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Rogerborg |
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Rogerborg nimbA
Joined: 26 Oct 2010 Karma :
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Posted: 10:43 - 05 Feb 2018 Post subject: |
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Sure, once all of crypto's advantages are dealt with by banning regulating, centralising, de-anonymising, tracking and taxing it, it'll be just like a real currency, apart from the usurious transaction fees and completion times measured in days.
That's when it'll really take off, right? ____________________ Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike |
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Pjay |
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Pjay World Chat Champion
Joined: 18 Jan 2016 Karma :
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Rogerborg |
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Rogerborg nimbA
Joined: 26 Oct 2010 Karma :
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Posted: 11:31 - 05 Feb 2018 Post subject: |
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Pjay wrote: | Bitcoin is slow and expensive, but that is being dealt with when the lightning network goes live. I'm sure I've been over this before. |
Yes, you said, while saying you wouldn't say it again, but here we are.
Since you've chosen to come out of purda, this question remains unanswered.
Rogerborg wrote: | Is [lightning] the one that requires fronting the amount that you might want to transfer (and wait 12,000 minutes), then sending (or not sending) it in a sputtering splatter of private IOUs, then finally publishing the net total (and wait 12,000 minutes)? |
Fancy enlightning me? ____________________ Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike |
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Pjay |
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Pjay World Chat Champion
Joined: 18 Jan 2016 Karma :
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Rogerborg |
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Rogerborg nimbA
Joined: 26 Oct 2010 Karma :
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Posted: 11:53 - 05 Feb 2018 Post subject: |
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Dissembling ahoy.
Pjay wrote: | bunches up the transactions off-chain and then puts them onto the chain once they reach a determined level, as one big transaction. |
Yes that's the last two thirds of what I wrote. I understand that, since I wrote it.
What about the first part? The "funding transaction"? Pre-committing everything that you might want to pay later, up front?
Did you not know about that, or are you in denial about it? ____________________ Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike |
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Pjay |
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Pjay World Chat Champion
Joined: 18 Jan 2016 Karma :
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Ste |
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Ste Not Work Safe
Joined: 01 Sep 2002 Karma :
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Posted: 12:17 - 05 Feb 2018 Post subject: |
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It's a bit late for Facebook to ban the get rich quick adverts. |
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Rogerborg |
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Rogerborg nimbA
Joined: 26 Oct 2010 Karma :
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Posted: 12:34 - 05 Feb 2018 Post subject: |
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Pjay wrote: | You do not have to preload, someone else can. You can use someone elses active payment channel for your transaction. |
Neat, so all you have to do is to find a third party who's already involved in your private peer-to-peer transaction?
Pjay wrote: | If I send you 100 BTC, I don't need to preload anything, the network will find the cheapest open route off-chain to pay you the 100 BTC. |
Like magical money ants, OK.
Question. If you - sorry, your escrow service - "pays" me 100 BTC in a private transaction that's not committed to the blickchain yet, in what sense do I have it?
I can't send or spend it anywhere else, since it's not on the blickchain. I can't even sent it back to you. I can in principle send it back to the third party, if they have something that I'd rather have instead of some private-imaginary BTC.
Bitcoin Bank of Amazon? ____________________ Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike |
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Pjay |
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Pjay World Chat Champion
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Ribenapigeon |
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Ribenapigeon Super Spammer
Joined: 20 Feb 2012 Karma :
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Pjay |
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Pjay World Chat Champion
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Ribenapigeon |
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Ribenapigeon Super Spammer
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Triton Thrasher |
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Triton Thrasher Could Be A Chat Bot
Joined: 16 Oct 2012 Karma :
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The Artist |
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The Artist Super Spammer
Joined: 06 Jan 2008 Karma :
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Ste |
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Ste Not Work Safe
Joined: 01 Sep 2002 Karma :
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Rogerborg |
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Rogerborg nimbA
Joined: 26 Oct 2010 Karma :
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Posted: 14:09 - 05 Feb 2018 Post subject: |
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Pjay wrote: | Rogerborg wrote: | Neat, so all you have to do is to find a third party who's already involved in your private peer-to-peer transaction? |
Nope, the network takes care of it. |
By what mechanism? Is it so sufficiently advanced that it's indistinguishable from magic?
Pjay wrote: | All transactions are going to be this way |
What way? Through private transactions within third party escrow transactions?
Pjay wrote: | Once they are sent to you, you can use them in other transactions. |
How can you, since fourth parties outside your private three-way blickchain has any basis for trusting it?
Pjay wrote: | There will almost certainly be a time where all BTC are owned publicly on the lightning network and not on the Blockchain. |
Owned publicly inside private blickchains and not on published blickchains?
Pjay wrote: | The blockchain will be faster and less congested as a result and just be a ledger of lightning blocks. |
Again: until a private blickchain is published on the public blickchain, why would anyone outside of that private chain trust the transactions inside it? ____________________ Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike |
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Jewlio Rides Again LLB |
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Jewlio Rides Again LLB World Chat Champion
Joined: 06 Oct 2015 Karma :
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Posted: 14:13 - 05 Feb 2018 Post subject: |
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I thought Facebook has banned ICO ads? I've seen an ad for the ICO for 'the new Uber'. ____________________ Mpd72: I can categorically say i’m Brighter than that, no matter how I come across on here.
HAHAHA HAHAHA Blew Chilly MyCrowSystems |
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Pjay |
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Pjay World Chat Champion
Joined: 18 Jan 2016 Karma :
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iooi |
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iooi Super Spammer
Joined: 14 Jan 2007 Karma :
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Ribenapigeon |
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Ribenapigeon Super Spammer
Joined: 20 Feb 2012 Karma :
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Rogerborg |
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Rogerborg nimbA
Joined: 26 Oct 2010 Karma :
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Posted: 14:42 - 05 Feb 2018 Post subject: |
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Pjay wrote: | I am pretty sure the people that are working on it, are smart enough for it to work just fine |
Your faith is touching, but it may be less compelling than you think, given that you're unable to answer technical questions.
Pjay wrote: | I'm sure you're just being a troll now. |
Now?
Pjay wrote: | If you really want to learn about it, you can read up all about it. |
I have, which is why I'm asking you where I've got it wrong. Where am I getting it wrong?
Pjay wrote: | I am not offering tuition on blockchain. |
That's... probably for the best. ____________________ Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike |
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Pjay |
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Pjay World Chat Champion
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Rogerborg |
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Rogerborg nimbA
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Ribenapigeon |
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Ribenapigeon Super Spammer
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Rogerborg |
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Rogerborg nimbA
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Old Thread Alert!
The last post was made 6 years, 75 days ago. Instead of replying here, would creating a new thread be more useful? |
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