This is gonna crash so hard once lightning network hits

This is gonna crash so hard once lightning network hits

Other urls found in this thread:

medium.com/@peterryszkiewicz/iota-vs-raiblocks-413679bb4c3e
medium.com/@jonaldfyookball/mathematical-proof-that-the-lightning-network-cannot-be-a-decentralized-bitcoin-scaling-solution-1b8147650800
medium.com/@curt0/lightning-network-will-likely-fail-due-to-several-possible-reasons-336c6c47f049
youtube.com/watch?v=UYHFrf5ci_g
forum.raiblocks.net/c/technical-support
twitter.com/SFWRedditGifs

Lighting network still has fees lol. And miners. bundled up in china. Did I miss something? Ah yes, the fight with bcash for the network hashrate. If it grows further we'll see raids on miner farms which could stop the blockchain.

I prefer raiblocks.

0 fees
0 time transactions

Also, read this:

medium.com/@peterryszkiewicz/iota-vs-raiblocks-413679bb4c3e

$15 is still an awesome price, we WILL see $100 simply based on marketcap vs iota. (Which has 2.7 B coins vs tiny 130M from raiblocks)

What do you care about bitcoin? If it ever goes to 20k again you've made $5k. With Raiblocks you're able to make 100-1000x in the next couple years.

Fuck off shill , no one likes your meme coins.

lmao muh lightning network

>15 is good entry

Gonna dip hard once on real exchanges

>muh lightning network
>muh raiblocks

is this the delusion containment thread?

Functional lightning network for real use cases is literally YEARS away. Also, lol at the complexity when setting that shit up.

(1/2)
Why Lightning Network is shit.
- Mathematical Proof That the Lightning Network Cannot Be a Decentralized Bitcoin ScalingSolution
medium.com/@jonaldfyookball/mathematical-proof-that-the-lightning-network-cannot-be-a-decentralized-bitcoin-scaling-solution-1b8147650800
“Conclusion: A Completely Unworkable System
As the network reaches a million users, it seems there will be no realistic way to avoid these problems. Dividing funds into many channels and continually loaning out money both make the network unusable.
The only conceivable visions are either A) everyone deposits MUCH much more than they need to transact with, or B) the system depends on large centralized hubs.
Neither is a decentralized scaling solution, or even a major part of one.”
///////////
-Bitcoin’s Lightning Network Will Likely Fail Due To Several PossibleReasons
medium.com/@curt0/lightning-network-will-likely-fail-due-to-several-possible-reasons-336c6c47f049
//////////
- How The Banks Bought Bitcoin | Lightning Network
youtube.com/watch?v=UYHFrf5ci_g

ya it will dip on real exchanges no question. But not because of lightning network that is fucking vaporware bullshit. Bitcoin is dead, I don't even have this shit coin and I would rather have it then fucking antiquated fucking boomer bitcoin.

(2/3)
- "You won't know how much the fee will be to close the channel, so you can't even allocate it properly. If the fee goes up, then someone will have to pay a miner to include the transaction. So another transaction. Most people cannot tie up their wealth. They need it available for emergencies, Many only have enough money to live month by month, it probably won't be any different with bitcoin. Frugal people try to avoid wasting money. My checking account/debit card is completely free. I won't even pay $5/month to upgrade, why would I want to pay money to open a lightning channel just so I can tie up the rest of my money. That makes absolutely no sense. You mentioned complexity. Even if lightning channels worked, it would make adoption slow. It would be like joining a club where you have to store your money in their vault and then you can only spend money at a few select stores. People envisioning the LN have never ran a business. Even the silly tabs idea is a 100x better than that."
///////////
- The Lightning Network has problems. It's glaringly obvious that it won't be used in a large capacity. Here is a list.
1. On-boarding fees will be too expensive. Further, people will not be able to redeem their money by closing the channel if someone tries to steal it due to high fees.
2. If fees are low, there is no reason to use LN in the first place. Obvious flaw.
3. The above assumes that the LN routing is hard to attack. Unlikely.
4. The above assumes that the LN will be decentralized. It's highly likely that hub operators will be required to keep track of everyone using their hub and report to governments. This defeats the point of Bitcoin and disqualifies this approach as a legitimate scaling option.
5. Nobody wants to lock up all of their Bitcoins inside of a channel for years, which is how the LN authors envision it will be used.

these raiblocks are promising the world for free. there has to be a catch

(3/3)
6. This essentially steals fees from the miners who actually support the network. It makes the network unhealthy. Any LN hub is a big fat middleman that Bitcoin was meant to prevent. Users will not use it for this reason.

