Lightning Network Should Be Ready This Summer

darkangel11

legendary

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Defend Bitcoin and its PoW: bitcoincleanup.com

Quote from: Ryan Dugan on December 22, 2017, 12:22:57 PM

Oh? Now I am sad Sad

I thought LN would be the solution. I am worried about how this high fee business will effect bitcoin. If the high fee problem was solved then bitcoin will skyrocket in price. What is going to happen to bitcoin I am worried.

It seems like you haven't understood the articles or even the posts you've quoted. There's no reason to be sad. Lightning network is already open for testing and you can participate if you like. This post 2 years ago was a great sneak peak of the following year that pushed cryptocurrencies beyond limits and made many people filthy rich.
Right now the network got clogged by idiots who are outbidding one another, trying to get into the first block confirmation. All we can do is wait for them to run out of money.

Ryan Dugan

hero member

Activity: 924

Merit: 501

Quote from: OmegaStarScream on December 21, 2017, 07:51:14 AM

Quote from: Xavofat on December 21, 2017, 05:57:29 AM

Even if there is a functional version of the Lightning Network by the summer, it'll take dramatically longer before it's actually implemented into the majority of major wallet services and the majority of users are using it for their regular transactions.

SegWit was activated months ago, and there has been a fair few functional wallet implementations, yet the biggest services still haven't implemented it, so most transactions are still legacy transactions.

It also might take even longer before users understand what they're doing.

The article was in 2016 so they were referring to the last years summer. I doubt LN will be like SegWit anyway, there are already plenty of wallets (Zap, Eclair etc.) under development so we don't need to wait for current wallet providers to develop it.

Oh? Now I am sad Sad

I thought LN would be the solution. I am worried about how this high fee business will effect bitcoin. If the high fee problem was solved then bitcoin will skyrocket in price. What is going to happen to bitcoin I am worried.

Cryptoflake

newbie

Activity: 4

Merit: 0

yeah.. this is an old article, anyway there are some very good news considering L.N.

check it out:
https://bitcointalk.org/index.php?topic=2621873.new#new

icanscript

hero member

Activity: 686

Merit: 502

This news is the year!
Why raise the old stuff.
In the test mode, the lightning network is working now. I hope to implement it in the bitcoin network in the coming months.

Dolarin

full member

Activity: 294

Merit: 100

This is just great news! Once ready Lightning Network bitcoin will fly to the moon!

OmegaStarScream

staff

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Merit: 6065

Quote from: Xavofat on December 21, 2017, 05:57:29 AM

Even if there is a functional version of the Lightning Network by the summer, it'll take dramatically longer before it's actually implemented into the majority of major wallet services and the majority of users are using it for their regular transactions.

SegWit was activated months ago, and there has been a fair few functional wallet implementations, yet the biggest services still haven't implemented it, so most transactions are still legacy transactions.

It also might take even longer before users understand what they're doing.

The article was in 2016 so they were referring to the last years summer. I doubt LN will be like SegWit anyway, there are already plenty of wallets (Zap, Eclair etc.) under development so we don't need to wait for current wallet providers to develop it.

Xavofat

hero member

Activity: 938

Merit: 559

Did you see that ludicrous display last night?

Even if there is a functional version of the Lightning Network by the summer, it'll take dramatically longer before it's actually implemented into the majority of major wallet services and the majority of users are using it for their regular transactions.

SegWit was activated months ago, and there has been a fair few functional wallet implementations, yet the biggest services still haven't implemented it, so most transactions are still legacy transactions.

It also might take even longer before users understand what they're doing.

daweller

member

Activity: 68

Merit: 10

Still waiting Sad

Denker

legendary

Activity: 1442

Merit: 1014

According to co creator Joseph Poon, a functional version of Lightning Network should be ready this summer.
That is some great news imo. Even if this should be delayed it shows the guys are working really hard on it and it's not just some theoretical construct like some here have always claimed.
So SegWit is right around the corner, Lightning is on the way as well and Halving is coming closer.Bullish?

http://coinjournal.net/lightning-network-should-be-ready-this-summer/

Quote

“We are currently testing Lightning against SegNet. Tadge Dryja and Olaoluwa Osuntokun have been integrating Segregated Witness in our software. In fact, I believe Tadge was the first person to make a witness block larger than 1MB on SegNet 3 when testing the mempool.”

“A basic, functional version of Lightning Network should be ready when the Segregated Witness soft-fork goes live on Bitcoin, presuming it gets merged and activated this Summer. Hopefully it gets in this Summer, as this will enable entirely new decentralized use cases for Bitcoin which were not possible before on any financial system due to custodial risk underwriting.”

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