Eddie_George

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About Eddie_George

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  1. The Bubbly Bitcoin Thread -- Merged Threads

    So you come here to plead about people spreading FUD, and then do so yourself. Priceless. It's not about choosing football teams, it's about one project -- Bitcoin -- that has competent developers, a healthy ecosystem, and nine years of near-flawless up-time, against a project supported by known scammers -- BCash- - that is poorly implemented, and employs incompetent developers that preys on the uninformed. That's despicable and needs to be called out whenever some shill on here promotes it.
  2. The Bubbly Bitcoin Thread -- Merged Threads

    You have no idea what you're talking about. Plenty of layered solutions incoming to scale with decentralization preserved. Some nice healthy competition from Dragonmint, Ebang's new 10nm E10, plus the Japanese GMO's 7nm chips.
  3. The Bubbly Bitcoin Thread -- Merged Threads

    And what's so funny is that Roger or Jihan pumped the BCash price out of anger just minutes after this news was released. They're so transparent it's laughable.
  4. True, but it needn't be that way. A Land Value Tax to replace all other major taxes including Income Tax would make the UK competitive with emerging economies.
  5. Sad, because they actually made stuff in the UK.
  6. Up until that point (which may not even happen) you'll spend most of your time worrying about the enormous debt you've taken on. I don't think it's worth that much stress.
  7. Australia Faces Its Demons

    I guess it's akin to a bull-trap.
  8. The Bubbly Bitcoin Thread -- Merged Threads

    I think it's pretty obvious that this was orchestrated hack, as Reddit and Twitter were flooded with Tether conspiracy theories over the weekend. The attackers were likely looking to short bitcoin just before carrying out the hack.
  9. The Bubbly Bitcoin Thread -- Merged Threads

    You can play with it now on the testnet, but Rusty Russell, who works on Lightning reckons there'll be an alpha, and possibly beta release on the main-net before the end of the year.
  10. The Bubbly Bitcoin Thread -- Merged Threads

    No, there's very little chance of fraud. Lightning is similar to Bitcoin in that it's a clever blend of cryptography and game theory -- that's why it's so exciting. I believe that if you try to renege on a payment, you risk losing your whole channel balance, so that's a big incentive to play fair. See if this article helps explain: The Lightning Network in the Old West
  11. The Bubbly Bitcoin Thread -- Merged Threads

    This is how I understand it: Payment channels, once open, can stay open indefinitely, the only reason to close a channel is if you want to cash out the Bitcoin for fiat for example, or the merchants that you use don't use the Lightning Network. One analogy is that the bitcoin you allocate to your Lightning Network channel is your current account, with your bitcoin stored in your main wallet being your savings account. These channels are not restricted to operate just between two parties, they can interact with anyone else who has an open channel and can carry out an unlimited number of transactions that will have tiny fees (strong competition will cause Lightning fees to trend to zero). e.g. your channel could be used to transact with Tesco, WHSmith, Boots, M&S, and your employer, if they all had channels open. This will reduce the number of trivial transactions that need to be settled on-chain and so reduce fees significantly. It's appreciated that the Lightning Network on its own cannot scale to the whole world's population (without raising the block-size to 100MB+), but recently a new paper suggests that a further trustless intermediate layer between the Bitcoin blockchain and the Lightning network could bring this within reach.
  12. The Bubbly Bitcoin Thread -- Merged Threads

    I don't understand what you mean. You're not relying on anyone to store your coins, they're stored in a multi-sig smart contract. If you run a full-node, you don't need to use a monitoring service, and even then the monitoring service cannot steal your coins. Hopefully we will see "light" Lightning wallets on mobile devices be able to interface securely with your full node running at home, so paying for that coffee with the Lightning Network will be simple and almost free.
  13. The Bubbly Bitcoin Thread -- Merged Threads

    Lightning Network transactions are as secure as those on-chain. https://medium.com/@AudunGulbrands1/lightning-faq-67bd2b957d70