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Coiner bingo - Limited supply means value must go up It's a store of value, not a medium of exchange Lightning network or some other yet-to-be-tested solutio

Coiner bingo - Limited supply means value must go up It's a store of value, not a medium of exchange Lightning network or some other yet-to-be-tested solution will fix scalability Crypto investors getting rich is proof crypto is good Security of network must be worth what is spent on mining Mining is mostly renewable energy so energy usage doesn't really count What about energy usage of entire rest of the world's economic activity?

CyberDildonics 6y ago
The lightning network is very tested, it just isn't used because it is a nonsense idea that no one wants.
- rfd4sgmk8u 6y ago
  Why do you assume nobody wants it? It works fine. Some people use it every day. It is new and unproven over time. People were saying bitcoin was a nonsense idea no one wants at one time too. I acknowledge you don't like bitcoin, but assuming others don't is a bad position.
  - CyberDildonics 6y ago
    The difference is that the people originally saying bitcoin was nonsense didn't understand it and the people saying lightning is nonsense are the people that do understand it. Why would someone use a secondary layer on top of $28 average transaction fees and 10 minute block times when they could use any other cryptocurrency and transact for almost nothing on the real chain?
    - shawnz 6y ago
      > The difference is that the people originally saying bitcoin was nonsense didn't understand it and the people saying lightning is nonsense are the people that do understand it. You don't think that anti-cryptocurrency people weren't saying the same thing a few years ago (or even now)? Of course everyone believes that they are the ones who truly understand the situation and all their opponents are the ones who are wrong. > Why would someone use a secondary layer There are tradeoffs to increasing the block size/rate. If the market overwhelmingly believed that Bitcoin was doing it wrong then they could easily move to one of those other coins. Maybe Bitcoin does have it wrong, but I don't think it's obvious like you are implying.
      - CyberDildonics 6y ago
        This isn't a matter of understanding a "situation" it is a matter of understanding technology. Cryptocurrencies do work in general on a technical level. They have unique properties of ideal money that separate them from other forms of money and that makes them valuable is a very broad sense. Bitcoin crippled itself intentionally to keep its throughput at a few transactions per second for the entire world and less data than a 240p youtube video. > There are tradeoffs to increasing the block size/rate. This is what people say when they haven't looked at real numbers and are just repeating propaganda. Users don't need to sync with the blockchain. Average transaction fees were $28 a few days ago while the entire bitcoin blockchain takes up $6 of hard drive space. The average blocksize is less than 900KB. 900KB every 10 minutes. That's 1.5KB/s. That's dial up speed. www.reddit.com would take 36 minutes to load at that speed. > If the market overwhelmingly believed that Bitcoin was doing it wrong then they could easily move to one of those other coins "The market" is detached from technology. No one is really using bitcoin or taking their balance out of exchanges with $28 transaction fees. They are moving to other coins, that is absolutely what has happened as a result. > Maybe Bitcoin does have it wrong, but I don't think it's obvious like you are implying. It's pretty obvious with grade school math.
        deleted 6y ago
        [deleted]

CyberDildonics 6y ago

The lightning network is very tested, it just isn't used because it is a nonsense idea that no one wants.

rfd4sgmk8u 6y ago
Why do you assume nobody wants it? It works fine. Some people use it every day. It is new and unproven over time. People were saying bitcoin was a nonsense idea no one wants at one time too. I acknowledge you don't like bitcoin, but assuming others don't is a bad position.
- CyberDildonics 6y ago
  The difference is that the people originally saying bitcoin was nonsense didn't understand it and the people saying lightning is nonsense are the people that do understand it. Why would someone use a secondary layer on top of $28 average transaction fees and 10 minute block times when they could use any other cryptocurrency and transact for almost nothing on the real chain?
  - shawnz 6y ago
    > The difference is that the people originally saying bitcoin was nonsense didn't understand it and the people saying lightning is nonsense are the people that do understand it. You don't think that anti-cryptocurrency people weren't saying the same thing a few years ago (or even now)? Of course everyone believes that they are the ones who truly understand the situation and all their opponents are the ones who are wrong. > Why would someone use a secondary layer There are tradeoffs to increasing the block size/rate. If the market overwhelmingly believed that Bitcoin was doing it wrong then they could easily move to one of those other coins. Maybe Bitcoin does have it wrong, but I don't think it's obvious like you are implying.
    - CyberDildonics 6y ago
      This isn't a matter of understanding a "situation" it is a matter of understanding technology. Cryptocurrencies do work in general on a technical level. They have unique properties of ideal money that separate them from other forms of money and that makes them valuable is a very broad sense. Bitcoin crippled itself intentionally to keep its throughput at a few transactions per second for the entire world and less data than a 240p youtube video. > There are tradeoffs to increasing the block size/rate. This is what people say when they haven't looked at real numbers and are just repeating propaganda. Users don't need to sync with the blockchain. Average transaction fees were $28 a few days ago while the entire bitcoin blockchain takes up $6 of hard drive space. The average blocksize is less than 900KB. 900KB every 10 minutes. That's 1.5KB/s. That's dial up speed. www.reddit.com would take 36 minutes to load at that speed. > If the market overwhelmingly believed that Bitcoin was doing it wrong then they could easily move to one of those other coins "The market" is detached from technology. No one is really using bitcoin or taking their balance out of exchanges with $28 transaction fees. They are moving to other coins, that is absolutely what has happened as a result. > Maybe Bitcoin does have it wrong, but I don't think it's obvious like you are implying. It's pretty obvious with grade school math.
      - deleted 6y ago
        [deleted]