Re:Coinbase: The Heart of the Bitcoin Frenzy
by bufferoverflow on Thursday December 07, 2017 @12:24AM
(#15867826)
And guess what, businesses are moving on. Steam just dropped Bitcoin as a method of payment. And before that OpenBazaar. And Yours.
Re:Coinbase: The Heart of the Bitcoin Frenzy
by sugarandcyanide on Thursday December 07, 2017 @01:10PM
(#15872455)
FWIW OpenBazaar has not dropped Bitcoin as a method of payment, just chosen to diversify payment options.
Re:Coinbase: The Heart of the Bitcoin Frenzy
by Frogolocalypse on Thursday December 07, 2017 @12:40AM
(#15867879)
Using the blockchain for one-off payments between participants is never a viable solution. The establishment of lightning allows commits to be aligned with the long term relationship between two participants. Even after that relationship ends, a completely unrelated payment may be routed through your channel, earning you a micropayment. There was never a solution to that type of functionality with a 10 minute block creation schedule.
That went live on main chain two days ago.
Re:Coinbase: The Heart of the Bitcoin Frenzy
by bufferoverflow on Thursday December 07, 2017 @12:44AM
(#15867894)
Blockchains are successfully used for one-off payments, even Bitcoin used to be. Not anymore. And Lightning doesn't solve that problem. Thus other cryptocurrencies will thrive as methods of payment, whereas Bitcoin will remain a settlement layer for recurring payments at best.
Re:Coinbase: The Heart of the Bitcoin Frenzy
by spookthesunset on Thursday December 07, 2017 @01:28AM
(#15868111)
Ah lightning network, the vaporware that is always just around the corner...
Re:Coinbase: The Heart of the Bitcoin Frenzy
by namelost on Thursday December 07, 2017 @03:48AM
(#15868612)
The Bitcoin community I once knew is truly dead, if making purchases is an "unproven use-case" and the desire to do so on other chains is met with such hostility.
Fortunately among the other cryptocurrencies are communities that have not yet been compromised by greed.
Re:Coinbase: The Heart of the Bitcoin Frenzy
by Frogolocalypse on Thursday December 07, 2017 @06:54AM
(#15869285)
You should invest in litecoin. They have had the blockspace you're looking for for years.
It's over right? The whole attempt to sideline the bitcoin development team failed, and now that uncertainty has been removed, the price of bitcoin is skyrocketing. That's because bitcoin is valuable for what it is, not for unproven use-cases that decrease bitcoin security. We will get to those use-cases through layering bitcoin, and will not have to sacrifice security to do it.
Accept it. Move on.