this should be on every trading manual first page!
Crypto Talent
- Thread starter GlobalMacro90
- Start date
Alright everybody settle down lol.
Angry trader do you realize this is saying that there are a limited number of transactions per block. This is different than what you said. You said it would take a long time to settle if a large amount of value was transferred over the network, but it is a large amount of transactions.
This this is solved by layer two solutions, the lightning network is designed to aggregate a bunch of small transactions and only do one transaction on the later one chain.
Even still, you said there are times when bitcoin transactions take days to settle. That’s absolute bullshit and you know it. At worst it’s a couple blocks, and way more frequent than the current system.
can you show me a time when a bitcoin transaction took days to settle? You can’t just say bs
He won't. He's gaslighting the thread. Sad, but he got schooled on psyop
angrytrader probably crying somewhere,
The lightning network is not the Bitcoin network, and it is used exactly to improve the time that a transaction is taking. You are already saying that the solution to the "problem" is to use the lightning network, exactly because the Bitcoin network has that problem. I don't think that we need to go around this too much, the Bitcoin network is very inefficient by itself but if you add a layer as you suggest it improves, but that is not the point. The Bitcoin network by itself cannot handle the problem.
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He won't. He's gaslighting the thread. Sad, but he got schooled on psyop
angrytrader probably crying somewhere,
View attachment 283101
Let the grown ups talk
I mean yes and no man. Everyone knows that bitcoin traded off some utility, such as how many transaction can settle on a block, for increased security.
Layer 2 solutions like tonight lightning network sure aren’t bitcoin but they are built on top of bitcoin. They are literally designed to facilitate transactions that settle on the main chain bitcoin network. It basically solves a lot of the Fud around not using it as a medium of exchange because of the slowness.
Even from the very beginning the bitcoin people knew they needed to be a layer two. Look at Hal finnertys old posts he literally says in 2010
To me, achieving rocksolid security on the base layer and doing small transactions on a layer two is the best of all worlds
Transactions that are 'delayed' or 'not confirmed' are the ones we are talking about. Those transactions can increase the settle time wildly, adverb used by them, not by me. I don't have an exact transaction to point, and you guys are going to call me off on that, but can point to the support page that address the issue:
https://support.blockchain.com/hc/en-us/articles/217116406-Why-hasn-t-my-transaction-confirmed-yet
It's a meme. I think udi wertheimer popularized it on CT. It's the final salvo when a btc maxi realizes educating a no-coiner is fruitless and that they are in reality dis-ingenious and are a never-coiner.
https://www.investopedia.com/tech/bitcoin-lightning-network-problems/
This article points some of the problems of the lightning network as well as it mentions the scalability problem of the Bitcoin network, again.
Just so we are all on the same page.
This article points some of the problems of the lightning network as well as it mentions the scalability problem of the Bitcoin network, again.
Just so we are all on the same page.