Discover and read the best of Twitter Threads about #LightningNetwork
Most recents (11)
@Valustks1 Each one of the techs listed is revolutionary in it's own right. Combining them sets us up to replace *all* financial transactions with #bitcoin. Once the epiphany hits enough people, there will be a MAD rush to get rid of worthless fiat.
@Valustks1 This will be the trigger for the already 'waiting to happen' global hyper inflation.
Imagine the chaos during the *several* year transition period while people/gov/corps *globally* move from fiat to bitcoin.
All your IOUs that are fiat denominated are suddenly worthless.
Imagine the chaos during the *several* year transition period while people/gov/corps *globally* move from fiat to bitcoin.
All your IOUs that are fiat denominated are suddenly worthless.
@Valustks1 It *globally* resets all debt, at every level, personal, local gov, state, federal, and international... ALL goes to zero. What does it matter if you own $20T in debt, if $20T wouldn't buy a stick of gum?
Then, another big part... the globe goes from inflationary
Then, another big part... the globe goes from inflationary
#BTC #Bitcoin + #LightningNetwork + Autopilot + Splicing will cause more earth shattering changes than have happened in the last 500 years.
The invention of the internet and industrial revolution combined are NOTHING compared to whats to come.
The invention of the internet and industrial revolution combined are NOTHING compared to whats to come.
Oh ya, completely forgot AMP... that's an extremely important piece of tech as well.
Oops, posted the additional comments in the wrong place:
Spending #Bitcoin today is senseless. But if we manage to make it a good store of value, then it will naturally be used as a medium of exchange in the future.
Thread 👇
Thread 👇
1/ Instead of focusing on the act of "spending", we need people want to "earn BTC", to "be paid in BTC". We need more hodlers.
The economic and technical consequences of stressing one viewpoint (to spend) over the other (to earn) are profound and irreconcilable.
The economic and technical consequences of stressing one viewpoint (to spend) over the other (to earn) are profound and irreconcilable.
2/ Money's essence is being used as a medium of exchange (MoE). But for something to become money, or a universally accepted MoE, it must first follow evolutionary stages. First, comes store of value (SoV), second, MoE, and third, unit of account (UoA).
1/ BCash's 1 min block proposal and attempts to make 0-conf safe are nasty fudges to work around inherent restraints in the base layer already solved by layered protocols. The more of these hacked "work arounds" that come to light the more clear it is they chose the wrong path...
2/ Scaling through block size increases alone compromises decentralisation and introduces trust. Trusting 0-conf requires you ignore why a blockchain and PoW were required in the first place. 1 minute blocks compromises security, changes inflation etc.
3/ I don't know how much longer they can keep willfully deceiving themselves until they consider that the near universally accepted method of network scaling through layered protocols might have been the right choice all along... but it will be a fair while yet I imagine.
Ok, lets do some calculations on Source routing.
What's the most number of nodes you'll have to check to find a path?
The max you'll have to search is the total that exist. You're not going to check the same one multiple times.
So: If you have a partial mesh where each
/1
What's the most number of nodes you'll have to check to find a path?
The max you'll have to search is the total that exist. You're not going to check the same one multiple times.
So: If you have a partial mesh where each
/1
/2
node is connected to 10 other nodes, and your shortest path is 20 hops.
The average number of nodes would be (10^20)/2 [On average, you'd only check half the last hop)
So, that means you'd check 100,000,000,000,000,000,000 nodes, right?
*WRONG*
If there are 4 billion nodes
node is connected to 10 other nodes, and your shortest path is 20 hops.
The average number of nodes would be (10^20)/2 [On average, you'd only check half the last hop)
So, that means you'd check 100,000,000,000,000,000,000 nodes, right?
*WRONG*
If there are 4 billion nodes
/3
That means, at MOST, you'd check only 4B. You don't check the same ones multiple times.
So, how long would it take a modern computer to process this?
1 Ghz = 1 Billion cycles per second.
So, a Six core 4 GHz processor has 24 BILLION cycles per SECOND.
That means, at MOST, you'd check only 4B. You don't check the same ones multiple times.
So, how long would it take a modern computer to process this?
1 Ghz = 1 Billion cycles per second.
So, a Six core 4 GHz processor has 24 BILLION cycles per SECOND.
For ages, I've been trying to have a debate about #BCH "scaling" VS #LightningNetwork with someone technically knowledgeable, intelligent, and articulate.
I've failed in my search to find any #BCH supporter that fits one of those 3 requirements, much less all 3.
I've failed in my search to find any #BCH supporter that fits one of those 3 requirements, much less all 3.
All we get are "MORE BABIES ARE DYING"
And
"I have more money than your country!"
"F*** you toddler"
and a host of easily debunked propganda being spread by non-technical, individuals with no subject matter knowledge... (Or worse, they don't even know the meaning of the words.)
And
"I have more money than your country!"
"F*** you toddler"
and a host of easily debunked propganda being spread by non-technical, individuals with no subject matter knowledge... (Or worse, they don't even know the meaning of the words.)
