When will the lightning network activate?

Spendulus

legendary

Activity: 2926

Merit: 1386

Quote from: dx_twisted on January 13, 2018, 04:19:24 AM

Quote from: ?? on ??

I do believe in BTC, and when something hits, it usually ends in failure. Just look at bitcoin gold and the previous bitcoin analysis.

Bitcoin gold isn't exactly a failure. Even Bitcoin Cash. They are two of the succesful cryptocurrency's that was created within Bitcoin's fork. A fail project will not even have a single cent of a value. ...

Not true. There's a large pool of "dumb buyers" in crypto right now.

A failed project is measured not by a coin's value but by a coin's markets and utilization.

In simple terms - which vendors accept it for payment?

dx_twisted

full member

Activity: 294

Merit: 114

Quote from: ?? on ??

I do believe in BTC, and when something hits, it usually ends in failure. Just look at bitcoin gold and the previous bitcoin analysis.

Bitcoin gold isn't exactly a failure. Even Bitcoin Cash. They are two of the succesful cryptocurrency's that was created within Bitcoin's fork. A fail project will not even have a single cent of a value. I'm not a fan of those two coins mentioned, but we have to show some love with other alternative cryptos as they are the reason why the digital economy is booming these days. Of course, Bitcoin is the pioneer and will stand strong for years. However, without the creation of either Litecoin, Ethereum, DASH, etc. will it still have a movement of its price? I don't think so.

amishmanish

legendary

Activity: 1904

Merit: 1159

Quote from: Anti-Cen on January 12, 2018, 03:07:50 PM

Quote from: Colorblind on January 10, 2018, 12:19:21 PM

The only reason those coins seem to have no scaling issues is because they lack scale to have scaling problems.

Agree 100% and they can play around like ETH with block sizes or timing but the old steam engine will not
go much faster and scale.

Nothing at all wrong with block-chain but Lightning is a useless sticking plaster that looks like a scam
to me and I am far from alone in saying this and they can forget playing us along for a completion data
because it would only take seconds for the development team to put a quick fix in for the crazy fees we
are being forced to pay.

public static money MaxFee=1.50 // 20,000 is too many miners, those that don't like the rule are free to leave

I can only assume that the dev team have become greedy and are owned by the
bankers. See https://www.youtube.com/watch?v=UYHFrf5ci_g

Lets keep everything on the block and all we need is to use block-matrix to break the 200gb
of data down into a more manageable size and distribute that between nodes and yes it will
include some degree of centralization but no more than is being built into Lightning anyway

Already Bitcoin is full of scams so whats it all going to look like when half my data is on the
block and others parts are hidden away in private ledgers, do one thing or the other boys

The dev-team is simply trying to do this more professionally than increasing blocksize and risking decentralization long term. There could be some sort of fee cap? But then how do the miners who aren't generating the coinbase block get compensated?

If the idea of opening and closing time-bound payment channels becomes widely used by merchants and users alike, then there really isn't a reason that it won't work. Its already demonstrated on the testnet. I am positive about the difference that LN can make.

Could you elaborate on that block-matrix thing? One thing to keep it in mind that the payment hubs cannot steal your BTC. whether thats possible in alternate implementations or not?

Victorycoin

hero member

Activity: 1134

Merit: 517

Quote from: jvper on January 10, 2018, 01:06:17 PM

Quote from: Colorblind on January 10, 2018, 12:19:21 PM

Quote from: e6ug on January 06, 2018, 02:45:06 PM

I think it will be too late, there are newer coins with much better tech, and less centralized mining available.

The only reason those coins seem to have no scaling issues is because they lack scale to have scaling problems.

Wow, this is so true! No coin has security, decentralization and scalability at the moment, but they keep pointing their fingers on Bitcoin at all times.

That is understandable, Bitcoin happens to be the flagship cryptocurrency and parades the largest community. In the future and by what time Bitcoin must have moved on, we shall be seeing most of these acclaimed substitutes of Bitcoin bending over to lace their shoes and evidently Ethereum has began to feel the heat already.

Shamie1002

full member

Activity: 406

Merit: 102

Quote from: jvper on January 10, 2018, 01:06:17 PM

Quote from: Colorblind on January 10, 2018, 12:19:21 PM

Quote from: e6ug on January 06, 2018, 02:45:06 PM

I think it will be too late, there are newer coins with much better tech, and less centralized mining available.

The only reason those coins seem to have no scaling issues is because they lack scale to have scaling problems.

Wow, this is so true! No coin has security, decentralization and scalability at the moment, but they keep pointing their fingers on Bitcoin at all times.

Can't say it better. New coins are easier to use because they are not having the same amount of users like bitcoin does.
If that "new coin" would reach such a demand, we could expect scaling problems, traffic and high fees too.
There is nothing to scale because it's not as popular as it is.
We can never say another coin is better that bitcoin. No one can.

Anti-Cen

member

Activity: 210

Merit: 26

High fees = low BTC price

Quote from: Colorblind on January 10, 2018, 12:19:21 PM

The only reason those coins seem to have no scaling issues is because they lack scale to have scaling problems.

Agree 100% and they can play around like ETH with block sizes or timing but the old steam engine will not
go much faster and scale.

