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18893521 No.18893521 [Reply] [Original]

If LN is real I should be able to receive 1$ to send without insane fees.

>> No.18893539
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18893539

LN doesn't actually work.
They're all just hoping they can dump on you.

>> No.18893561

yes it works. just not enough people are using so it won't be necessary until btc is over 300k-400k. at that point going to usd is pointless just spend sats through LN.

>> No.18893590

>>18893561
People are paying insane fees already.
Yet nobody is using LN.
None of the exchanges have even bothered to implement it.

>> No.18893603
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18893603

>>18893521

He actually thought LN would ever work

>> No.18893642

>>18893603
It's fucking 2020 and Bitcoin doesn't have anything to show for the years of bear.
It's the star citizen if crypto.

>> No.18893690

>>18893521
Make an invoice for 1000 sats and I'll show you it works

>> No.18893732
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18893732

>>18893690
Ok

>> No.18893790

1 BTC is still 1 BTC.

>> No.18893973

>>18893521
ok OP, I'll make a list of things kind of explaining why LN will not replace on-chain transaction, and if it is ever usable for anything, it'll be microtransaction. like for streaming etc, where you pay per second watched.

The first huge problem is UX. To be able to recieve money (without a custodian that runs your nodes for you) you need to always be online, and connected with peers that have enough channel liquidity. You want your salary for working at mcdonalds? better spin up a home node you dumbass. not just download an app. you need to maintain uptime, with funds in a channel (if you want to use the money that is). The average bob is a brainlet and will never manage to do this. They'll have to go through a custodian to manage their nodes, channel liquidity, and connection to peers and services. At this point, why are you even using Bitcoin? This is no different than than the current system. LN will not be something normal people use. Its hard enough to get normies to even use BTC on it's own.

This will lead to a "hub and spoke" model, where users are all connected to few big companies running nodes, which kick the "decentralization!!!!!" in the nuts. these will probably be required to collect KYC information and deliver said information to governments.

There's also the fact that LN is using a reactive security model. If someone tries to cheat, you have to be online to catch them in the act. if you have downtime, good luck buddy. It sounds cool that if someone tries to cheat, you get their money, however, you need to be online to catch them, as well as pay a quick fee to make the onchain transaction to take the funds, before your peer can react. With BTC, fees have been over 2 dollars, and with the halving comming, onchain activity will possibly rise.

The 1MB limit is fucking horrible and will never be enough for any meaningful adoption.

>> No.18894011

also watch these

Decentralized Thought:
https://www.youtube.com/watch?v=UYHFrf5ci_g&list=PLtPKd6Dr2gEzc2a5cvEVBeI3cb2qZkkg2

Rick Falkvinge:
https://www.youtube.com/watch?v=DFZOrtlQXWc

https://www.youtube.com/watch?v=AzaEd2RQuRw

>> No.18894049

>>18893590
Because of the tied user experience is difficult as fuck. Nobody want to re-learn everything to pay something. Like what the fuck is a payment receipt? Why would I want to scan a QR code for connecting to a channel? LN just can't work.

>> No.18894108

>>18893521
I love bitcoin but using Bitcoin to transfer funds around when there's ETH is just silly. Store some dough in BTC sure, but don't pay with it. That's like trying to use the iPhone 1. I keep it for my grandchildren to donate to a museum.

>> No.18894131

>>18893642

The only Bitcoin that could possibly have a chance is BCH or BSV. BTC is already dead.

>> No.18895340

>>18893521

What a fuckin disaster

5 years and nothing to show for it

>> No.18895510

LN works and mobile wallets are already pretty easy to use. Try Breez

>> No.18895569
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18895569

>>18895510

you still have to depend on other people's liquidity, which is dumb as fuck. Your friend doesnt have enough money so you can't pay me. oops, 5 dollar transaction fee

>> No.18895956

LN is shit.

there is more wrapped btc as an erc20 token flying around than liquidity in LN.

the fucking hashtag is #reckless, even the devs dont recommend sending more than 5 dollars via lightning...


BTC is a dead man walking.

>>18894131
BCH? really? devs asking for donations.... I mean tax. No way, that chain is on death row too.

BSV... objectively the only coin that scales NOW, objectively the only protcol that will not fucking backstab you if you build on it now, since muh set in stone.Objectively the network with the biggest PR shitshow going around. Craig, sign or gtfo and stay in the basement doing your plumbing work.


> t. all in bsv, low downside, humongous upside

>> No.18896023
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18896023

>>18895956
I wholeheartedly agree that ABC trash.

Still like BU and the new BCHN, which actually is a lot better than ABC is kek.

>> No.18896036

>>18896023
abc IS trash

fuck me

>> No.18896713
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18896713

>>18893521
Jesus Christ.
Liquid Nitrogen is a blockcoin now?
What will stop this madness.

>> No.18897027

>>18893521
LN isn't even the same thing as bitcoin. its basically vaporware at this point. I hope it can materialize though as i'm holding a decent amount of btc and i think it will be good for the price

>> No.18897082
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18897082

>>18897027
LN will never work, BTC is doomed. picrel

>> No.18897122

>>18893521
Use Nervos.

>> No.18897139

Why did i get fucked up last night. Why

>> No.18897190

>>18893521
It's unironically fucked. I don't know what the exact problem is but network growth has been stagnant for almost a year now. There is some technical problem they aren't able to solve.

>> No.18897628

>>18897082
So you are telling me to buy alts? I've got 3 BTC remaining which should I buy? ALGO LOKI LTO?

>> No.18898145

>>18897628
no, Im telling you to buy bsv and hodl through the PR shitshow that is going on. The market already decided that 80USD is multiyear support even through all the shittalking that everybody is throwing at it, and that was before it now finally scales.

>> No.18898167

>>18897628
or at least buy yourself 3 BSV, so that you are nominally hedged.