So many with "Oh it's an IOU". No... Do you even know what that means?
"It's centralized" No... you clearly don't understand the meaning of centralized.
Etc Etc.
"It's centralized" No... you clearly don't understand the meaning of centralized.
Etc Etc.
1/ #BITCOIN ON THE SAME ROAD AS THE #DOTCOM BUBBLE ? If you look at #Nasdaq's price, you're able to find similar patterns. Internet began in 1990 but the Internet bubble really started in 1995. Similarly, $BTC was created in 2009 but price acceleration occurred in 2016 
2/ At the end of the Awareness Phase, both had events that will allow global adoption : Google and WiFi for the Internet, #LightningNetwork for #Bitcoin. These events may be considered as the catalysts pushing #Nasdaq & $BTC into Mania Phase
1/ WHY YOU SHOULDN'T BE AFRAID OF A BEAR MARKET FOR #BITCOIN : Looking at the big picture for $BTCUSD in a log chart, it seems that this correction for $BTC is completely normal. We may even go as low as $3k, but if you zoom out, this will allow us to bounce off that trendline 
2/ and thus draw our next impulse wave (3) which can push price as high as $100k. Media will talk about it way more than in 2017 and we will have a general adoption by the public (thanks to #LightningNetwork ?). Another big correction will occur (wave 4) and we will buy -
3/ again - in the 78.6%/88.6% fibonacci retracement while mass media will tell us that #Bitcoin is dead (again ?). And we will probably have our "final" 5th wave which could drive us above 1 million $ per $BTC.
1\ A thought experiment: The year is 2277. You're the bartender at a spaceport in a faraway Earth colony on a planet orbiting α-Centauri: a distance of ~4 light years. Guy walks into your bar, slams down a credit chit, and asks for a drink.
How do you know his money is any good?
How do you know his money is any good?
2\ If the credit chit were guaranteed by a bank or a blockchain or something local to α-Centauri it'd be easy, just like it is here on Earth in 2018.
But say this guy is fresh-thawed after his long journey from Earth aboard a lighthugger. What kind of wealth could he even have?
But say this guy is fresh-thawed after his long journey from Earth aboard a lighthugger. What kind of wealth could he even have?
3\ He's unlikely to be carrying base metals. Like natural resources, they'd still be valuable, but too heavy to transport from Earth. Physical fiat (bank notes) wouldn't be accepted either: too easy to 3D-print forgeries.
So what form of wealth survives interstellar voyages?
So what form of wealth survives interstellar voyages?
THE most corrupt people in #crypto:
@brian_armstrong
@rogerkver
@proffaustus
@JihanWu
@vinnylingham
@el33th4xor
These individuals have no principles.
None of them understand #bitcoin, yet all fight to kill that what gave them wealth and power in the first place.
Shame!
@brian_armstrong
@rogerkver
@proffaustus
@JihanWu
@vinnylingham
@el33th4xor
These individuals have no principles.
None of them understand #bitcoin, yet all fight to kill that what gave them wealth and power in the first place.
Shame!
- ignores the community and rejects the importance of #segwit
- likes tweets talking about "bitcoin dethroning"
- owns more $ETH than $BTC
- never says the word "bitcoin" during public campaigns, just "blockchain" or "cryptocurrency"
- likes tweets talking about "bitcoin dethroning"
- owns more $ETH than $BTC
- never says the word "bitcoin" during public campaigns, just "blockchain" or "cryptocurrency"
- he used to sell pipe bombs on the internet, spent time in prison
- spreads lies and fud
- claims bcash is the real bitcoin
- involved in pump and dumps, korean exchanges and insider trading
- tricks users in buying bcash on his site under the name "bitcoin"
- spreads lies and fud
- claims bcash is the real bitcoin
- involved in pump and dumps, korean exchanges and insider trading
- tricks users in buying bcash on his site under the name "bitcoin"
THREAD: Ready to get mindblown by #Bitcoin #CORE implementations and progress?
Volunteers around the world gather and cumulate tons of hours from the best minds on this planet about the topic. This is a gift, an invention made to humanity.
Volunteers around the world gather and cumulate tons of hours from the best minds on this planet about the topic. This is a gift, an invention made to humanity.
Forget about 2nd layer, it's already and way too mainstream as I recently stated.
Yet, welcome now to the "in between layers": "The new layer can be seen as a channel factory"
bitcoinmagazine.com/articles/new-s…
Yet, welcome now to the "in between layers": "The new layer can be seen as a channel factory"
bitcoinmagazine.com/articles/new-s…
Now Smart contracts.
You tought #Bitcoin was dumb? First and foremost, you were wrong because $BTC has smart contracts *since the inception*: multisign and lately get timelocks (led to LN).
If you didn't know that, admit you're never really been interested in Bitcoin or lured?
You tought #Bitcoin was dumb? First and foremost, you were wrong because $BTC has smart contracts *since the inception*: multisign and lately get timelocks (led to LN).
If you didn't know that, admit you're never really been interested in Bitcoin or lured?
