Topic: SegWit and LN are really interesting altcoins... but that is not Bitcoin. - page 5. (Read 3571 times)

i made no mention of mining.. are you that deluded to not even read the content of posts!!
LN is just about SIGNING
Liquid is an altcoin. and guess what there is no mining involved in that
Ripple is an altcoin.. and guess what.. yep, again no mining
NXT is an altcoin.. and guess what.. yep. again no mining


really wonder what drugs ur taking.. to even think mining even ever came into the debate about LN

and as for the inflation/deflation.. you have again lost the plot..
adding more units into circulation is called inflation... renaming a certain allotment of units to hide the more units in circulation doesnt change anything.

wake up!!

and its only been you that has shown desire to add more units of measure..
sorry but go play with infinity coin if you want more units of measure.

smart people dont want to screw with bitcoins unit of measure cap (coded as 2,100,000,000,000,000 satoshis)

This pretty much explains why is an asshole like the whole bunch of those idiots at Blockstream trying to own bitcoin via the liquid bullshitery.

Show us the link you checked.

See, you've been working on that post for a whole hour, haven't you?



Problem: there are no LN miners to mine this imaginary Lightning blockchain that you're making up. 2nd layer != different chain



And I love the early part of your post where you (in effect) admit your BS: any increase in granularity is not going to inflate the supply. Increasing the divisibility of a money is called monetary deflation.

So, Franky, the Bitcoin supply will increase by exactly zero, just like I said. Any more bullshit?

I checked Carlton Banks paid Blockstream shill

bitcoin has
2,100,000,000,000,000 units of measure called satoshi's
at the front end GUI (human decision after the fact) humans call
100,000,000 units...  1btc (one bitcoin) but this is just GUI display. not codebased

blockchains LN has
2,100,000,000,000,000,000 units of measure called millisats
at "instant payment" level LN calls
100,000,000,000...  1btc (one bitcoin) but this is just GUI display. not code based

signing an LN payment to give someone 100,000,000,000millisats which LN deems to be 1btc
ends up with a signature and txid that is not the same as a bitcoin tx of 1btc

thus it gets rejected

EG
on bitcoin you deposit
100,000,000sats (called 1btc)
then using a totally different node you are credited with
100,000,000,000millisats (called 1btc but this is just GUI display. not code based)

you trade and sign transactions in millisats. knowing that those signed transactions will get rejected by bitcoin.

the only way to settle back on bitcoin is to create a bitcoin compatible transaction by destroying the millisats and then separately agreeing to satoshi amounts the peers think each other deserves from the earlier bitcoin deposit done before even using LN. and sign it as a bitcoin transaction

again playing with millisats on a different codebase/node, which blockstreams LN is. where its promised a 1sat:1000millisat peg
is the same as playing with moneros codebase/node, where someone promises you a 1btc:1000monero peg

How in the world is it that the mods don't ban you? 

You are garbage man.  Pure, unadulterated stinking garbage. 

How about if you argue the science instead of calling names?

What, the thousands of people who have you on ignore?


How many extra BTC, millibits, satoshis, or millisats are going to be added to the 21 million maximum? How can they possibly be added if they're for an altcoin, as you claim further up the thread? You've lost it, Franky lol

as discussed before..
bitcoin should not even propose to extend the units of measure.

it is however ONLY YOU that is trolling to suggest bitcoin should extend.

but staying in reality!!!
while bitcoin does not have any extra units of measure and where i and thousands of others agree should never change.
a blockstream LN signed payment is not compatible with bitcoin.

have a nice day

How many millisats will the Bitcoin 21 million limit be inflated by? It's zero, isn't it?

we both know ur just trolling.
here is the conversations we both know about

https://bitcointalksearch.org/topic/first-bitcoin-lightning-network-transaction-tested-successfully-1642269

no point repeating your failed arguments

You've got the insider knowledge on this one Franky, do tell us:

How many millisats will Blockstream be adding to the Bitcoin monetary base? How many, what number?

much like saying monero can't exist on the blockchain until the Bitcoin code allows it. so there are no monero to be incompatible with. And no, deflating the monetary base by adding monero is not the same thing as inflating it, for the trillionth time

satoshis code is that there are ever going to be 2,100,000,000,000,000 units of measure called satoshi's(in code) and then ONLY FOR GUI PURPOSES will an allotment of 100,000,000 be defined as a bitcoin. again only at GUI level.

adding more units does multiple things. it extends when mining for a blockreward will cease. (from 2141 to 2181)
please learn things before defending blockstream using their PR. because their PR lacks realistic facts.

all you seem to do all day is defend blockstream while saying bitcoin needs to get screwed around with to fit blockstreams vision

Exactly. Satoshi himself could spend the Bitcoins he mined in 2009-10 to launch the Bitcoin network, using either a Lightning channel or a Segwit address. And if he wanted to send that BTC back to a traditional address, he could do that too.



OP is a shit talking idiot, QED

a bitcoin in mined in 2009 can be spent on the post segwit blockchain should it be activated in my mind that means it's not an alt. if enough people agreed on bitcoin unlimited or whatever they're spewing out right now then that would be the chain and it wouldn't be an alt either.

a non alt is the longest bitcoin blockchain used by the most people.

I do.


No, that sentence doesn't even make proper sense. Millisats can't exist on the blockchain until the Bitcoin code allows that amount of granularity, so there are no millisats to be incompatible with. And no, deflating the monetary base is not the same thing as inflating it, for the trillionth time

you know its millisats. you know they are not compatible with bitcoin.. you did not gain amnesia in the last 48 hours.
so all i can assume is your just baiting another debate because you have nothing to do with your life.

have a nice day

learn LN or dont talk about LN

No, you are redefining known terms and systems.

Omni/Mastercoin are separate coins with separate blockchains that are mined and secured by non-bitcoin miners.
These are altcoins.

SegWit is a Bitcoin protocol proposal.
Bitcoin protocol is not static and changes with each new version.
Protocol does not equal an altcoin.
An altcoin is a competitor.

Millibits. Hmmmm. I wonder why they're called that......

Great, then Omni/Mastercoin is also Bitcoin and CounterParty is also Bitcoin.  


SegWit is not the Bitcoin Blockchain.  The bitcoin blockchain is enforce by the protocol.  SeqWit is an alternative protocol.