Post
Topic
Board Bitcoin Discussion
Re: ToominCoin aka "Bitcoin_Classic" #R3KT
by
marcus_of_augustus
on 29/03/2016, 06:10:16 UTC
will bitpay accept TX form the second layer?
will we need to rebuild out all the infrastructure we've built thus far?
was segwit's effective block incress ment to will give businesses a few more months worth of block space to give them time to adapt to the second layer?

nobody wants to central plan some grand design of how this will all look, it should just evolve with free market solutions  Grin
are second layer payments free? i mean say i want to use Lighting Network to buy a coffee what kind of fees can i expect?

I expect they will be quite minimal as the computational resources required for a Lightning transaction are orders of magnitude less than an on-blockchain transaction. Take a look at the current electrum server-client system (all volunteer servers) to get an idea of what it might look like in terms of computational costs. The free market will drive LN transactions fees down to marginally more than their computational costs which are small as I said. Internet of Things apps should be able to utilise LN (or payment channels) for negotiations and very small trades for fractions of resource swaps, etc.