7. Complexity. Bitcoin is complex enough for new users. Adding another layer isn't something they will understand and be willing to use.

8. Lightning may be vulnerable to routing exploits that DOS or DDOS the network. Essentially, the routing problem is hard enough to solve if everyone involved tells the truth and DOES cooperate. If an attacker begins lying about, screwing with, or disrupting the routing state of the network? Almost certainly fucked

9. Lightning resources are likely to be consumed or attackable as well. Capital available for counter-channel funding? Consumed by attackers. Channel partners available? Consumed by attackers. Routes with enough funds to route a transaction found? Attackers can stall out any transactions that happen to include them in the chain for 0.5-3 days depending on the settings of the channel / transfer.

10. LN funds are likely to flow un-equally to the wrong side of the channel, making the channel effectively useless without being closed & reopened, because normal financial flows are not symmetric and because lightning can't route large payments.

11. LN, as brand new software, is likely to have exploits and vulnerabilities that aren't found until the network is in production. But getting it to production will be rushed because the entire ecosystem has been bet on it and is dependent upon it delivering and doing so very quickly.

12. LN is also a brand new network effect that must be built from scratch. You can't pay someone on lightning until you're both already on lightning.

13. RaiBlocks is a viable Bitcoin alternative. Why use an LN when RaiBlocks already offers feeless, instantaneous transactions, as well as unlimited scalability, making it ideal for peer-to-peer transaction.

If Lightening networks works, it means you dont need bitcoin at all, just run the same shit on any other network.

Also run lightening on top of lightening, a layer 3 for your layer 2. Now make a cake and think how ridiculous the idea of LN is.

People keeping up nodes voluntarily.

there is a catch

you'll buy now and sell at the next dip and lose money

whos the fucking newfag whale that doesnt know how to exit his position

fucking slammed a market sell order on this thin as fuck exchange l m a o

you just cucked yourself out of so much gains
what are you doing

Catch is, its only 1 implementation, devs can decide anything, if it ever becomes 1 implementation or Foundation only - same shit as going to a bank. Same problem why Bitcoin Core is shit today.

Shill me on Rai more. How do we know it can scale when it gets mass adoption? Are we just taking their word that it can handle the load?

2018 will be the year better tech takes over, centralized kike coin ripple just passed ETH, Rai is the decentralized answer to replacing BTC.

You did buy XRB didn’t you, user?

>grampa is gonna outrun everyone once he gets the new wheelchair

I did at $3.20 then realized what a piece of shit it is and sold it

Nodes are voluntairly without incetive, it is also very very low cost (5$ a month) to set up a node. Any merchant will benefit from setting up a node. Anyone who believes in it will set up a node anyway because it doesn't matter money wise. Unless they really need the space/bandwith or w/e. But essentially you could get an old laptop and run it on there.

Elaborate, there's not much info. Why do you think its shit?

he wants the price to go down so he can buy more imo

way to much risk because it's on shitty exchanges. impossible to time the dumps because 1 holder could wipe the whole order book in 3 seconds because there's not enough people to sell too, and it's too hard and too expensive to move large amounts of money off the exchange. even if it's a good product, it's a bad investment.

I can give you the bearish case

- fully "premined" coin
- only on shit tier exchanges, heavily manipulated price
- no real incentive to run nodes, besides "for the greater good" argument you posted here - did +10000% in the past month, surely due for a correction

raiblocks are a fucking amazing idea
and besides, basing the name over the rai stones was also a cool as fuck move

I'm pretty sure that the two exchanges that sell raiblocks have fake orders/bots pushing up the price. real price discovery doesn't happen until it goes to a real exchange.

