Quote from: marcus_of_augustus on February 24, 2016, 09:18:34 PM

Quote from: bargainbin on February 24, 2016, 09:13:03 PM

Quote from: billyjoeallen on February 24, 2016, 08:52:03 PM

Quote from: bargainbin on February 24, 2016, 08:44:48 PM

Quote from: AlexGR on February 24, 2016, 08:38:23 PM

Quote from: adamstgBit on February 24, 2016, 08:26:44 PM

it's OK tho, when LN comes out fee will go right back to 1cent, because it will relieve a lot of pressure from the blockchain

LN is designed to improve scaling. Fee reductions are just a consequence of being able to conduct more transactions.

Remember how the US$ got bootstrapped? the Gold Standard?
Gold standard's long gone.
People still use LN USD

LN doesn't have legal tender laws to force people to use it. If it's not backed by Bitcoin (or something) the market will probably reject it in favor of something better.

You're missing my point (or, rather, I'm just not being clear)
Most people don't know or care what the $ is backed by. As long as I get my stuff when I hand over the $$$, everything's cool. Don't care what Visa is backed by, 'long as when I hand over the card, I get goodies.
Same with LN. If people start using LN, and it becomes accepted, they're using LN, *NOT BITCOIN*. Just like when people started using $$$, they started using $$$, *NOT GOLD*.
Saying that LN solves Bitcoin's tx problem is like saying USD solved gold's portability/divisibility/ease of use problem -- it's nonsense.

clueless ... every LN channel necessarily begins and end with a TX on the bitcoin network, for ever and ever, there is no LN without bitcoin.

Nah, LN can be backed by *ANY BITCOIN CLONE*
So now you know