Post
Topic
Board Development & Technical Discussion
Re: Do you think the Lightning Network will succeed?
by
franky1
on 05/01/2022, 09:00:40 UTC
rath seemed to want my post deleted. such a shame. so here it is again

yes LN might be doing lots of 'payments' more then 1-3 payments a day per node. but thats not to buy real goods or do real transactions. thats just for rebalance and tests and debug crap. 

so stop the propaganda rhetoric that bitcoin needs huge capacity of 2gb blocks of billions of transactions a day to support bitcoin users daily needs, where LN is supplying the demand and handling billions of transactions a day.. ITS NOT

Stop making things up.

Over past 30 days @bitfinex processed in terms of percentage of tx count [dep/wd] (for #bitcoin related transactions).

60% #Bitcoin
34% #LightningNetwork
5% @Liquid_BTC
1% RSK

ok lets imagine bitfinex accounted for X% of a blocks total transactions .. by putting the lightning payments on the bitcoin network is not X%*200,000%(2gb), nor X%*10,000%(100mb).... its X%*56%(1.56mb-2mb if bitfinex was 100% of a block)
so lets use some random numbers
if bitfinex was 9% of a block. the additional transactions would be 5% meaning a 1mb block is increased by 1.05mb
if everyone had the same 60:34 ratio (56% offchain) meaning 1mb block (if everyone had 56% offchain) would become 1.56mb... not 100mb, nor 2gb

as for juices stats.
Top line numbers: Over the past 5 months have routed over 6700 payments worth over 1.7 billion sats earning me about 900k sats in routing fees; I've spent about 100k sats in on-chain fees and rebalancing fees.

obviously he is not a normal user for daily spend amounts. (lightnings promotion), he is a business doing transactions for customers/routing for others..
and ontop of that he is doing 'rebalancing' triangles, which can cause 'payment events' where people are not actually buying anything or moving funds in trades. but just trying to do work arounds for the liquidity flaws of LN

if he was an actually average joe (daily spend amount (lightnings niche)) his numbers would not be as high as 44 a day.
but even so. these numbers are not 488million transactions a day(2gb block propaganda).. they are just 44 transactions
again he is 8th ranked on most in the ranking of LN'ers.. yet not really putting a dent into the 244,000 transactions that happen on average a day on the bitcoin network at its current limited capacity..

a 8th place ranking node doing not 10%, not 1% not 0.1% but 0.018%.. of todays bitcoin daily limitation

i am truly laughing that you want to pick a top 10 ranked node that you define as doing alot of business as some weird proof that LN demands for transactions is extremely high to cause the need for 2gb blocks. but end up only showing 44tx a day demand out of bitcoins 244,000 current limited capacity..

sorry but bitcoin does not need 2gbh blocks like you lot propagandise as being needed to 'scale' on bitcoin..
i know your other chums think shouting "bigblocker" refers to 100mb blocks or 2gb block rhetoric YOUR chums invented.

but thats not what real bitcoin scaling requires. it does not need 2gb nor100mb nor 20mb.. it needs right now, to meet demand to utilise all transaction+payments onchain less than 4mb of a fully utilisable blockspace(not the cludgy math 'weight' thats under utilises inefficiently the potential of 4mb (as its still based on transaction space limit of 1mb. meaning we are only getting ~1700tx average(1.3mb) as a 'full block')

and no, unlike you and your chums who think the only answer to any bitcoin scaling is to try using a different network.. thats not the case either.

the debate is not a binary choice of either 2gb/100mb blocks or other network.
there is actually a middle ground. so just stop with the boring old propaganda scripts you and your chums have been indoctrinated into saying verbatim since 2016. as its just getting beyond the joke it is, when your clubhouse of chums each say the same thing and patting each other on the back with merits in a merit cycling group for saying the same things, like an unconscious sheep with the same hymn sheet