Also, I'd wait a few weeks for other people to vet the product for bugs and vulnerabilities. I'm not sure how Raiblock works without a central coordinator to decide which order of transactions is the correct one if there are malicious duplicates.

Ahahahahahahaha

*Gasp*

AHAHAHAHAHAHAHA

>no real incentive to run nodes, besides "for the greater good"
yeah, this is why it's not gonna work long term, sorry raiblock fans. you ain't gonna get enough nodes out of altruism.

You can judge the intellect of this particular cromagnon user based on his reply to a well structured argument.

What does it matter if it's premined. The distribution was far fairer than any other crypto.

You mean how torrenting works by people seeding voluntarily.

Talking about problems that wont be problems in a month

you really don't understand the concept of risk do you?

tbqh i agree, was just playing devils advocate and repeating the bear arguments ive heard

I am holding until we get listings on new exchanges. there is a lot of hype for this coin and there are lots of people who want in but are unwilling to open a bitgrail account

Its not altruism, running my wallet as a node to support my money is common sense.And isnt that how torrenting has worked for decades, people voluntarily seeding.

If you're afraid of risk then I don't know why you are here on this board or in crypto at all.

oh I take risks buddy, but I don't have the appetite for this one. there's easy money on plenty of other coins without all the problems this one currently has.

Is there any risk of double spending or any attacks people can do on raiblocks? Are you meaning to tell me Satoshi invented this whole proof of work / mining / blockchain thing for no reason, it could have worked with the same amount of security without any of that?

Fees even micro fees are there for a reason you imbecil. You think byteball has micro fees for fun? You know shit.

the devs gave an AMA and explained why it'll be no issue. But yeah, DYOR (and stay poor faggot)

its better than ripple but thats not saying much

Mission; send 100000€ back and forth 100 times

With BTC:
>Takes about 80 hours
>Costs about $400 in fees

With XRB:
>All transactions instant
>All transactions free

You know nothing about xrb history. Its here from 2014 and it was literally abandoned. It was even delisted from exchanges. Now its magically revived when it pumped x100, and dev quit job lol and now exchanges and trying to find bugs. You fucking noob if you were in crypto for few years you would know something. I hate fucking normies like you who knows shit, just came and shill xrb to death proclaiming it new bitcoin, if you like xrb so much you should have bought long ago you idiot. Literally fuck you noob.

FUD copy pasta now starting to show up. LMFAO you guys better get Xanax pills when this shit truly pops. See you at 100$!

You know nothing about xrb. Its here from 2014 and it was literally abandoned. It was even delisted from exchanges. Now its magically revived when it pumped x100, and dev quit job lol and now exchanges and trying to find bugs. You fucking noob if you were in crypto for few years you would know something. I hate fucking normies like you who knows shit, just came and shill xrb to death proclaiming it new bitcoin, if you like xrb so much you should have bought long ago you idiot. Literally fuck you noob.

two times it could not have been a mistake
who had sold it for a ridiculously tiny amount of money this time?

it is worrisome

but also comforting that it came right back up twice

How can it be comforting, it coming back this quick would only add for the worrisomeness

...

This.. this is how I feel right now.

>never abandoned
>only delisted due to toxic pajeets thinking cryptopia was the faucet creators.
>being this fucking new calling people new
ahahahahahahahahahahahahaha

It sure looks like a mistake, although it happened more than twice now...

what

it shows that there is active buyers coming in after the front of the bids gets wiped out by some guy dumping 200k coins at once

its everyone saying "oh boy XRB looking cheap all of a sudden!" and scooping the violent dips

>lightning labs
>ceo is a woman

Raiblocks has more chance to surpass Bitcoin than this shit network has to succeed. Deep down everyone knows it.

BitGrail is complete dogshit

how the fuck are you gonna make an exchange and not have it live update
gotta smash f5 like its 2008 again

>front of the bids gets wiped out
That's not what happens, though. Only that exact price order gets sold, otherwise you'd see a much slower dip.

anyone got a better way to watch the charts for XRB

tradingview doesnt seem to have it

>meanwhile
>CFT pumps 56000%

There are indirect economic motives to host a node, i.e. running a business that uses raiblocks for payment.

