When will lightning network be added to Bitcoin?

Meuh6879

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Quote from: pentol86 on December 24, 2017, 02:17:04 AM

yes, im still confused why lightning network not implemented until now, this is for us too. we are bitcoin users, and low transaction is not good

Because full node don't enforce SegWit address for now.
SegWit is needed (must be enforced) for Lightining Network.

https://bitcoincore.org/en/2016/10/27/segwit-upgrade-guide/

Quote

The segwit soft fork has been designed to allow individuals in both groups to voluntarily decide whether or not they want to adopt segwit, and guides are provided below for both those who want to adopt segwit and those who don’t.

If enough miners do decide to adopt segwit, it will eventually activate and wallet users will be able to begin creating transactions with segregated witnesses. The segwit soft fork has also been designed to be both backwards and forwards compatible with all commonly-used wallets, so wallet developers and users can also independently decide whether they want to adopt segwit or continue making transactions without segregated witnesses.

bitart

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Vires in Numeris

Quote from: Sithara007 on December 24, 2017, 02:48:56 AM

It will be better to wait for sometime rather than implementing it in a hurry and later finding bugs in the system. If there is any issue with the network, then it will crash the Blockchain and the transactions will remain in limbo for many days. Such a scenario must be avoided at all cost. But at the same time, we can't ignore the rapidly rising transaction fees.

Sure it's better to wait for the time to do a proper test on the LN before implementing it on the live blockchain. The time could be enough to educate the people about the basics of the Lightning network, because now most of the people reads only the posts in the threads and they thingk that LN will be just a quick and easy implementation and a final solution. It's not that easy, there's a need for a quick user guide or a crash course for the usage of LN in order to get the users prepared by the time it goes live.

mpufatzis

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It is too early for the lightning technology, and as far as I know the developers of lightning are not the same of Bitcoin.
Yes, fees are too high but for the time being you can use a segwit address for your transactions.
The fees are much lower than the in "older" legacy addresses.

penig

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Reckon it needs to be released and adopted in Q1 or Q2 latest. Another few months and the other coins in the top 10-15 will take prominence. For example I want to put some cash in to cover ICOs, i'm looking at either ETH or LTC, bypass BTC as things stand.

Timeme

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Lightning network is a great technology, but can it really change the current situation of high cost handling? I doubt it. I'm not sure what the change of lightning network can bring.

wilhb81

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Quote from: 9jaflick on December 23, 2017, 08:17:28 PM

the cost per Bitcoin transaction fee is very high, network speed very poor, the last i made a transaction i waited over 30mins before my coin arrived my wallet. this is verty bad

Wow, 30 minutes transaction speed is considerably "rapid". Normally, I have to wait days to receive the transactions (the fastest I got a transaction is around 48 hours and I'm quite happy with it)

This situation will definitely change, once the lightning network being added to Bitcoin.

EcoChavCrypto

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Quote from: TheGodson on December 23, 2017, 07:57:50 PM

I've been hearing about lightning network for a long time now. When will Bitcoin be implementing it? Bitcoin doesn't have forever, there are now a lot of other contendors for the crypto king.

And you are really expecting to see it getting implemented on the main blockchain? just forget about it, the big game changers like the exchanges and the mining pools are never going to allow it.

They final game of giant fees and other shit is going to end soon if the LN gets implemented.

Just forget about it, and if someday they decide to add it, it will happen in months from now, maybe on 2019.

The Lightning network is still on the Testnet, but it will take months until it gets tested on the blockchain

jinksters09

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The transaction fee that bitcoin is requiring for every transfer of bitcoin to another wallet or person is really killing the rise of bitcoin in our world today because it's like people never really got away from the high cost of the transaction fee. Because people taught that they can save another dollar or money through bitcoin but with the uprise of transaction fee many people are getting disappointed towards it.

Rath_

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I have already tested Lightning Network on the testnet and it works great. I'm looking forward to using it in the next year. I'm also thinking of setting up a node for the testnet and the mainnet. Unfortunately, it will take some time before LN will be added to the wallets and services. Well, they have a good motivation. People won't pay with BTC unless they introduce Lightning payments, at least I won't.

squatter

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STOP SNITCHIN'

Quote from: TheGodson on December 23, 2017, 07:57:50 PM

I've been hearing about lightning network for a long time now. When will Bitcoin be implementing it? Bitcoin doesn't have forever, there are now a lot of other contendors for the crypto king. Bitcoin's market dominance is reducing more and more. This can't be ignored: https://coinmarketcap.com/charts/#dominance-percentage

I don't think that competition from altcoins is a legitimate reason to rush the development process. Most altcoins don't scale well, either. Nobody has solved the linear scaling problem that Lightning attempts to solve. The reason transactions are fast and cheap on other blockchains is because they are either small/unused networks or they are highly centralized (like Ripple).

