Topic: I think the potential for Bitcoin is ONLY JUST BEGINNING. (Read 1292 times)
I think we have far to go as well, but we can only go there if we make technical upgrades to the system. Until we pass segwit and pave the way for lightning network im just sitting back and staying out of the bitcoin news.
Yes, this is just the beginning. We all know that. I've asked one of my customers to pay me with BTC, and he didn't want to. I've tried to buy a used car with BTC, but the guy wanted cash. And my mother still doesn't believe in BTC.
There's a long way to go before all those people will change their mind, but I don't see any action coming from SegWit activation (if ever). The network will work better, and there should be no more delays, but the average user won't notice anything.
There's a long way to go before all those people will change their mind, but I don't see any action coming from SegWit activation (if ever). The network will work better, and there should be no more delays, but the average user won't notice anything.
Segwit needs 95% approval from miners(never going to happen) and only solves blocksize issues short term.
Segwit solves it long term because it enables for proper Lightning Network usage, which is the only way to scale to mainstream levels.
Lightning would take at-least 4-5 years to get activated. Also, it's an off-chain solution not on-chain solution which Satoshi advocated for. This means value spilling over from BTC into other more transact-able alternative currencies.
Block reward halving is a part of the Bitcoin algorithm that defines how the currency is supplied. Whereas in banks, they can issue currency at any amounts they so desire.
It has little to do with scaling, it's one of the things that makes Bitcoin decentralized.
The increasing volume of on-chain transactions (and therefore the fees) will (or at least should) compensate for the decaying block rewards. Which is why on-chain scaling is plausible.
PS: I do not support either SegWit or Unlimited, will support whichever wins.
Segwit needs 95% approval from miners(never going to happen) and only solves blocksize issues short term.
Segwit solves it long term because it enables for proper Lightning Network usage, which is the only way to scale to mainstream levels.
Lightning would take at-least 4-5 years to get activated. Also, it's an off-chain solution not on-chain solution which Satoshi advocated for. This means value spilling over from BTC into other more transact-able alternative currencies.
So people advocate that everything should be done on-chain and free, they are more than welcome to start their own service, build mining farm and donate their money.
Block size is a resource and it sooner or later will be monetized in one way or another.
1) Eliminate BUg
2) Wait for SegWit
3) Get rich
2) Wait for SegWit
3) Get rich
We still gonna see a lot from bitcoin, the attacks are not gonna stop but the bitcoin community is very dedicated and I also see bitcoin taking over in the next 5 to 20 years, this is just one of those major tests on bitcoin
funny part is LN could function without segwit.
but by making LN reliant on segwit causes a few issues
1. people scrambling to move funds over to segwit keys.
2. if there was a downgrade requirement to resolve a bug all them segwit keys become anyonecanspend transactions
3. such downgrade also makes LN malfunction
segwit does not stop malicious attacks its,, to use an analogy
just a gun amnesty where if people move to a different neighbourhood handing in their guns they get a bigger apartment to live in.
problem is nothing has been done about the law enforcement (code) to actually stop gun crimes for those driving around the streets(network)
but by making LN reliant on segwit causes a few issues
1. people scrambling to move funds over to segwit keys.
2. if there was a downgrade requirement to resolve a bug all them segwit keys become anyonecanspend transactions
3. such downgrade also makes LN malfunction
segwit does not stop malicious attacks its,, to use an analogy
just a gun amnesty where if people move to a different neighbourhood handing in their guns they get a bigger apartment to live in.
problem is nothing has been done about the law enforcement (code) to actually stop gun crimes for those driving around the streets(network)
Segwit needs 95% approval from miners(never going to happen) and only solves blocksize issues short term.
Segwit solves it long term because it enables for proper Lightning Network usage, which is the only way to scale to mainstream levels.
Lightning would take at-least 4-5 years to get activated. Also, it's an off-chain solution not on-chain solution which Satoshi advocated for. This means value spilling over from BTC into other more transact-able alternative currencies.
SegWit for the bitcoin malleability fixed with a lot of benefits.
Segwit only solves the problem temporarily...There has been yet a good proposal to scale bitcoin longterm.
Segwit can enable other updates to Bitcoin, so probably it is the start of Bitcoin scaling. Increasing blocksize will only solve the problem temporarily until network is congested again and needs to increase again which result in hardfork after hardfork.
Segwit only solves the problem temporarily...There has been yet a good proposal to scale bitcoin longterm.
Yes, Segwit paves the path for the lightning network. It will be somewhat different from the Bitcoin we're used to, but basic elements remain the same.
Segwit needs 95% approval from miners(never going to happen) and only solves blocksize issues short term.
Segwit solves it long term because it enables for proper Lightning Network usage, which is the only way to scale to mainstream levels.
Lightning would take at-least 4-5 years to get activated. Also, it's an off-chain solution not on-chain solution which Satoshi advocated for. This means value spilling over from BTC into other more transact-able alternative currencies.
I disagree with you. Bitcoin has always been a leader and so will be for a long time. It is higher than alternative coins. And the difficulties that he is now experiencing - it's just temporary
Times are tough at the moment. Tensions are running high.. BUT..
Don't Panic.
Hang in there.
We are soooo close now..
On tough times like this just play with few alts and multiply your bitcoin.Don't Panic.
Hang in there.
We are soooo close now..
Yes don't panic, buy more when price dumps hard. We all know bitcoin price will pump again after every correction.
Yes, Hold your bitcoin tight.
We are only 8 months away from the real action.
Segwit needs 95% approval from miners(never going to happen) and only solves blocksize issues short term.
Segwit solves it long term because it enables for proper Lightning Network usage, which is the only way to scale to mainstream levels.
Lightning would take at-least 4-5 years to get activated. Also, it's an off-chain solution not on-chain solution which Satoshi advocated for. This means value spilling over from BTC into other more transact-able alternative currencies.
Segwit needs 95% approval from miners(never going to happen) and only solves blocksize issues short term.
Segwit solves it long term because it enables for proper Lightning Network usage, which is the only way to scale to mainstream levels.
Segwit needs 95% approval from miners(never going to happen) and only solves blocksize issues short term.
We are 1 soft fork away from serious power..
WHEN we activate SegWit (Nov 15 at the latest. BIP148) - is when the real action starts.
A lot of people panicing and jumping ship toinferior other coins. Let them.
The GENERAL PUBLIC knows of only 1 coin. Bitcoin. If you think they'll switch to another coin, forget it. Far too confusing..
The MARKET has made it abundantly clear that SegWit + LN is the way to go.. (Price goes UP when CORE do well, price tanks when BU scramble)
..
Times are tough at the moment. Tensions are running high.. BUT..
Don't Panic.
Hang in there.
We are soooo close now..
WHEN we activate SegWit (Nov 15 at the latest. BIP148) - is when the real action starts.
A lot of people panicing and jumping ship to
The GENERAL PUBLIC knows of only 1 coin. Bitcoin. If you think they'll switch to another coin, forget it. Far too confusing..
The MARKET has made it abundantly clear that SegWit + LN is the way to go.. (Price goes UP when CORE do well, price tanks when BU scramble)
..
Times are tough at the moment. Tensions are running high.. BUT..
Don't Panic.
Hang in there.
We are soooo close now..
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