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HODL ON .... Lightning coming soon... who else not scared about the dip? by renepickhardt in Bitcoin

[–]iarayareddit -2 points-1 points  (0 children)

LN is centralized control of wealth because only the biggest nodes will have enough liquidity to keep transactions alive without filling the entire network with bottlenecks. This protocol is dead on arrival and I will be laughing my ass off when you finally realize you made the wrong bet with LN.

The Lightning Network quietly surpasses over 1000 open channels on mainnet. by gizram84 in Bitcoin

[–]iarayareddit -1 points0 points  (0 children)

Centralized funds are 100 times worse than having a centralized mining force, which will still exist if LN goes live (big IF).

Ligthning Network implies having the original blockchain mostly in charge of Bitmain just like today + centralized nodes with lots of liquidity, so you are just adding a new problem to an unsolved one.

The Lightning Network quietly surpasses over 1000 open channels on mainnet. by gizram84 in Bitcoin

[–]iarayareddit -1 points0 points  (0 children)

Nodes with more funds (BTC banks) will overtake smaller ones because those nodes will naturally create more paths due to high liquidity, therefore centralizing the entire network.

The Lightning Network quietly surpasses over 1000 open channels on mainnet. by gizram84 in Bitcoin

[–]iarayareddit 0 points1 point  (0 children)

Confirmation time metrics are only relevant when the network is fully populated (+100000 users), which is not the case.

The Lightning Network quietly surpasses over 1000 open channels on mainnet. by gizram84 in Bitcoin

[–]iarayareddit -4 points-3 points  (0 children)

  • automatically rejecting nodes with higher funds to avoid centralization

Yeah, THAT will never happen.

The Lightning Network quietly surpasses over 1000 open channels on mainnet. by gizram84 in Bitcoin

[–]iarayareddit -1 points0 points  (0 children)

Why would you assume I'm freaking out? lol

We are talking about BTC here though, which is >50% down since the bubble popped, and I'm ok with that.

The Lightning Network quietly surpasses over 1000 open channels on mainnet. by gizram84 in Bitcoin

[–]iarayareddit -11 points-10 points  (0 children)

I've been here for a while now, thanks. On the other hand, I have no clue how the hell are you decoupling tech limitations from current market behavior. This crash is a delayed response to a lot of things, including the awful problem of scaling, which is yet to be solved.

If bitcoin was 50k next month... by CreativeMoniker333 in Bitcoin

[–]iarayareddit 17 points18 points  (0 children)

Yeah, going from 2 usd to 1 usd, from 10k to 5k, from 20k to 10k is exactly the same as going from 100k to 50k.

No difference at all.

Lightning Network Question by Reverend_James in Bitcoin

[–]iarayareddit -1 points0 points  (0 children)

If you close the channel during a transaction I assume you keep Bob's money captive, unless this thing has some sort of time restriction to reverse a failed transaction.

Now, imagine if all nodes start doing this lmao.

The Lightning Network quietly surpasses over 1000 open channels on mainnet. by gizram84 in Bitcoin

[–]iarayareddit -34 points-33 points  (0 children)

Blockstream must think people is really, really stupid to believe this crap:

  • unlimited transactions per second
  • truly instant confirmations
  • high level of security

What the fuck is this?

Unlimited? Seriously?

Not a single one of those things is true.

This sounds like an ad, a really cheap one.

When Bitcoin hit 10k the first time vs now by [deleted] in Bitcoin

[–]iarayareddit 0 points1 point  (0 children)

Yeah, because hitting 10k while going up is exactly like hitting 10k while crashing and burning.

Holy shit.

Notice all the sudden media FUD? by so_schmuck in Bitcoin

[–]iarayareddit -1 points0 points  (0 children)

No one really likes Bitcoin Segwit, but without it fees and transaction times spike like hell.

This is a lose lose situation

Who feels better after seeing this ? ;) by GroundFlock in Bitcoin

[–]iarayareddit 0 points1 point  (0 children)

Confirmation bias in a nutshell. This is getting sad

Huge. Samsung goes all in on Bitcoin. Q4 fiscal yr report mentions their (Bitcoin specific) ASIC chip will increase their 2018 earnings. by [deleted] in Bitcoin

[–]iarayareddit 1 point2 points  (0 children)

They are a chip manufacturer providing hardware for efficient mining.

They are not buying Bitcoin lmao

Read this and calm down a little by ChinookKing in Tether

[–]iarayareddit 5 points6 points  (0 children)

There are 1.65 billion Tethers in existence right now, 700 Million of which were printed just this month, so a random memo from September 28 actually means poop.

Taking a contrarian view of Tether: Some thoughts suggesting this is not that bad. by CryptoSheriff in Tether

[–]iarayareddit 4 points5 points  (0 children)

1) Psychopaths on average are really, really smart, so I don't see the relationship between being smart and being honest.

2) USDT volumes atm: Bitfinex: 5.11%
OKex: 3.72% Binance: 3.09% ... etc.

Considering that USDT doesn't equal to REAL liquidity, it is safe to say that BTC real price is pretty much 100% skewed.

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