Telling people to make transactions on the Lightning Network effectively the same as telling them to make transactions with some other cryptocurrency instead of Bitcoin. Doesn't that lower the demand for Bitcoins to use in transactions, thereby decreasing the price from where it would otherwise be? DESU, I'm a bit skeptical that LN will work seamlessly or add truly desirable functionality, and I'm even more skeptical that it will do anything to help with merchant adoption--which is clearly the path forward for Bitcoin's long-term success. But for argument's sake, even if LN was wildly successful to those ends, wouldn't its use just drive down the Bitcoin price from where it would otherwise be, effectively cannibalizing the value of the coin? Someone might argue that LN increases the value of BTC by adding "features", but this seems silly for two reasons: Any other crypto can just adopt LN, if it really does add value (which seems a bit doubtful) thereby taking any LN "advantage" away from BTC...if there does turn out to be one at all. 'LN ready' coins at Blockstream's initiative (inc. Segwit), will join BTC in the pool of LN settlement tokens: GRS SYS BTX DGB MON LTC VTC NAV VIA CRE XMY
Why LN wouldn't just drive down the price of any properly-working crypto, relative to where it would otherwise be according to Gresham's Law*? * en.wikipedia.org/wiki/Gresham's_law
The "demand" for transactions just increases bitcoin fees, not the bitcoin value. For some reason it seems like you are confusing transaction scarcity with increased value for bitcoin, transaction scarcity just increases the price of the FEES.
You ask why use bitcoin then any other currency? Because 90% of all other coins in the top 100 are literal pajeet scams, and the remaining 10, most of them were never made to be used as a "currency" anyway
Also, there is a ton of infrastructure already made for bitcoin. Excellent wallets and software, tons of integration everywhere. Bitcoins main competitor as far as a currency, Monero, STILL does not have a properly functioning GUI wallet.
Michael Peterson
sorry honey, nobody wants your BCash shitcoin. god you fuckers are getting desperate. dishonest as fuck and desperate.
Gavin Campbell
NANO is the real lightning network.
Austin Evans
Bitcoin Cash is being promoted by the same people involved in Bitconnect.
Jonathan Taylor
> The "demand" for transactions just increases bitcoin fees, not the bitcoin value. Did you failed economics 101? Every IT company is valued by the number of users times the usage. Pic related.
>Because 90% of all other coins in the top 100 are literal pajeet scams, and the remaining 10, most of them were never made to be used as a "currency" anyway BS. BTC doesn't even try to claim it has any function, it's supposedly "digital gold".
>Also, there is a ton of infrastructure already made for bitcoin. Excellent wallets and software, tons of integration everywhere. Bitcoins main competitor as far as a currency, Monero, STILL does not have a properly functioning GUI wallet. There are plenty of coins which are extremely easy to migrate to from btc like zcoin.
Theoretically, the entire LN network can run on these two only (assuming lightning ramp adds other major exchanges). There would be only one channel. In reality, there's going to be about a dozen actually used channels.
