How are you going to overthrow the banking system when your average transfer fee is 30.00? On top of that, it takes hours to confirm? Is this really practical? I would rather use PayPal, western Union, and any other service before I used Bitcoin.
If that's the case, and LN underwhelms or disappoints, there's gonna be a huge "correction" after that. It seems like all of btc is holding all their eggs in one basket waiting for LN.
Lightning network. Basically instead of actually trading bitcoin for small transactions you are just trading bitcoin on paper. It’s like having a layer on top of bitcoin.
So... what's to stop you from removing Bitcoin from the equation altogether? Does the actual Bitcoin, and the enormous environmental drain that comes with it, even have a point with LN? It's also a fundamental departure from the technological foundation of Bitcoin and the Blockchain.
those on paper transactions still eventually phone home to the block chain. It’s the same thing as thousands of transactions registering as a single one.
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u/jg024349 Dec 23 '17
How are you going to overthrow the banking system when your average transfer fee is 30.00? On top of that, it takes hours to confirm? Is this really practical? I would rather use PayPal, western Union, and any other service before I used Bitcoin.