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/biz/ - Business & Finance

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8745342 No.8745342 [Reply] [Original]

Just your daily reminder, lightning network can not work.

will ETH plasma work? idk
will xlm/ripple work? idk
will nano work? idk
will big blocks work? long term nope

>> No.8745379

>>8745342
You again?
Didn't I btfo this chart yesterday?
Oh yeah I forgot, you're not a cashie, you just post inaccurate LN fud every day for the lulz

>> No.8745405

>>8745379
t. deluded corecuck

>> No.8745441
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8745441

>>8745405
Glad to see you've stopped pretending to be neutral Roger.

>> No.8745489

>>8745441
I wonder how much time he spends shilling on 4chan

>> No.8745679

>>8745379
no, you didn't.
You proved they put in a limit where you can only spend 25% of what is in a channel.

Which is my point. You can't spend large amounts on LN. you'd be lucky to get 25% in real world conditions

>> No.8745756
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8745756

check out the bitcoin NG academic paper. using microblocks to reach 1000tx per second. This is how WAU Coin thats out now, and the upcoming NUMA work so well

>> No.8745765

>>8745679
oh fuck bros, you can't send huge amounts of money on LN, so you'll have to use a mainnet TX.
>ahhhhhhhhhhhhhh its all over ahhhhhhhhhhhhhhhhh give it up bros we can't do it ahhhhhhhhhhhhhhhhhhhhh

>> No.8745783

>>8745379
Get the fuck out with your garbage LN, come back when the devs stop losing coins on the testnet

>> No.8745796
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8745796

>>8745765
>Using a mainnet TX

>> No.8745819

>>8745765
>so you'll have to use a mainnet TX.
Mainnet is unsustainable for heavy usage. Fucking stuck transactions and $100 fees for the world's №1 cryptocurrency? Luckily enough everyone is abandoning BTC like a sinking ship, so even LN will be redundant in the future

>> No.8745930

>>8745819
with all the tiny bullshit going over LN, it won't be a problem using a normal tx.

>> No.8745981

>>8745930
you will only be able to use LN for literally coffee. anything more than $5-10 will fail as a transaction.

>> No.8746193

>>8745981
even if that weren't bs, so what?
all those tiny $10 tx's using LN will leave a shit ton of space in blocks for big tx's.
every single one of those tiny tx's still has the same information as a big one, its just moving less btc.
LN will make it possible to buy coffee with btc...

>> No.8746353
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8746353

>>8746193
8% of americans own crypto. That's 24 million.
BTC 1 MB blocks can handle 100 million transactions per year.

That's 5 tx per american per day.
The average american makes what, 1 transaction per day on average at least?

On chain can only scale to maybe 100 million users in the most optimistic case.

If people start using LN they'll be opening at least 5 channels so they can connect to everyone.
otherwise its pointless since they can't route.

So that brings us down to 20 million users max, allowing 5 channels opened per year with no on chain txs.

Gonna see lots of posts like this
>https://github.com/ElementsProject/lightning/issues/1274
When people try to do a tx more than $5

>> No.8746409
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8746409

>>8745679
>You proved they put in a limit where you can only spend 25% of what is in a channel.
Everyone knows lightning network channel being over a dollar defeats the purpose of the network according to the whitepaper

>> No.8746484

>>8746409
ohhh got it, useless by design.
i admittedly didn't see that one coming

>> No.8746891

>>8745342
this is unironically the sanest post of /biz/. but for both moonkids and r/buttcoiners, ignoring reality is paramount to their self-esteem

>> No.8746914

>>8746353
>BTC 1 MB blocks can handle 100 million transactions per year.
you assume the blocks will always be at 1mb which contrary to the memes is literally not true.
even now blocks can be almost 2MB with segwit.
even lukejr wants to increase the block size to 31MB over time...

>5tx/day
>5 channels a year
why will people be opening 5 channels a year, and not just 5 channels ever with a few more here and there.
there is no reason to open and close channels all the time. you can keep them open and get the money out other ways.

>gonnna see posts like this...
oh fuck man there was a bug during development of a software project for which they're already working on solutions!!!!
scrap it.
its over.
do the easy way and forget about it.

>> No.8747051

your LN coin is only down 8.81% today

>> No.8747403

>>8746914
so bcrashies were right? why not just increase it to 4-8 MB for now?

It's certainly long overdue

>> No.8747850

>>8745783
#Rkd
Aka never

>> No.8747904

>>8745342
>will big blocks work? long term nope
You can't prove that but you CAN prove everything else that you assert.