[ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees - page 180.

Zin-Zang

member

Activity: 364

Merit: 13

Killing Lightning Network with a 51% Ignore attack

Quote from: European Central Bank on May 23, 2018, 05:14:32 AM

Quote from: Zin-Zang on May 23, 2018, 05:07:39 AM

No, I merely pointed out LN is not the only game in town.

you're comparing lightning networks to paypal. if lightning networks had the barest resemblance to paypal they wouldn't be worth discussing here and would not have been developed in the first place. i truly can't believe anyone who's been here a while would make this comparison.

lightning networks do have the potential for centralisation just as bitcoin or bcash does, but it's not baked in and people can work to make sure it's not a certainty.

Paypal process transactions thru their internal system.

LN process transactions thru their internal system.

Paypal requires a deposit of funds.

LN requires a Time Locking of Funds to act as a deposit.

Either way you have to withdrawal or wait for the time lock to end to get your funds.

Paypal can confiscate your funds.
LN Watch Towers can confiscate your funds, if an old transaction is broadcast.

So really no difference, both 3rd party processors, you have the illusion that LN can't take your funds , but in certain circumstances it can.
Research it, if you need proof.

Good Morrow.

European Central Bank

legendary

Activity: 1288

Merit: 1087

Quote from: Zin-Zang on May 23, 2018, 05:07:39 AM

No, I merely pointed out LN is not the only game in town.

you're comparing lightning networks to paypal. if lightning networks had the barest resemblance to paypal they wouldn't be worth discussing here and would not have been developed in the first place. i truly can't believe anyone who's been here a while would make this comparison.

lightning networks do have the potential for centralisation just as bitcoin or bcash does, but it's not baked in and people can work to make sure it's not a certainty.

Zin-Zang

member

Activity: 364

Merit: 13

Killing Lightning Network with a 51% Ignore attack

Quote from: European Central Bank on May 23, 2018, 05:03:50 AM

Quote from: Zin-Zang on May 23, 2018, 04:59:46 AM

Offchain scaling requires nothing more than a 3rd party that processes transactions in their own internal system that does not use a coin's blockchain,

wow. you've come up with a brand new system there that's gonna change the world. i know for a fact that the human race has been waiting for a centralised payment system controlled by a third party.

let me suggest a name. something friendly and something that implies money...

paypal?

yeah. that's a great name. good luck.

No, I merely pointed out LN is not the only game in town.
And yes, if paypal accepted crypto their internal transaction capacity would be offchain.

LN has no monopoly on offchain scaling, many are misled in these forums into believing it is, and that I would like to see corrected.

*Banks are a centralized 3rd party payment system, so humans have been and are using them.*
*Imagine that. * Wink

European Central Bank

legendary

Activity: 1288

Merit: 1087

Quote from: Zin-Zang on May 23, 2018, 04:59:46 AM

Offchain scaling requires nothing more than a 3rd party that processes transactions in their own internal system that does not use a coin's blockchain,

wow. you've come up with a brand new system there that's gonna change the world. i know for a fact that the human race has been waiting for a centralised payment system controlled by a third party.

let me suggest a name. something friendly and something that implies money...

paypal?

yeah. that's a great name. good luck.

Zin-Zang

member

Activity: 364

Merit: 13

Killing Lightning Network with a 51% Ignore attack

Offchain scaling requires nothing more than a 3rd party that processes transactions in their own internal system that does not use a coin's blockchain,
except when depositing or withdrawing into the 3rd party system.

Exchanges such as Cryptopia & Trade Satoshi already allow offchain transactions, which you just enter the username and the amount and send.
It works right now and has none of the limitations or complexities of LN.

Plus it works on any coin whether it be bitcoin core or bitcoin cash or litecoin.

The fallacy being promoted is that LN is the only way to process offchain transactions, nothing is further from the truth, any 3rd party can do it.

hv_

legendary

Activity: 2548

Merit: 1055

Clean Code and Scale

Quote from: bones261 on May 22, 2018, 09:41:12 PM

Quote from: Big Naturals on May 22, 2018, 08:55:36 PM

Quote from: bones261 on May 22, 2018, 07:47:44 PM

Quote from: Satosho Kakamolto on May 22, 2018, 01:05:48 PM

I didn't really understand what the new hard fork will change in Bitcoin Cash.

