Topic: Technically: Bitcoin and it's Forum Setting A Pace for Others to have Traffic (Read 153 times)

When it comes to payments in altcoins, are you going to choose coins like BossBaby, PSYOP, BOBO 2.0 and similar garbage? LTC, Cardano, XLM, XMR are all good choices and aren't very volatile, they are as volatile as bitcoin, so, there is nothing to worry about.

I think that 90% of signature campaign participants don't care about holding Bitcoin and they convert BTC to USDT or other stablecoin and withdraw that. That's just my speculation which  I think is very true.

So, the model should rather look like that:
And then, it is safe. And also, that CoinPool can just detach a single participant:
More than that: it can have a tree-like structure, where there are always two outputs, and where updates are logarithmic. And then, the person going on-chain have to pay the fee for doing that. Or, a group can go on-chain to another multisig, and then the whole leaving group pays the fee.

Edit: Well, it is possible to encrypt the penalty transaction, send it to some P2P network in encrypted form, and make it a global watchtower, available 24/7. Then, if anyone will publish the old state of the channel, the network will see that conflicting transaction, and will use that data, to decrypt the penalty transaction, and broadcast it immediately.

And because sidechains were not accepted in the current form, then I think making a sidechain-like wrapper over Lightning Network is better than nothing. If anything, I would rather use any coin with 1:1 peg with Bitcoin, than some altcoin, because altcoins are too volatile.

The problem with staying off-chain in a second layer is that you want the ability to settle things on chain anytime you want without delay to avoid being scammed.
In the scenario you explained, Alice could continue updating the "state" for multiple periods and at some point they can create a double spend that sends the 1BTC input to another one of their addresses invalidating all the previous payments. Considering they were paying low fees, there is nothing the receivers could do to reverse that action.
Even without Alice turning scam, there is also the risk of any of the previous transactions being broadcast and confirmed making all the subsequent "state updates" pointless.

Exactly. For that reason, it is better to create an unidirectional payment channel on Bitcoin. And then, the user has the option: go on-chain now, or do that later, when fees will be lower. And then, if the user decides to stay in the channel longer, than the next payout, it is possible to do a replacement, without increasing the fee, because that transaction was simply not broadcasted.

For example: Alice makes this unconfirmed transaction:
It stays unconfirmed, nobody went on-chain, next payment period:
And so on, and so forth. And of course, it is possible to use some kind of multisig, instead of sending coins from Alice's account, and then distribute coins from such CoinPool. Then, the first person going on-chain pays all needed fees, and everyone has an incentive to stay off-chain, as long as fees are high.

Have they really done that considering the problem with this idea is not volatility of bitcoin but the volatility of that altcoin? For example if the exchange rate of the altcoin is something like 0.002BTC and they choose to get paid in that altcoin, it can get dumped hard and go down to something like 0.001BTC which is a much bigger loss compared to the tx fee they had to pay.
Not to mention that in order to convert the alcoin back to bitcoin they'd have to go on an exchange, pay a trading fee to convert the altcoin to bitcoin then pay a much bigger withdrawal fee (compared to the tx fee above) to cash out of that CEX.

I strongly affirm your two stated points.

The idea of transaction fees has made people seek for alternative payment systems other than Bitcoin. This does not speak well of the tech as Bitcoin is still at its early stage. You can't expect people to keep it real with Bitcoin when the fees are high even if they decide to pay deaf ears to the transaction time it takes for confirmation.

Mixers being ban has remained a surprise to loads of forum members. Although its a step in the right direction for the forum but its giving competititors some degree of relevance and they are hitting it hard out there as it poses greater opportunity for them to garner a lot of followership.

There are two things happened to Bitcoin this year that making other forums and coins to increase in value having population. And these are: High transaction fee and the banning of mixer in the forum.
The high transaction fee is making people to use alternative means to receive pay both here in the forum and outside the forum. Signature campaign participants asked managers to pay them with another coins if the fee is too high for them to pay and really that affecting the agreement between the managers and their clients though I don't know how they agreed since Bitcoin is volatile in nature. And if someone has 0.002 BTC in his wallet and he wants to make a transaction with it, and once seeing the transaction, he would be discouraged to do the transaction and keep it in the wallet and used another coins for his trading or investment. And if this continues Bitcoin might loss a great number of user because people might not like to pay very big amount for small transaction.

And secondly, The new development in the Bitcoin forum has created an avenue for altcoinstalks.com to be more popular. Because of the ban of mixers here in the forum most of the mixers now are in the other forum and most of us have not heard such forum before but because of the recent incident many users here follow the mixers to that side and the unknown forum now is getting population. And that is why people say "something must happen to someone for others to succeed". The second one might be a competitive arrangement in the crypto would and likewise the first one and the first one if not carefully deal with, it might affect Bitcoin very well. There are some technical issues to be solved in the Bitcoin network to clear those ordinals so that the network will be free from them in the future. What do you have to say?