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Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
bitserve
on 09/08/2017, 18:30:31 UTC

That's why blocksize increase is an increase in CAPACITY but not a scaling solution, and Segwit+LN is an increase in Scaling (and thus in capacity).

How do you plan to liquidate your tx LN in a disabled blockchain?
Oh, right, paying $ 100 in fees.

Increasing the size of the blocks is a scalability solution.

As I have previously said I am pro reasonable block size increases as needed to provide the adequate infraestructure for both on-chain tx's AND LN settlements.

Could you explain to me, please, how will the LN transactions be processed in a decentralized way?

It seems to me that the value of a currency comes from its utility.
If we artificially limit the use of bitcoin to offchain transactions, we are limiting its value.

Bitcoin can be a store of value as long as it maintains its usefulness.

Small tx's, purchases, payments (that morning coffee) using LN. All the rest tx's directly on blockchain. Store of value, on blockchain.

This is what I really love about Bitcoin: Currently, you have cash (FIAT), and you have it on your posesion and control. You have your cash wallet from which you go paying small daily stuff but.... The BIG FIAT stash you have it on banks. You are not in direct possesion of it.

Bitcoin changes that, I want to be in posesion and control of my BIG stash. I don't care if my small wallet is in control of "third parties" ie: LN hubs as long as I posses/control the BIG part of my stash.  And this is completely compatible to the idea of blockchain tx's and LN tx's.