurrencies other than Bitcoin. On-chain scaling is far from explored, and it's really the only way to solve it properly.

drcross 6y ago

Gold isn't free to transport. Bitcoin shouldn't aim to be either. We don't want starbucks transactions in the same database as people saving for their pension. If you're transporting large amounts of money (digital gold) scaling isn't an issue.

webinvest 6y ago
Bitcoin has a hard limit of 4.6 transactions per second. Gold doesn’t. As Bitcoin becomes more popular, it becomes more expensive to transact as everyone bids up the transaction price. Many people with small balances in their wallet will see their entire wallet balance become illiquid because the fees will be higher than their entire investment. Eventually we could see institutions and brokerages being the main coin holders because if it costs $1000- $10000 per transaction, it only makes sense to do so in $500k+ transactions. Last time Bitcoin was $19000/ea, it cost me $180 to move the coins from one wallet to another.

lawn 6y ago

If you're looking for scaling, look at cryptocurrencies other than Bitcoin. On-chain scaling is far from explored, and it's really the only way to solve it properly.