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Web3 is here and it's glorious
(lemmy.world)
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this post was submitted on 20 Aug 2023
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but how do I give someone .0045 cents for no apparent reason??
Don't forget the 40 dollar transaction fee
The only people that think this is correct are ones that learned about crypto 5 years ago and never thought to update their information. The lightning network allows for tiny bitcoin transactions with sub one cent transaction fees. In addition to that, the transactions happen in less than a second.
As long as you have a channel with that person preconfigured and funded right? Otherwise you need to do an on chain transaction with on chain fees to set up that sub one cent transaction.
No. I have opened up exactly 1 channel with 1 other person years ago, and it was done automatically when I installed the app. Since then I have been able to send and receive bitcoin to anyone I've wanted to instantly and for a miniscule fraction of the amount that I have sent. I am really surprised, I had no idea that so much misinformation was being passed around amongst people who have never even decided to try it themselves or even look into it deeply at all.
Shhhh, don't point out how there has to be a large pool of the currency sitting in someone's account and that the person often disappears with it all or spends it. That upsets their narrative. No regulation or oversite is GOOD.
It's also centralized and just a bandaid over an issue that could have been solved if Bitcoin had stayed true to its original intention, i.e. digital cash, not a fake store of value.
https://www.reddit.com/r/btc/comments/s3tvox/is_lightning_network_decentralized_why/
Great explanation by someone who isn't a maximalists. Sorry but yes it is.
No, it's centered around large nodes, that's the point they're making.
Over 50% of the network's capacity in the hands of 5 entities?
https://www.reddit.com/r/btc/comments/vo86ki/over_half_of_all_lightning_network_capacity_is/
Shit's decentralized as fuck yo!
Heck, Bitcoin itself had the majority of its hashrate coming from a dictatorship where the state needs to have a representative in all major companies... One move and the Chinese government had control over the network.
#decentralization
Did you ignore the second part of what I said? 🤔
Ok, so you ignored what I said.
China could have seized all mining equipment just by deciding to nationalize the industry instead of banning it, boom, 51%+ of the hashrate in the hands of the Chinese government. What were Bitcoin maximalists saying at the time? Fuck dick, as long as the price goes up, who cares about the tech behind it?
"It can't happen anymore"
Except they Chinese hashrate went back up even though mining is still illegal... Which begs the question... Did the miners really move out of China or did they simply hide the fact that they're in China?
Not what I said 🤷
This is like saying Lemmy is centralized because lemmy.world exists. This senseless rambling may work elsewhere, but Lemmy has too many computer literate users for you to gain any traction here.
Eh... Lemmy has too many computer literate users for Bitcoin maximalists and crypto to have taken a hold on the place, funny that!
Alright, I can see now that you are just yelling out things you heard other people say without any idea what they mean. FYI, a bitcoin maximalist is someone who things there is no reason for any other crypto. That is absolutely not what this conversation is about. I don't think bitcoin is the only useful coin, and I never said anything remotely similar to this. I'm sorry if you lost money gambling or something, but honestly I'm not surprised, clearly you are someone you gets overconfident with small amounts of information. That is possibly what you have to blame for whatever happened to you.
♥️
This is absurd. Anyone who has the slightest idea of how it works knows that it is in no way centralized. It isn't hard to learn how it works.
Everyone who believed this was true lost a lot of money betting on Bitcoin Cash.
Oh and show me people who bought Bitcoin in early 2021 that haven't lost cash please.
Cherry picking, look at a log chart
So is saying that everyone who bought Bitcoin cash lost money considering today isn't all time low.
It's not as if I was here to defend Bitcoin cash, I'm here to point out that Bitcoin and lighting network is flawed though.
split date != ATH
The rhetoric you're repeating is straight out of that scam. And you linked to their subreddit.
You're the only one who talked about split date and if we go by that argument, whenever there's a hard fork the people who were there before will never be losing because they suddenly own both without having purchased one of them.
Monero transaction fees goes brrrrrrrrrrr
It's less than 10 cents
GNU Taler. Ah, question was rhetorical :)
Really wish Taler to be available for use in the first country.
Me too, I really like the concept, also have demo-purchased by app with it. Hope it will become usable reality at some point.
This could be so awesome for electric scooters or anything tradicionally having coin insert.
Even if/when GNU Taler launches, somehow I don't think the VC-backed app scooter companies are going to be adopting anonymous payments anytime soon.