Enabled OPCODES. This should make programming smart contracts possible.
Block size limit is now 32MB instead of 8 MB.

Those two changes alone make bch flippening much more likely, and probably sooner than many realise.

Is there any project currently working on Bitcoin cash second layer scaling options similar to LN ?

Also, is there a viable Bitcoin cash version of counterparty?

IF/WHEN the flippening happens can bch accommodate these other technologies like LN without further updates like segwit?

BCH has to deal with the transaction malleability bug in order to implement something like LN, which relies on the transaction id to be fixed. (segwit fixed the transaction malleability bug.) However, someone may come up with a work around using the OPcodes. Or there may be another way to fix the transaction malleability. However, I think it is low priority for the BCH team to get BCH to scale by using off chain solutions.

Pls check what devs from yours.org have done here. They did not need any fixings of malleability (its not a bug...) or SW at all for a lightening like payment channel network on top of btc.

We need 'zero' fees, scarcity (do not allow more other coins to dilute cryptos), smooth apps and KISS for worldwide adoption and winning the competition with new fintechs like Revolut and co.

bones261

legendary

Activity: 1806

Merit: 1828

Quote from: Big Naturals on May 22, 2018, 08:55:36 PM

Quote from: bones261 on May 22, 2018, 07:47:44 PM

Quote from: Satosho Kakamolto on May 22, 2018, 01:05:48 PM

I didn't really understand what the new hard fork will change in Bitcoin Cash.

Enabled OPCODES. This should make programming smart contracts possible.
Block size limit is now 32MB instead of 8 MB.

Those two changes alone make bch flippening much more likely, and probably sooner than many realise.

Is there any project currently working on Bitcoin cash second layer scaling options similar to LN ?

Also, is there a viable Bitcoin cash version of counterparty?

IF/WHEN the flippening happens can bch accommodate these other technologies like LN without further updates like segwit?

BCH has to deal with the transaction malleability bug in order to implement something like LN, which relies on the transaction id to be fixed. (segwit fixed the transaction malleability bug.) However, someone may come up with a work around using the OPcodes. Or there may be another way to fix the transaction malleability. However, I think it is low priority for the BCH team to get BCH to scale by using off chain solutions. Being able to implement atomic swaps would be nice. However, Craight Wright seems to think that BCH will eventually replace all other crytopcurrencies. Everything else will only have very limited use cases, according to his vision.

Big Naturals

sr. member

Activity: 756

Merit: 268

Quote from: bones261 on May 22, 2018, 07:47:44 PM

Quote from: Satosho Kakamolto on May 22, 2018, 01:05:48 PM

I didn't really understand what the new hard fork will change in Bitcoin Cash.

Enabled OPCODES. This should make programming smart contracts possible.
Block size limit is now 32MB instead of 8 MB.

Those two changes alone make bch flippening much more likely, and probably sooner than many realise.

Is there any project currently working on Bitcoin cash second layer scaling options similar to LN ?

Also, is there a viable Bitcoin cash version of counterparty?

IF/WHEN the flippening happens can bch accommodate these other technologies like LN without further updates like segwit?

bones261

legendary

Activity: 1806

Merit: 1828

Quote from: Satosho Kakamolto on May 22, 2018, 01:05:48 PM

I didn't really understand what the new hard fork will change in Bitcoin Cash.

Enabled OPCODES. This should make programming smart contracts possible.
Block size limit is now 32MB instead of 8 MB.

Satosho Kakamolto

member

Activity: 70

Merit: 10

I didn't really understand what the new hard fork will change in Bitcoin Cash.

bitcoinPsycho

legendary

Activity: 2688

Merit: 2470

$120000 in 2024 Confirmed

Quote from: tomkat on May 22, 2018, 11:17:44 AM

Quote from: addicto on May 22, 2018, 08:14:02 AM

I have special offer for bitcoin community send me only 1 BTC and in return you will get 2 BCH on this Bitcoin Pizza day. If you have strong believe in future of BCH than giveaway your BTC to other people and start collecting BCH on this previous day.

What's so special in your offer? Anyone with strong believe can buy 7 BCH for 1 BTC now

I've got a better offer ... I will swap you 1/1 bch for BTC

jojo69

legendary

Activity: 3388

Merit: 4775

diamond-handed zealot

when pump?

tomkat

hero member

Activity: 1022

Merit: 507

Quote from: addicto on May 22, 2018, 08:14:02 AM

I have special offer for bitcoin community send me only 1 BTC and in return you will get 2 BCH on this Bitcoin Pizza day. If you have strong believe in future of BCH than giveaway your BTC to other people and start collecting BCH on this previous day.

