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.
[ Parent
| on HN ]
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...