Bitcoin is a much more valuable network than any other, and I think a massive amount of coins will move into the Lightning Network after it launches. That entails quite a lot of risk when LN launches. I commend the "slow and steady" approach in this context. Now that the network parameters are established and test transactions have been successful, I bet we're less than a year away.

Vannie12

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Quote from: Sithara007 on December 24, 2017, 02:48:56 AM

It will be better to wait for sometime rather than implementing it in a hurry and later finding bugs in the system. If there is any issue with the network, then it will crash the Blockchain and the transactions will remain in limbo for many days. Such a scenario must be avoided at all cost. But at the same time, we can't ignore the rapidly rising transaction fees.

I agree with you. It's better to wait than to be in a hurry without the assurance of its good function. It will all be a waste of time it happens. Let us just patient and hold on to our bitcoins longer. If you are in business using bitcoins, you might think other ways as an alternative to lessen loses in fees and slow transactions. Or if you want, try some good alts, you can diversify some bitcoins, be sure to have cautions.
Or try other payment modes. Peer to peer transactions are quite good I think.

Lucius

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Lightning Network is in the final stage of testing,so it is expected to become available during the next year.I think it is a bigger question,how fast will exchanges/wallet providers add LN and enable it to be used by all users.Considering how "fast" they are regarding SegWit,we should not expect some lightning speed regarding this issue.

I tested also LN and confirmation is instant,with this upgrade BTC would be moved to an entirely new level.I think it would bring a big increase in its everyday use as a means of payment.Buying coffee, newspaper or bus tickets would be something we could do pay with BTC without high fees and long waiting for confirmation.

You can try LN here : https://htlc.me/ and buy some Blockaccino&Espresso here : https://starblocks.acinq.co/#/

steamon

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I hope it releases as soon as possible just to kill bcash already. As one that discovered Bitcoin in 2011. I see this as a virus and it needs to be killed asap. It has no reason to exist else everyone would use coins like ripple or digibyte for transactions and even litecoin is better then bcash.

I am impressed how far this has blown up and also in value. People need to stand up and fight it. If Bitcoin falls everything will fall around it.

Do note I see Bitcoin as a store of value currently. The recent contests on the mempool and Bitcoin network are not good for Bitcoin. I do see LN as a proper fix that can't come soon enough. But I respect that they first have to fix bugs and that its 100% stable first.

Why is it so important? bcash has no LN support and LN will enable you to buy a coffee with Bitcoin. So that makes bcash absolete that's why they are trying to hard right now it's sad really.

Fud attacks will always happen in one form or the other for manipulation. Everyone wants to make money in this game. Who knows what we talk about in 2020.

icanscript

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As soon as you see a sharp jump in the cost of bitcoin (by 20-40%), you should know this implementation of the "lightning network" in the blockchaine bitcoin.

Sithara007

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It will be better to wait for sometime rather than implementing it in a hurry and later finding bugs in the system. If there is any issue with the network, then it will crash the Blockchain and the transactions will remain in limbo for many days. Such a scenario must be avoided at all cost. But at the same time, we can't ignore the rapidly rising transaction fees.

Irvinn

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I read that the network of lightning will be added to the bitcoon immediately after the New Year. She has already successfully passed the tests for conducting transactions and the tests showed good results. So soon bitcoin will lose its main shortcomings and users will stop resenting them. I hope after that he will systematically begin to grow in value.

xdrpx

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It's very close to being deployed on the mainnet. I've been testing lnd, lightning-app and eclair wallet on the testnet and man I'm amazed by the speed, it's almost instant. I can for sure say the lightning-app is still under development (it's the GUI built using reactJS) and the lnd (lightning network daemon) is being contributed by many developers and I can see a lot of progress. There are a lot of open issues that are being addressed the last time I checked their github. The lightning network will be added to the bitcoin mainnet only as soon as more developers help speed up the process. I'm guessing sometime in early 2018 it should be available for all of us to use, hopefully.

pentol86

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yes, im still confused why lightning network not implemented until now, this is for us too. we are bitcoin users, and low transaction is not good

jseverson

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I'm not sure why people are making a fuss about Bitcoin's market dominance. To me, it's an indication that alts are growing, not Bitcoin shrinking. Cryptos typically grow more slowly the bigger they get, which is why everything else is growing explosively.

Either way, the Lightning Network, if it works as advertised, is sure to help address this problem, if you can even call it that. It can potentially render a lot of other coins obsolete. I'd want it to arrive as soon as possible, but I also want enough time alotted to make sure it works perfectly.

talkbitcoin

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All I know is that I know nothing.

unfortunately i don't think it will be here soon. it takes time to develop and then test and release it.
and that is not all the problem. the adoption of it later on when it was released is the bigger problem. similar to SegWit and its adoption now i expect the same thing happening with Lightning Network. the big places like Coinbase won't add that either for a long time. and when the adoption doesn't happen, nothing will change.

Topic: When will lightning network be added to Bitcoin? (Read 173 times)