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No, it doesn’t have scalability problem, neither privacy issues. I’m tired of saying always the same stuff. Do. Your. Own. Research. You already have did it,
by sMarsIntruder 3y ago
No, it doesn’t have scalability problem, neither privacy issues. I’m tired of saying always the same stuff.
Do. Your. Own. Research.
You already have did it, so that’s just bad faith.
- chasil 3y agoPlease enlighten us; how is this statement incorrect? "The maximum throughput is the maximum rate at which the blockchain can confirm transactions. Today, bitcoin's maximum throughput is 3.3–7 transactions/sec. This number is constrained by the maximum block size and the inter-block time."
- msgilligan 3y agoGoogle "Lightning Network". It allows for "off-chain" transactions that aren't included in the "7 tx/sec" limit.
- chasil 3y agoThe Lightning Network is in the Wiki's Stage 2 section: https://en.wikipedia.org/wiki/Bitcoin_scalability_problem#%22Layer_2%22_systems https://en.wikipedia.org/wiki/Bitcoin_scalability_problem#%2... "The Lightning Network requires putting a funding transaction on the blockchain to open a payment channel." Now, if we put the whole world on Bitcoin, how long does it take to open that channel? Days?
- msgilligan 3y agoValid point, but we are decades away from putting the whole world on Bitcoin. In those intervening decades lightning alternatives and/or derivatives will likely be developed that can allow the entire world to use Bitcoin.
- kylebenzle 3y agoYes, LN is a pretty dead idea from first principals since Blockstream hijacked the GitHub repo. But of course LN makes no sense if you just did what Satoshi said and incrementally increase the block size as needed, but then of course Blockstream cant sell you their SideChain(tm) products. The whole thing became really convoluted and dumb once Adam Back got involved.
- sMarsIntruder 3y agoYou should’ve started the discussion stating your personal drama with Adam Black so we wouldn’t waste our time.
- kylebenzle 3y agoSatoshi had the "solution" from day one, just incrementally increase the block size as needed, the road map BCH has chosen to follow, its really no big deal.