Pages:
Author

Topic: Segwit and the lightning network?? - page 2. (Read 1515 times)

legendary
Activity: 3514
Merit: 1963
Leading Crypto Sports Betting & Casino Platform
November 23, 2016, 12:19:53 AM
#7
Decrease the BlockSpeed or increase the Blocksize, both simple solutions that would fix the transaction issue overnight , that are being blocked by the greedy and the stupid in charge of BTC.

This is simply nonsense/propaganda - increasing the block size (or reducing the block speed) simply doesn't scale and anyone trying to say it does is either purposely misleading you or doesn't understand just what would be involved in scaling (anything much more than say ten times what can be handled now).

Unfortunately @OP this issue has mostly become about politics rather than practical solutions to the Bitcoin network.


and you are simply stupid,
 a Block only can contain a certain number of Transactions, increase the # of blocks in a given time frame and you increase your transaction capacity.

That is why BTC is so much in the shitter, you can't even understand the above comment would fix the issue.

The political response was yours, Mr BTC Religious Fanatic.

How in the world can you be a lead developer of anything and not understand simple math, are you on Drugs?
Go to rehab and get yourself together Ian.

 Cool

FYI:
http://www.coindesk.com/lower-bitcoin-block-time-scale/
Quote
The logic is simple: More blocks mean more transactions.

You really want to attack one of the most knowledgeable users on this forum? CIYAM will run circles around you, in a battle to see who knows the most about Bitcoin. While you busy, also explain to us how you going to handle the risks inherit to increased Block sizes, while you on the roll.

SegWit & LN is not the ideal solution, but it is better than a simple block size upgrade.
legendary
Activity: 1092
Merit: 1000
November 23, 2016, 12:15:57 AM
#6
kiklo, please explain how increasing the block size or speeding block times will help bitcoin compete with things like Apple Pay, the VISA network and so on.

Keep in mind the current capacity of bitcoin is 3-7 TX/sec. The competition is on the order of thousands of times higher capacity. Please explain your brilliant solution  using a larger block size or faster blocks (and how you will handle orphans, etc.) or any combination thereof.

In fact, since you are such a genius, please start your own altcoin with these solutions to show us poor dumb folks how it is done.


1st off it will never be able to complete with Visa on a Transaction basis head on,
However, using OffChain Transactions , it could compete , but the transactions would have to between large companies only as individual transactions are too many for it to ever handle.

A company would have to process the payments internally and only use the blockchain when it needed to be paid out of their internal network, this way to keep the majority of the transactions off of the blockchain.

Problem is BTC is unable to handle it's current load , so it would have to be increased before the offchain would just overload it.
If you are another one that can not understand  2 blocks in 10 minutes have twice the capacity as 1, you should check your self into rehab too.

Don't have to start my own coin, I joined with a group that already started one.
ZEIT with a 30 second blockspeed has 20X the transactions capacity of Bitcrap.

I know to you BTC religious fanatics , that makes no difference, but when people with reasoning skills read it , they will understand and hopefully avoid the train wreck bitcrap is becoming.

 Cool

FYI:
If you are partial to Chinese controlled coins like BTC,
go with LTC with a 2½ minute blockspeed it has 5X the transaction capacity of BTC.
legendary
Activity: 1708
Merit: 1036
November 23, 2016, 12:01:00 AM
#5


and you are simply stupid,
 a Block only can contain a certain number of Transactions, increase the # of blocks in a given time frame and you increase your transaction capacity.

That is why BTC is so much in the shitter, you can't even understand the above comment would fix the issue.

The political response was yours, Mr BTC Religious Fanatic.

How in the world can you be a lead developer of anything and not understand simple math, are you on Drugs?
Go to rehab and get yourself together man.

kiklo, please explain how increasing the block size or speeding block times will help bitcoin compete with things like Apple Pay, the VISA network and so on.

Keep in mind the current capacity of bitcoin is 3-7 TX/sec. The competition is on the order of thousands of times higher capacity. Please explain your brilliant solution  using a larger block size or faster blocks (and how you will handle orphans, etc.) or any combination thereof.

In fact, since you are such a genius, please start your own altcoin with these solutions to show us poor dumb folks how it is done.
legendary
Activity: 1092
Merit: 1000
November 22, 2016, 11:47:54 PM
#4
Decrease the BlockSpeed or increase the Blocksize, both simple solutions that would fix the transaction issue overnight , that are being blocked by the greedy and the stupid in charge of BTC.

This is simply nonsense/propaganda - increasing the block size (or reducing the block speed) simply doesn't scale and anyone trying to say it does is either purposely misleading you or doesn't understand just what would be involved in scaling (anything much more than say ten times what can be handled now).

Unfortunately @OP this issue has mostly become about politics rather than practical solutions to the Bitcoin network.


and you are simply stupid,
 a Block only can contain a certain number of Transactions, increase the # of blocks in a given time frame and you increase your transaction capacity.

That is why BTC is so much in the shitter, you can't even understand the above comment would fix the issue.

The political response was yours, Mr BTC Religious Fanatic.

How in the world can you be a lead developer of anything and not understand simple math, are you on Drugs?
Go to rehab and get yourself together Ian.

 Cool

FYI:
http://www.coindesk.com/lower-bitcoin-block-time-scale/
Quote
The logic is simple: More blocks mean more transactions.
legendary
Activity: 1890
Merit: 1086
Ian Knowles - CIYAM Lead Developer
November 22, 2016, 11:38:44 PM
#3
Decrease the BlockSpeed or increase the Blocksize, both simple solutions that would fix the transaction issue overnight , that are being blocked by the greedy and the stupid in charge of BTC.

This is simply nonsense/propaganda - increasing the block size (or reducing the block speed) simply doesn't scale and anyone trying to say it does is either purposely misleading you or doesn't understand just what would be involved in scaling (anything much more than say ten times what can be handled now).

Unfortunately @OP this issue has mostly become about politics rather than practical solutions to the Bitcoin network.
legendary
Activity: 1092
Merit: 1000
November 22, 2016, 11:33:08 PM
#2
I believe I read here that segwit was essentially released on Nov. 15 and that it had a certain amount of time to be accepted by 95% of (miners I guess?) and if that 95% was reached, it would automatically be implemented 2 weeks later.

Do I have that correct?

I also read that the lightning network would (maybe?) be implemented after that automatically. Do I have that correct?

Is there somewhere that I could go to see a live update of where segwit, etc stands?

https://blockchain.info/charts/bip-9-segwit

https://bitcoincore.org/en/segwit_adoption/

http://www.coindesk.com/whats-left-bitcoins-lightning-network-goes-live/
Quote
Segregated Witness require 95% of bitcoin's hashing power to approve the transition,
Unless the Chinese Mining Pools agree it is pretty much dead in the water.

https://lightning.network/
Is an offchain solution , which if BTC transactions clog up , it will fail also and neither solution fixes the underlying transaction limitations.

FYI:
Decrease the BlockSpeed or increase the Blocksize, both simple solutions that would fix the transaction issue overnight , that are being blocked by the greedy and the stupid in charge of BTC.

 Cool
newbie
Activity: 54
Merit: 0
November 22, 2016, 08:13:15 PM
#1
I believe I read here that segwit was essentially released on Nov. 15 and that it had a certain amount of time to be accepted by 95% of (miners I guess?) and if that 95% was reached, it would automatically be implemented 2 weeks later.

Do I have that correct?

I also read that the lightning network would (maybe?) be implemented after that automatically. Do I have that correct?

Is there somewhere that I could go to see a live update of where segwit, etc stands?
Pages:
Jump to: