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Topic: Share your opinions of Lightning - page 2. (Read 2025 times)

member
Activity: 208
Merit: 84
🌐 www.btric.org 🌐
September 26, 2017, 04:11:51 PM
#12
Lightning is not the same as segwit2x. Lightning does not need segwit2x to happen, it only needs segwit which has already activated.

This should be hammered in the newbies' heads. There is a lot of misinformation going around that Segwit2x is a mandatory hard fork. Another piece of information that newbies should know is Segwit2x does not include replay protection. I am sure many users will lose their Bitcoins because they either did not know what is going on, or because they did not take the time to read about the "situation" on November.

I agree with this.  The prospect of uninformed users losing their BTC because of the lack of replay protection is very real.  A strong communications campaign needs to take place to inform users, in plain and simple terms, about this fork, the reason that S2x should not be implemented in core, the fact that Lightning can already be implemented because of SegWit activation, and the dangers of failing to take appropriate steps to protect value stored on the blockchain in the event that this fork does in fact occur.

Well written information should be made available on all the major forums and websites, industry news sites either with articles or interviews with informed people that can explain it in simple terms for a wide and largely nontechnical audience, etc.

legendary
Activity: 2758
Merit: 6830
September 26, 2017, 03:45:24 PM
#11
Does this mean it will pass since segwit is already activated ?
Yes. The Lightning Network will be deployed on the main network without 2x. It only needs segwit which has already activated. It is not a consensus rule change so it does not require a fork and does not need anything to make it "pass".

If it does what will be the true impact on the Bitcoin network ?
It will significantly increase the transaction capacity as many recurring small payments can use the lightning network instead of having on chain transactions for all of those transactions.
So if lightning network doesn't need segwit 2x to function on the the main segwit network. Why did the 2x proposal go through in the first place if it doesn't have replay protection. Unless I'm missing something obvious.
The only way we found to put together enought hash power to activate Segwit was with the NYA agreement, which was signed by miners that wanted the 2x part. Core never agreed with that, but they are grateful - only - for Segwit.

It was something like "we only agree with that if you accept our conditions";
sr. member
Activity: 336
Merit: 252
September 26, 2017, 03:22:19 PM
#10
Does this mean it will pass since segwit is already activated ?
Yes. The Lightning Network will be deployed on the main network without 2x. It only needs segwit which has already activated. It is not a consensus rule change so it does not require a fork and does not need anything to make it "pass".

If it does what will be the true impact on the Bitcoin network ?
It will significantly increase the transaction capacity as many recurring small payments can use the lightning network instead of having on chain transactions for all of those transactions.
So if lightning network doesn't need segwit 2x to function on the the main segwit network. Why did the 2x proposal go through in the first place if it doesn't have replay protection. Unless I'm missing something obvious.
legendary
Activity: 3430
Merit: 3080
September 26, 2017, 04:34:35 AM
#9
achow101, maybe there is good reason to make sticky threads about what Segwit2x is, and for neutrality's sake why it is good or bad and why there is a need for replay protection.

Well, the S2x advocates are arguing that those developing for the "weaker" chain are those responsible for making the changes to ensure replay protection. But they're not trying to force everyone to "upgrade", this is like totally a free choice to choose their 51% attack alternate blockchain, lol
legendary
Activity: 2898
Merit: 1823
September 26, 2017, 12:30:37 AM
#8
I believe that there are many who are still uninformed or misinformed like BitcoinSupremo. Even though he is a hero member, he still needs to be updated with the latest news.

achow101, maybe there is good reason to make sticky threads about what Segwit2x is, and for neutrality's sake why it is good or bad and why there is a need for replay protection.
staff
Activity: 3458
Merit: 6793
Just writing some code
September 25, 2017, 10:11:24 AM
#7
Does this mean it will pass since segwit is already activated ?
Yes. The Lightning Network will be deployed on the main network without 2x. It only needs segwit which has already activated. It is not a consensus rule change so it does not require a fork and does not need anything to make it "pass".

If it does what will be the true impact on the Bitcoin network ?
It will significantly increase the transaction capacity as many recurring small payments can use the lightning network instead of having on chain transactions for all of those transactions.
copper member
Activity: 1442
Merit: 529
September 25, 2017, 01:34:59 AM
#6
Lightning is not the same as segwit2x. Lightning does not need segwit2x to happen, it only needs segwit which has already activated.

Does this mean it will pass since segwit is already activated ? If it does what will be the true impact on the Bitcoin network ? Personally I have always been a fan of no changes to the original Bitcoin network I found back in late 2013 when I first learned about bitcoin but if change is good for all of us then I agree to this change.
legendary
Activity: 2898
Merit: 1823
September 25, 2017, 12:08:03 AM
#5
Lightning is not the same as segwit2x. Lightning does not need segwit2x to happen, it only needs segwit which has already activated.

This should be hammered in the newbies' heads. There is a lot of misinformation going around that Segwit2x is a mandatory hard fork. Another piece of information that newbies should know is Segwit2x does not include replay protection. I am sure many users will lose their Bitcoins because they either did not know what is going on, or because they did not take the time to read about the "situation" on November.
full member
Activity: 182
Merit: 100
Transcodium - The Future of Transcoding
September 24, 2017, 06:47:09 PM
#4
Well then it sounds good
staff
Activity: 3458
Merit: 6793
Just writing some code
September 24, 2017, 02:50:26 PM
#3
Lightning is not the same as segwit2x. Lightning does not need segwit2x to happen, it only needs segwit which has already activated.
newbie
Activity: 44
Merit: 0
September 24, 2017, 01:20:27 PM
#2
I have a feeling that Lightning will pass. It'll bring some new features but I also think that the increase in blockchain size will hurt hobbyists running their own nodes.
sr. member
Activity: 504
Merit: 250
September 24, 2017, 12:51:52 PM
#1
I've done a little bit of reading about the potential that we will get lightning. I also read a little bit about lightning and its benefits, but could those more knowledgeable then me explain how you expect this to turn out and whether you prefer lightning or not; along with all the pros and cons of lightning.

Edit: Clarification
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