Quote from: cAPSLOCK on January 01, 2018, 06:46:25 AM

Quote from: bitserve on December 31, 2017, 01:18:55 PM

Quote from: realr0ach on December 31, 2017, 12:42:08 PM

Quote from: bitserve on December 31, 2017, 12:22:10 PM

Will you have some patience? It looks like LN is coming soon enough.

You cannot be serious. Do you actually know what LN is? I'll tell you what it is. LN is nothing more than establishing bitcoin banks on top of the blockchain. All of the exact same regulation traditional banks have will be applied to them and bitcoin will be virtually identical to your current banking system. The only reason it hasn't happened yet is because it's too difficult for them to play whack-a-mole with regulating miners, but the LN "nodes" aka banks are less ambiguous in nature and will be regulated to infinity just like any normal financial services provider or bank.

The costs, compliance, and amount of lawyers needed will be so high only entities like JP Morgan and Goldman Sachs will run them. This is how crony capitalism works. You introduce regulation with compliance requirements and fees so high that only your existing monopoly can participate while all small competitors are eliminated.

Nevermind the fact LN doesn't function in a decentralized manner in the first place. There is also ZERO incentive for LN nodes aka banks to broadcast transactions to external peers. There is actually incentive for these bitcoin banks to FORCE a hub and spoke model or cartel collective in order to hold their users hostage for usury fees (just like regular banks do). There's also nothing that stops them from changing usage of bitcoin as settlement to ripple, US dollars, or anything else. I wrote more on why LN is unworkable on the technical side here:

I am completely serious. The trees aren't letting you see the forest behind. Yes, LN in its first phase might introduce some sort of "centralization" in that a hub and spoke model will be easier, cheaper and faster to deploy. But:

1- We are talking about L2. I wouldn't have any problem in additional layers more or less de/centralised. You shouldn't too, as they are all optional... just additional layers!

2- That's just at its first stage. It won't be that hard to evolve into a more decentralized structure some time later.

3- Rerouting a big amount of tx's to those (maybe) more "centralised" layers will free up more "space" for direct blockchain tx's.

... And, above all, it will be the best digital payment system ever known to man... Invest now, wait for it, and then fucking sell all your BTC for more shiny metals if that's your thing. Do you have some ethical (or mental) problem getting profits for your investments? No wonder you hate Jews so much. They don't fucking care about all those irrelevant details.

Don't try to reason with that awful shithead. Many of us have him on ignore.

Probably because any thread dealing with money is going to be filled to the brim with dirtbags from the evil cult known as judaism who are going to cry for days about every single r0ach post since they all blow apart their Marxist agenda. Here, dirtbag, have another fun r0ach fact. Not only do they run the media and banks, it's 10x worse. Any type of evil, vile thing you can possibly think of, it's right out in the open they will run that too:

NYT Finds 'Disproportionate Role' of Israelis in World Organ Trafficking

https://www.haaretz.com/israel-news/1.610986

They are a plague upon humanity.