Just because the incentive for hosting a node isn't built-in to the protocol, doesn't mean it's non-existent. You must also consider the cost of running a node, which is significantly less than other coins in terms of disk space.

Ikr.. fucking hilarious. Fuck I love crypto!

no...
do you understand how bids and asks work?

lets say the order book shows one guy is buying 10 XRB at 1$ and another guy is buying 10 XRB at 2$

and I come along and want to market sell my 15 XRB, I would put my order to sell XRB at $1.
First it would fill the highest bid, that is, it would sell 10 at $2, then it would fill the remainder at the next highest bid, selling 5 at $1

Anyone with a decent amount invested will run a node to save them from bankruptcy

That's what you believe but don't forget this is a pajeet-tier exchange and everything we see could be untrue

fair enough

That's how it works on most exchanges.

Not on BitGrail, though.

wrong
i can prove it to you
I literally just sold 119 XRB, pic related

this was done in one sell order.
I put in my order as "sell 119 at .000971"
it filled the tiny front bid first

Okay fuck it, small stack. Idc this shit is to risky. its obvious large bagholders want to dump and it could reverse the trend. Outb4 homeless

...

larp more

Guys how are you not seeing this? Obv CFT is the new Bitcoin it just pumped 56000% leave XRB and go All In on CFT!!!!

Pajeet.php

Sold my stack at 100k sats. This coin is cool and all but I think the market is saturated at the moment. I'll buy back in if there's a major dip

Well, I can't be sure, maybe you're right. But the recent trade list at the bottom shows that ultra low price, I've seen it.

Thanks for confirming. Clearing all those buy orders down to 0.0001 so fast would be crazy.

But it could be glitching in several ways...

LIGHTNING NETWORK IS A KIKE PAYMENT CHANNEL AND NOT A CRYPTOCURRENCY
WHEN DO YOU FAGGOTS UNDERSTAND THIS

this. also, like i said, you still pay horrendous fees. $3 coffee, $1 fee. and that's IF it ever will be implemented. we're at 0.0.16.00 core version or some shit like that. and the freaking core team says bitcoin 1.0.00.00 will be the first one they'll officially hardfork.

1 xrb will be $1000 at that time and widely adopted.

You niggers should have just bought Skycoin, I told you about it when it was 10$ and now its 50$ and without all FUD. Cause SkyCoin is as legit as it gets. it does 3000 transactions p/s and is completely decentralised. Its the only alternative to BTC/BCH bullshit with additional stuff like decentralised internet, SkyNet and Obelisk.

>skynet

who the fuck is in charge of branding over there

is that the coin that talks about deploying satelites to process transactions?

fucking kek

Hahaha

nvm thats NEXUS kek got them mixed up

I don't think so but I do know the dev wants to launch a sattelite if the marketcap goes to 1 bill, which isn't that far away anymore.

DEJAVU

only 3k tx
still takes fees for being that slow

gtfo with the middle ages crypto please

Acutally Skycoin doesn't take fees, it uses coinhours which you get from staking ;)

Do ya research boi or get left in the mud

oh, so I have to buy my coins, wait a couple weeks until I have enough skyhours (lol) and am finally able to spend it ? these are still fees

1 hour = 1 coinhour so going to sleep would suffice

You're not even trying man, lame as critisiscm. 1SKY = 1Coinhour for every hour. Say you have 10 you will get 10 Coinhours p/h . What you say is just ignorant

thats why its fucking decentralized. if it wasnt decentralized it would be slow as fuck

Who said it was centralized?

fuck i'm good

forum.raiblocks.net/c/technical-support

Broken product lol

>forum.raiblocks.net/c/technical-support
It's just retard normies who are fucking their own shit up, devs are working on a light wallet, which it desperately needs

My god, just retarded normies. The solution is already mentioned on reddit since days ago. You just needed to click one fucking thing, and these stupid impatient chimps can't even wait 1 hour before calling something broken or a bug.