Topic: [ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees - page 294. (Read 704531 times)

lol

Where did you get that from ? maybe you need to go back to school there is 2.61% how is this even close to 1/3 now it all makes sense why you are with BCH 

Um, your math is wrong...
fee=0.00026113
principal=0.00973887
0.00026113/0.00973887=0.02681317237
0.02681317237*100=2.681317237%
that is not 1/3

Actually I didn't bring it up i just started correcting mistakes then got told I should move it maybe because it shows everything that has been spread were in fact all lies

Like I said there is no locking up funds you can close the channel at ANY time and funds are available back to your wallet this is one I closed a bit earlier as an example

https://live.blockcypher.com/btc-testnet/tx/51022c876337e1975ab9fcb181574ea4250617b802b3033e19d151d8bdca16d7/

You are in very basic layman's terms just sending BTC from one wallet to a muiltisig wallet with lock time failsafe

If you broadcast the transaction state (your own personal cryptographically secured ledger) then the multisig balance is just moved back to your funding wallet at the final ratio and channel closed

The timelock failsafe is used for if say I broadcast my ledger balance and the other node refuses to close it for whatever reason or dies and is permanently taken off line then yes the funds are locked until the lock times out but it is not in their interest to refuse to close because if they do I could just claim everything back as my ledger is more up to date and they would lose everything.


All this is handled by the wallet in the background so you have your offline hardware or whatever wallet with all funds safe and secure and your online wallet with spending money


So you want to get some spending money so instead of sending to your  online wallet you sent to a LN address instead that's the only difference if thats too hard maybe you shouldn't be in crypto

The above is not 100% correct just a rough easy to understand roundabout way but that does not change the rules



Yes the mainnet software tools still need more testing to be as good as bug free as you can get but it's getting there fast

Clearly because the purpose is to derail discussion of Bitcoin Cash. Must be a part of Adam Back's admitted paid shill force.

"This video has been removed from YouTube for violation of terms of service"


Hmm. So it cost you either 1/3 or 2/3 of the value you had in the channel in order to close it. Let's presume 1/3 to be generous. We can therefor assume it likely cost another 1/3 to open it. So you spent 2/3 of your nut just opening and closing your channel. Gee - sounds great. Sign me up.
 

Edit: corrected gaffe.

Bruh, you seem smarter than all of this... and nice "did you mean Bcash" meme.

This LN crap is all so complicated, buggy, and useless. Sad to see intelligent people buying this load of horse manure.

As others have said, nobody wants to lock up funds and create channels and do KYC and watch their wealth evaporate the next time BTC plunges and they can't get out...

MSNBCBS actually redeemed themselves there!

Segwit is same its wallet based you use it identical to a legacy transaction there is no difference whatsoever to a end user apart from the raw transaction output the wallet generates is segwit or legacy

Why create a whole new thread just to say use the same as before all the hardware wallets now use segwit and more and more software ones do plus segwit is now merged to the core wallet so the next release will support it natively.

As for LN then like its been said the mainnet tools are not user friendly c-lightning has some bugs (the blockstream implementation hence the warning on using on mainnet) but LND and ACINQ seem to be reliable I have never had any issues with them and there does not seem to be and massive widespread bugs reported either

Face it a lot of what's been spread were all lies and if you look at the explorers you can see LN is in fact a mesh network like I said it would be NOT a hub and spoke like what was spread.

As for a node needing high liquidity this is also false as the transaction can be split over several routes so no 1 node needs to have the amount you want to send as the payment will just take several routes

LN uses onion routing like tor so the transaction is like a parcel with many layers that you pass to someone else they take of a layer and get the next address and pass it on and so on until it reaches its destination with no hop knowing anything about where its been as this information is discarded and where it's going as its not been unwrapped

If you don't want people posting about LN here don't post lies that need correcting


Also talk about censorship that little video I posted showing just how easy is was to close a LN channel has been reported to youtube and is pending review posted onny here as I just created it but I don't care in case it was not noticed it was a new channel just for that one video not MY channel as im not stupid enough to do that 

Just goes to prove how scared you all are though as ive NEVER seen as many lies being spread over the last few days from the BCH crowd around twitter etc and its all being proved wrong

^tbh m8, i just want this discussion on a proper thread..why dont you create one?
Keeps the segwet/lightning stuff away from from Bitcoin cash thread...and helps you teach the people that want to go segwet.

1. I use it therefore know how basic the experience is it's actually easier than sending a normal transaction as the receiver creates the invoice and all you do is scan and click pay  
2. I actually read the specifications


Just for you I closed out the 1 channel I had on testnet see how simple it it

https://www.youtube.com/watch?v=AltZ2WjGyx4

Is this what you call locking up the funds ?

https://live.blockcypher.com/btc-testnet/tx/51022c876337e1975ab9fcb181574ea4250617b802b3033e19d151d8bdca16d7/

The transaction output back to my wallet onchain to do whatever I need

ffs all you roger ver fans,,stfu pls lols
he owns old btc aswell, have you all forgot?

BCH is Bitcoin...old fork btc is blockstream coin...understand the facts please.

You dont need to because it wont be happening


1. Every developers wants the best for their coin

2. Roger Ver is the guy behind this coin

3. There are tons of other reason that BCH's exchange rate could be higher but sadly, it is nothing more than a centralized coin ( Atleast this is what my perspective is ). It will never be better than bitcoin

Where is this basic info you keep finding? please dont send me to reddit or twitter lol
What about the cost of opening and closing a channel?

https://www.reddit.com/r/btc/comments/7rs3km/i_have_studied_the_lightning_network_and_how_it/

This is the most centralized crypto which is overpriced by the group of people. Controled by one mining pool. Roger Ver approach is disgusting. He is always trying to abuse Bitcoin Core to promote Bitcoin Cash. Hey, look at you? You are multi-millionare because of thi Bitcoin Core, not because you forked and create you damn clone! It will remain clone of Bitcoin forever! I never bought any Bitcoin Cash and will never do! Even if it will overprice Bitcoin!

Sounds sooo myspace my dear.  Sad thing though...

Who did you ask because everything you said in wrong

1. Noobies don't need to understand anything the wallet will handle everything have you seen a signed Bitcoin transaction output how many do you think understand that over type amount and click send

2.Tie up what funds you can close the channel at any point and the funds are back on the block chain well actually there never left the chain

3. Hubs hold nothing everything is on chain you just keep a signed record of transactions that gets pushed back on chain when you close the channel that does another transaction with the latest balance to your funding wallet

If you can't find out basic information then no wonder you are so clueless to everything in future don't ask Roger

Guys as you may or may not know...its not easy finding info on this lightning stuff.
I have been looking at it more to see what the fuss is all about and tbh...ITS SHIT lol

The noobies and alot more barely understand basic crypto wallet-wallet stuff...how the hell does anyone expect them to learn about paychans and hubs aswell,lol.
Then the lightning network expects you to tie up funds in the network order to use it...NO chance people are going to do that in such a volatile market.
The LN expects businesses to adopt it, hold btc in hubs and provide liquidty for it (or something) ...again merchants have left and they will not come back to a system thats even more complex....
I could go on and on...
jeeezz i wish you guys(segweeters) discussed this sooner....created a thread , had a chat...because im 100% serious...LN IS SHIT.