News for hackers. Stuff that matters.

A comment on Lightning Network Skepticism. Parent comment

Re:Lightning Network Skepticism by 3dfan on Friday December 25, 2015 @02:57PM (#10792165)
Uh oh ... for all I know, r/bitcoin is not a free community but gets heavily censored. A more balanced perspective can be found on r/btc:

https://www.reddit.com/r/btc

So you say LN is to solve future problems. Because transactions are free and in 30 years nobody will do the mining for free. Well, thats why bitcoin has fees. And a mechanism to let the market decide on those fees. This has been planned from the beginning.

From what I can see, all is fine with bitcoin. And there is no need for the complexity LN brings.

[ Parent | on HN ]
Re:Lightning Network Skepticism by josephpoon on Friday December 25, 2015 @03:38PM (#10792290)
It's already infeasible to directly make a single spend of $0.0001 on the blockchain itself (transaction fees are $0.02-$0.05).
[ Parent | on HN ]
Re:Lightning Network Skepticism by 3dfan on Saturday December 26, 2015 @04:34AM (#10793745)
What is the use case of spending $0.0001?
[ Parent | on HN ]
Re:Lightning Network Skepticism by Taek on Saturday December 26, 2015 @08:11AM (#10794049)
Downloading a webpage, for example. Sending an email, giving someone an upvote, making use of a caching service.

Basically any sort of payment you would want to do at the machine level. If I'm uploading a file to you, I would want you to pay per MB because I'm not sure if you're going to leave after you have 50% of the file.

[ Parent | on HN ]