That's factually wrong. Lightning is a protocol on top of Bitcoin (like HTTP is built on TCP) and not a fork.
It has a different set of trade offs: transactions on it are instant, but one should only store small amounts on it (like what you would carry in your purse) since your money on it can be stolen if you are offline for too long (and you did not pay someone to monitor the network for you). But as long as you are online often enough your funds are secure.
If someone is curious how it works: https://lightning.network/
One thing I don't understand is why so many people seem to have this "Bitcoin CAN not, therefore it WILL not" attitude. Bitcoin is software, it is editable, it is being actively developed. Most of us here, I thought, were familiar with the process of improving software over time by working on it, providing solutions we didn't have before.
We don't write code once and say, "welp, software cannot do this thing, because it doesn't already do this thing." What?? People would think you're an idiot.
Yet this is the most common type of argument against crypto, even here on HN.
I’m sure I’ll get downvoted for that statement as well.
This is simple bullying by a mob of people who don’t understand what a currency is actually useful for. And are happy to bully and attack someone for even mentioning an issue.
Everyone agrees with you that being able to handle payments is important for Bitcoin to become a more widely-adopted currency. That's why they're working on improving it so that it can be that way.
People definitely disagreed with my statement “And having money stolen from my wallet because I haven’t logged in recently is NOT useful for a currency.” Disagreeing with that doesn’t bode well for the future of commerce.
The only possibly incorrect statement was “Another fork of bitcoin”. The person who told me I was wrong introduced a different project. I was accused of "moving the goal posts’’ when I clarified what I was referring to and got a snarky reply when I did so. So my statement about lightning being a “Another fork of bitcoin” is actually factually correct.
References: Lightning as bitcoin fork http://lightningbitcoin.io/ Lightning as protocol https://lightning.network/
Have a nice day, bully boy.
So have a look at this: https://chat.lbtc.io/topic/37-faq/
I can see blockchain currency being useful when it is backed by something solid. But right now it’s still just wasted electricity. Eg MasterCard and friends could easily create a currency and use it for exchange.
If I can’t actually use a currency to buy/sell or store value then what is it for? Or am I wrong?