Quote from: Anti-Cen on December 30, 2017, 07:15:23 PM

[...]

Read up a bit on Ripple and how the protocol works, peek at IOTA Tangle and then see HashGraph
that is not used yet and is under development and then you will understand why I am talking about
old steam engines with Segwit and BTC

Quote from: Anti-Cen on December 30, 2017, 08:37:21 PM

[...]

VISA has 1/100th the CPU power BTC network has and can preform 25,000 transactions a second
and Ripple can scale to that too but BTC cannot and VISA do it without splitting the ledger so what does
that tell you about the Lightning sticking plaster.

I don't know about HashGraph, but every other solution you propose is based on using a central entity to manage transactions and prevent double-spends. That's a trivial problem that has been solved decades ago. That is not the problem that Bitcoin has solved.

What Bitcoin solved by applying PoW to the double-spend problem is something wholly different. It seems wasteful, it looks weird, but it's the only meaningful and secure solution so far that allows transactions without relying on a central entity.

One can argue about whether decentralized currencies are worth it, but arguing that centralization is what would help cryptocurrencies scale is approaching the problem from the wrong angle.

Quote from: Anti-Cen on December 30, 2017, 07:27:50 PM

So if ledgers on this BTC network keeps a balance of BTC then whats trading on Lightning ? Hens teeth maybe or
is it IOU's for BTC and if so then who lends out the IOU's to be settled at the end of the month.

[...]

PoW and mining solved one problem and created ten more and this is just were we are heading with
lightning but instead of Bob talking to Alice we have Chow Ming mo and Rabdub Remead thrown into
the mix and they don't talk the same language or share the same tokens.

[...]

Lightning Network is not "trading" anything. It's not a different language or a different set of tokens. It's Bitcoin scripts handling bitcoins. No new tokens that get conjured out of nothing. No IOU's that come with counter-party risk. Just Bitcoin.