4 ms·

It will. Via second and third layers. It'll scale just fine. An example second layer that you can use right now is the lightning network https://lightning.net

It will. Via second and third layers. It'll scale just fine. An example second layer that you can use right now is the lightning network https://lightning.network/ https://lightning.network/

Nursie 6y ago
Lightning is a joke, with insoluble routing problems, a need for always-on nodes, the requirement to lock funds in channels, and the requirement for on-chain transactions to start and close channels. The BTC network can't process enough transactions to make even that viable.
- gruez 6y ago
  >with insoluble routing problems can you elaborate on this? >a need for always-on nodes AFAIK if you're not a payment hub (ie. you want to route other people's payments) you don't need to be always online.
  - Nursie 6y ago
    > can you elaborate on this? Haviong trouble finding it now, but google "lightning network routing problems" and you'll get a lot of results. IIRC the fundamental issue boils down to a hard mathematical problem about node traversal that is not yet solved. I am having trouble recalling the name right now, apologies. > AFAIK if you're not a payment hub (ie. you want to route other people's payments) you don't need to be always online. There have been ways that a counterparty can close a channel in their favour if you aren't online. Perhaps this has been fixed by now.
    - gruez 6y ago
      >There have been ways that a counterparty can close a channel in their favour if you aren't online. Perhaps this has been fixed by now. AFAIK the fix is to have a service (or multiple) stay online for you, and I believe it could be done without requiring access to your private keys. If your counterparty broadcasts a stale transaction that's in their favor, your service will broadcast a newer transaction that reverts it.
bwood 6y ago
I was hoping that link would explain how to actually make a transaction with the lightning network. Can you do that with the Bitcoin-Qt client?

It will. Via second and third layers. It'll scale just fine. An example second layer that you can use right now is the lightning network https://lightning.network/ https://lightning.network/

Nursie 6y ago

Lightning is a joke, with insoluble routing problems, a need for always-on nodes, the requirement to lock funds in channels, and the requirement for on-chain transactions to start and close channels. The BTC network can't process enough transactions to make even that viable.

gruez 6y ago
>with insoluble routing problems can you elaborate on this? >a need for always-on nodes AFAIK if you're not a payment hub (ie. you want to route other people's payments) you don't need to be always online.
- Nursie 6y ago
  > can you elaborate on this? Haviong trouble finding it now, but google "lightning network routing problems" and you'll get a lot of results. IIRC the fundamental issue boils down to a hard mathematical problem about node traversal that is not yet solved. I am having trouble recalling the name right now, apologies. > AFAIK if you're not a payment hub (ie. you want to route other people's payments) you don't need to be always online. There have been ways that a counterparty can close a channel in their favour if you aren't online. Perhaps this has been fixed by now.
  - gruez 6y ago
    >There have been ways that a counterparty can close a channel in their favour if you aren't online. Perhaps this has been fixed by now. AFAIK the fix is to have a service (or multiple) stay online for you, and I believe it could be done without requiring access to your private keys. If your counterparty broadcasts a stale transaction that's in their favor, your service will broadcast a newer transaction that reverts it.

bwood 6y ago

I was hoping that link would explain how to actually make a transaction with the lightning network. Can you do that with the Bitcoin-Qt client?