Quote from: marcus_of_augustus on March 29, 2016, 06:10:16 AM

Quote from: adamstgBit on March 29, 2016, 12:48:48 AM

Quote from: marcus_of_augustus on March 29, 2016, 12:42:17 AM

Quote from: adamstgBit on March 29, 2016, 12:37:04 AM

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.

well opening and closing the channel requires a ( larger than normal ) Blockchain TX so unless you're going to reuse the channel 100's of times, the cost/TX on LN will not be many orders of magnitude less.

I can't wait to try LN ( i'll need a nice simple User Interface ) myself, it sounds cool, but I feel uneasy about banking bitcoins future on somthing i haven't tried yet. what if its not at all user friendly, do you care about this?