Nothing at all wrong with block-chain but Lightning is a useless sticking plaster that looks like a scam
to me and I am far from alone in saying this and they can forget playing us along for a completion data
because it would only take seconds for the development team to put a quick fix in for the crazy fees we
are being forced to pay.

public static money MaxFee=1.50 // 20,000 is too many miners, those that don't like the rule are free to leave

I can only assume that the dev team have become greedy and are owned by the
bankers. See https://www.youtube.com/watch?v=UYHFrf5ci_g

Lets keep everything on the block and all we need is to use block-matrix to break the 200gb
of data down into a more manageable size and distribute that between nodes and yes it will
include some degree of centralization but no more than is being built into Lightning anyway

Already Bitcoin is full of scams so whats it all going to look like when half my data is on the
block and others parts are hidden away in private ledgers, do one thing or the other boys

cr1776

legendary

Activity: 4228

Merit: 1313

Quote from: kesany on January 12, 2018, 08:18:43 AM

I also think 18month is gonna be to late it is slowly starting to look like btc is slowly losing its attractiveness
since major companies like windows and steam dont accept btc payment anymore since the
fees aatm are ridiculous! and very slow so something reaaaally needs to be done about this.

i mean bcc has 8mb which is pretty sick compared to the 1mb of btc
(not saying that bcc is better or worse just stating the facts)

Lightning is running on testnet and there was at least one lightning transaction on the main net last month.

It is much closer than 18 months. Whomever is saying 18 months now is likely trolling you at this point. About 2 years ago people estimated about 18 months, and now we are nearly at 24 so it took a little longer than expected (SegWit's delay due to miners trying to block it certainly didn't help), but not significantly when you are aware of the volume of funds that could use it.

kesany

newbie

Activity: 45

Merit: 0

I also think 18month is gonna be to late it is slowly starting to look like btc is slowly losing its attractiveness
since major companies like windows and steam dont accept btc payment anymore since the
fees aatm are ridiculous! and very slow so something reaaaally needs to be done about this.

i mean bcc has 8mb which is pretty sick compared to the 1mb of btc
(not saying that bcc is better or worse just stating the facts)

amishmanish

legendary

Activity: 1904

Merit: 1159

Quote from: HeRetiK on November 15, 2017, 12:15:50 PM

Quote from: haltingprobability on November 13, 2017, 01:58:11 PM

[...]

That means that the key people who are guiding development of key features of Bitcoin need to think more like a finance startup and less like a space research agency - get it done yesterday and the customer is always right!

[...]

It's a community effort, not an attempt to make a quick buck by burning venture capital just to get bought up by Google or Facebook further down the road.

Good to read this positivity and that is what has made all of this possible.
This community effort aims to free people from the uncertainties of central banking policies by giving them a medium of exchange and store of value that is completely in their control.
Though, the present reality is that new entrants and marketing is fast catching up. And these attacks are becoming shrewder by the day.
Isn't it something that needs to be dealt with in small steps? Should we opt for a concerted effort or it should be left to each individual to decide, as has been the trend for bitcoin?

OG Magnum

newbie

Activity: 4

Merit: 0

Hopefully soon. I think LN and Segwit should be at the top of the list. It would definitely help with the mempool spamming and all other BS

jvper

hero member

Activity: 966

Merit: 507

Quote from: Colorblind on January 10, 2018, 12:19:21 PM

Quote from: e6ug on January 06, 2018, 02:45:06 PM

I think it will be too late, there are newer coins with much better tech, and less centralized mining available.

The only reason those coins seem to have no scaling issues is because they lack scale to have scaling problems.

Wow, this is so true! No coin has security, decentralization and scalability at the moment, but they keep pointing their fingers on Bitcoin at all times.

Colorblind

member

Activity: 392

Merit: 41

This text is irrelevant

Quote from: e6ug on January 06, 2018, 02:45:06 PM

I think it will be too late, there are newer coins with much better tech, and less centralized mining available.

The only reason those coins seem to have no scaling issues is because they lack scale to have scaling problems.

Colorblind

member

Activity: 392

Merit: 41

This text is irrelevant

Quote from: 9kek on November 18, 2017, 01:13:50 PM

Hope it'll have a gui.

It will

cactus87

member

Activity: 112

Merit: 16

Quote from: a-dalora on January 10, 2018, 03:10:21 AM

Quote from: e6ug on January 06, 2018, 02:45:06 PM

I think it will be too late, there are newer coins with much better tech, and less centralized mining available.

With the core technological advantage of being invisible.

LN is activated already.
You can now use your LN node to pay for TorGuard on main net

a-dalora

newbie

Activity: 23

Merit: 0

Quote from: e6ug on January 06, 2018, 02:45:06 PM

I think it will be too late, there are newer coins with much better tech, and less centralized mining available.

With the core technological advantage of being invisible.

e6ug

hero member

Activity: 773

Merit: 508

Bitcore (BTX) - The Future is Now

I think it will be too late, there are newer coins with much better tech, and less centralized mining available.

RicardoReis

newbie

Activity: 4

Merit: 0

Here are some videos of people using Zap: https://twitter.com/ln_zap/status/949160102883405824

Zap (http://zap.jackmallers.com) is a Lightning Network wallet that helps users accomplish their goals with a great experience. Taking in complex protocol language and delivering a friendly interface where anyone can send and receive cheap and instant bitcoin payments.

Platonicus

member

Activity: 91

Merit: 10

Just wait and see. Long live the king BTC!

9kek

member

Activity: 109

Merit: 21

18 months ^TM

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

You know, when something is rushed, it usually end up in failure. Just look at Bitcoin Gold and previous attempts at forking Bitcoin.

The LN developers know the risk and they are putting their reputation on the line, to put a secure solution on the table. < There are Billions of Dollars invested in Bitcoin, so this is a huge risk, not only for them >

People are blinded by the current situation that are being exploited to promote BCash and other Alt coins.

The army of BCash shills are doing a good job of distorting the real cause of the current situation.

Topic: When will the lightning network activate? (Read 1926 times)