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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.
Nothing about lightning is centralized, unless you think bitcoin itself is centralized.
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.
Haha. Fees are high and it's impossible to open a channel because of that? That's beyond stupid..
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.
Man, why is every one of your comments just wrong?
01.01.2021: 23902
today: 26143
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.
At least Bitcoin cash stayed true to the goal of Bitcoin. A peer-to-peer electronic cash system.
That was also untrue. Electronic cash doesn't imply no/low transaction fees. Basically everything they told you was a lie.
Show me where in the whitepaper does it mentions storing value, please.
No/low transaction fees and ease of transaction is the main point of cash vs barter, Bitcoin abandoned that, now you have to go through the trouble of using level 2 to have small fees and quick transactions, what's the point of Bitcoin then?
No. I've had this exact argument enough times that it was a relief to finally bet on it.
Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model. Completely non-reversible transactions are not really possible, since financial institutions cannot avoid mediating disputes. **The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions**, and there is a broader cost in the loss of ability to make non-reversible payments for non- reversible services.Right in the introduction to the whitepaper.
Maybe you should start with reading it so you would see where things went wrong.
Lol I think you upset a bunch of BTC fans just now 🤣
I'm used to it 😁
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.