7 ms·

Now do the gold mining industry, and then how USD is backed by armies. And then you can research Lightning Network on top of Bitcoin and how it can process an u

by arbawk 6y ago

Now do the gold mining industry, and then how USD is backed by armies. And then you can research Lightning Network on top of Bitcoin and how it can process an unlimited number of transactions.

casi 6y ago
"unlimited" surely you mean limited? theres rarely tech with no limits. also the military/police/law/government defend you from being killed for your bitcoin.
- Vecr 6y ago
  Pretty close to unlimited, if you imagine a channel as slider or a bead on an abacus, as long as both nodes using the channel agree where it is, the position can be updated an infinite number of times without touching the blockchain. Timelocks let a transaction pivot through many of these.
derethanhausen 6y ago
This is just whataboutism. Gold isn't used as a currency. Seems a stretch to claim the armies exist solely for the USD. And until the Lightning Network is actually implemented it will remain theoretical.
- Erlich_Bachman 6y ago
  Not sure where you get your news but LN is implemented and functional. There are wallets, services, software, etc, downloadable, functional, used every day. If what you mean to say "get all the marchants that support BTC to accept LN", then yes, there is still some progress needs to be done.
  - UncleMeat 6y ago
    > there is still some progress needs to be done That's an understatement. There are two restaurants within 100 miles of my home that accept BTC, let alone use LN.
  - user-the-name 6y ago
    The LN is not functional. It does not have an implementation of routing that scales. Nobody knows how to make an implementation of routing that scales. If LN ever sees anything more than toy usage, it will fall over instantly, and become unusable.
maxmax 6y ago
So you agree then that the USD is not fiat, but is in fact a plutonium based currency? How does this fact effect the bitcoin case?
user-the-name 6y ago
Quite an amazing feat fitting all the ridiculous things Bitcoiners say about energy usage into such a short post. 1. The gold mining industry has nothing to do with bitcoin. 2. The gold mining industry has nothing to do with money. 3. The gold mining industry does not use anywhere near 0.1% of the entire energy production of the planet. 4. Just throwing the army in there for some reason, huh. 5. The lightning network does not "process an unlimited number of transactions". 6. The Lightning network does not scale. 7. Nobody knows how to make the Lightning network scale. 8. If the Lightning network worked, which it doesn't, it doesn't need to run on top of Bitcoin, so Bitcoin still does not need to burn 0.1% of the world's energy.

by arbawk 6y ago

Now do the gold mining industry, and then how USD is backed by armies. And then you can research Lightning Network on top of Bitcoin and how it can process an unlimited number of transactions.

casi 6y ago

"unlimited" surely you mean limited? theres rarely tech with no limits. also the military/police/law/government defend you from being killed for your bitcoin.

Vecr 6y ago
Pretty close to unlimited, if you imagine a channel as slider or a bead on an abacus, as long as both nodes using the channel agree where it is, the position can be updated an infinite number of times without touching the blockchain. Timelocks let a transaction pivot through many of these.

derethanhausen 6y ago

This is just whataboutism. Gold isn't used as a currency. Seems a stretch to claim the armies exist solely for the USD. And until the Lightning Network is actually implemented it will remain theoretical.

Erlich_Bachman 6y ago
Not sure where you get your news but LN is implemented and functional. There are wallets, services, software, etc, downloadable, functional, used every day. If what you mean to say "get all the marchants that support BTC to accept LN", then yes, there is still some progress needs to be done.
- UncleMeat 6y ago
  > there is still some progress needs to be done That's an understatement. There are two restaurants within 100 miles of my home that accept BTC, let alone use LN.
- user-the-name 6y ago
  The LN is not functional. It does not have an implementation of routing that scales. Nobody knows how to make an implementation of routing that scales. If LN ever sees anything more than toy usage, it will fall over instantly, and become unusable.

maxmax 6y ago

So you agree then that the USD is not fiat, but is in fact a plutonium based currency? How does this fact effect the bitcoin case?

user-the-name 6y ago

Quite an amazing feat fitting all the ridiculous things Bitcoiners say about energy usage into such a short post. 1. The gold mining industry has nothing to do with bitcoin. 2. The gold mining industry has nothing to do with money. 3. The gold mining industry does not use anywhere near 0.1% of the entire energy production of the planet. 4. Just throwing the army in there for some reason, huh. 5. The lightning network does not "process an unlimited number of transactions". 6. The Lightning network does not scale. 7. Nobody knows how to make the Lightning network scale. 8. If the Lightning network worked, which it doesn't, it doesn't need to run on top of Bitcoin, so Bitcoin still does not need to burn 0.1% of the world's energy.