Meet the Man Traveling the World on $25M of Bitcoin Profits

Re:Meet the Man Traveling the World on $25M of Bitcoin Profits by pmorici on Sunday July 09, 2017 @03:34PM (#14731278)

You haven't addressed my comment you are just blabbering. In order to open and close lightening channels on chain transactions are required. Heck in order to protect yourself from fraud in the lightening model you need to be able to do on chain transactions.

Nothing you said addresses the concern that the people pushing lightening network the hardest are religiously opposed to raising the block size which will make it impossible to deploy lightening on a world wide scale because there won't be enough on chain transaction space to open up these lightening channels.

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Re:Meet the Man Traveling the World on $25M of Bitcoin Profits by vertex-four on Sunday July 09, 2017 @05:37PM (#14731810)

I'd have to have opened a grand total of one channel over the past four years, personally - I have a suspicion that most people do not regularly gain more income than they've ever had before, as they spend it at a broadly similar rate as they gain it.

In addition to this, as I said, the fact that Lightning Network is a protocol that allows cross-blockchain transactions between any two chains supporting Lightning Network means that if, as you say, Bitcoin has severe problems, everyone will just jump ship to another currency, as there will be far fewer switching costs.

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