What's so special in your offer? Anyone with strong believe can buy 7 BCH for 1 BTC now

addicto

legendary

Activity: 1526

Merit: 1012

I have special offer for bitcoin community send me only 1 BTC and in return you will get 2 BCH on this Bitcoin Pizza day. If you have strong believe in future of BCH than giveaway your BTC to other people and start collecting BCH on this previous day.

neutraLTC

legendary

Activity: 1492

Merit: 1021

hey OP any chance you can add the blockchain explorer BCH.BTC.com to your blockexplorer list? Thanks !

hv_

legendary

Activity: 2548

Merit: 1055

Clean Code and Scale

Quote from: OWZ1337 on May 21, 2018, 08:02:08 PM

Quote from: hv_ on May 21, 2018, 04:31:05 PM

Quote from: OWZ1337 on May 21, 2018, 03:30:57 PM

Quote from: lsd400 on May 21, 2018, 12:57:33 PM

So much news on HK conference I this tokenizing is really cool. Not sure all those altcoins would survive once BCH start deploying it.

old bitcoin feature already live ~ sorry to break it to ya Wink

lol

Cheap fees, no limits and high adoption, yep.

Feels 2012!

Wink

no one wants chinese copys of bitcoin ~ BTI is the original BTC fork(*circa 2014) ~ nothing you can say will ever change this fact!!

Sure/s

Thats why you found some inner, aching pressure to post that for all who doesnt need it, make sense... Lol

https://www.cnbc.com/2018/05/21/crypto-investor-brian-kelly-makes-the-case-for-bitcoin-cash.html

OWZ1337

member

Activity: 140

Merit: 17

BITCOIN===>THE DISRUPTIVE CYBERCURRENCY

Quote from: jbreher on May 21, 2018, 08:43:05 PM

Quote from: OWZ1337 on May 21, 2018, 08:02:08 PM

look its starting to pump too ===> BTI/BTC : +11.06%

Mmmm hmmm... mmm hmm. On a 24 hour volume of 0.00577 BTC.

NeilDeGrasseTysonLookOutWereDealingWithABadassOverHere.png

Roll Eyes

proof of organic~from the earth our revolt shall grow Wink

#0ccupyBTCitcoin

jbreher

legendary

Activity: 3080

Merit: 1688

lose: unfind ... loose: untight

Quote from: OWZ1337 on May 21, 2018, 08:02:08 PM

look its starting to pump too ===> BTI/BTC : +11.06%

Mmmm hmmm... mmm hmm. On a 24 hour volume of 0.00577 BTC.

NeilDeGrasseTysonLookOutWereDealingWithABadassOverHere.png

Roll Eyes

OWZ1337

member

Activity: 140

Merit: 17

BITCOIN===>THE DISRUPTIVE CYBERCURRENCY

Quote from: hv_ on May 21, 2018, 04:31:05 PM

Quote from: OWZ1337 on May 21, 2018, 03:30:57 PM

Quote from: lsd400 on May 21, 2018, 12:57:33 PM

So much news on HK conference I this tokenizing is really cool. Not sure all those altcoins would survive once BCH start deploying it.

old bitcoin feature already live ~ sorry to break it to ya Wink

lol

Cheap fees, no limits and high adoption, yep.

Feels 2012!

Wink

no one wants chinese copys of bitcoin ~ BTI is the original BTC fork(*circa 2014) ~ nothing you can say will ever change this fact!!

look its starting to pump too ===> BTI/BTC : +11.06%

https://freiexchange.com/market/BTI/BTC

hv_

legendary

Activity: 2548

Merit: 1055

Clean Code and Scale

Quote from: OWZ1337 on May 21, 2018, 03:30:57 PM

Quote from: lsd400 on May 21, 2018, 12:57:33 PM

So much news on HK conference I this tokenizing is really cool. Not sure all those altcoins would survive once BCH start deploying it.

old bitcoin feature already live ~ sorry to break it to ya Wink

lol

Cheap fees, no limits and high adoption, yep.

Feels 2012!

Wink

Topic: [ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees - page 180. (Read 704812 times)