Quote from: cjmoles on August 24, 2017, 05:40:25 AM

Quote from: davis196 on August 24, 2017, 05:22:18 AM

Quote from: Ilsk on August 24, 2017, 02:45:49 AM

Here there is a cool experiment, using a Bitcoin bidirectional payment channel to do transactions off-chain and exchanging secrets and commitment transaction on Twitter.

Have a look at this thread: https://twitter.com/FedericoTenga/status/900541985790078976

I don`t understand this "commitment" thing those guys are talking about.What is this?
Two guys are sending each other a bunch of code.It isn`t very user-friendly, i think.
By the way,i don`t see the coffee purchased with this transaction delivered. Grin

Many people have concenrns about offchain transactions security and double spending issues.
Are offchain transactions secure enough?

No....But it's better than not selling anything at all....or paying twice the price for a single cup of coffee. The simple answer is that bitcoin is broken....it's not the platform we thought it could be. The micro-payment markets have been gone for awhile now and the early adopter markets are going fast too lately. Coffee shops were some of the first main stream markets that adopted bitcoin, but now it's not feasible to use bitcoin in the moderately priced market ranges either.

Once SegWit & Lightning Network is working like it should, Bitcoin should perform as promised. The thing is, people tend to forget that Bitcoin has come under severe spam attacks and miner sabotage for years now. Under normal circumstances it would have functioned 100% and it would even handle limited micro transactions.

Sometimes it is just convenient to forget about these attacks and to blame Bitcoin for these high fees. We hope with SegWit activated, we would see less attacks, but miners can still move their hash power to BCC or another Alt coin to make these attacks more effective. ^grrrrrrrr^