40 Comments

  1. Hey sunny ironically I listened to your cast today explaining how you can’t respond to every message but I have a by bit delima I would like to discuss before I go viral with it.Dont want to go into detail about it just yet as I have a help request submitted with them.If not resolved for some reason I would like to make it known .Thanks

  2. "2nd Gen cryptocurrency"
    I like it.
    It's a fancy word for shitcoin!
    And ripple is also amazing, a full node using at least 8TB of data and taking 6 months to do a full sync.
    Bcash is another joke. Now they will fork and fight between them.

  3. DigiByte anticipated the scalability issues that would plague Bitcoin adoption. Thus, DGB designed it's blockchain so that it could handle Visa/Mastercard levels of volume, all while keeping all transactions on the blockchain. The problem with the Lightning Network is that it is an off-chain (meaning outside the blockchain) "solution". This is no solution at all, for if we're okay with off-chain solutions, we might as well stick with Visa/Mastercard because they're already digital and already super fast. Also, LN risks centralization because it'll have centralized hubs. If you believe in the true spirit of crypto, you should be very leery of Lightning Network.

  4. I've watched few videos about "what is lightning network & how it works", but I understood nothing till I watched yours. Really well explained and clear. Thank you so much.

  5. If Lightning Network is already live why does it still take 30/60mins to complete a BTC transaction? Should it happen almost instantaneously now?

  6. Lightning network, simply explained!

    Bitcoin moved the internet of things through its easy to use the platform and the accessibility of features it offers but its scalability is a big issue. It offers only 7 transactions per second and the transaction time differs according to the demand which does not make this as an optimum alternative to FIAT. Lightning network allows Bitcoin users to create a personal payment channel within the parties involved in the transactions. Through these channels or gateways, payments can be sent or received with minimal or no wait times.

    https://blog.coinswitch.co/what-is-bitcoin-lightning-network-6f6110e371ca

  7. Two analogies can be used to explain the lightning network. One is combining several banking transactions into one by purchasing a gift card (funding a channel) so only one transaction is on blockchain and the small purchase transactions are between you and the store via lightening centralized entity using your channel funds (gift card) .
    The other analogy is Swift bank system where a central bank or other centralized body balances all transactions and makes a transmittance of the balance only once every 4 hours.

  8. Easily one of the best LN videos we have seen yet. As of today there are well over 600 nodes! And over 1700 channels!!! And its only been 2 weeks since you made your video!!

  9. "It's a problem because we keep having to increase the block size every few years again and again to scale."
    So? Isn't this Satoishi's original plan? Why is this a problem? Is it just that eventually the block size become too big to be efficiently transmitted over the network? If so, when is that point?

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