• Feddyteddy@lemmy.sdf.org
        link
        fedilink
        arrow-up
        25
        arrow-down
        16
        ·
        1 year ago

        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.

        • TheOneCurly@lemmy.theonecurly.page
          link
          fedilink
          English
          arrow-up
          14
          arrow-down
          2
          ·
          1 year ago

          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.

          • Feddyteddy@lemmy.sdf.org
            link
            fedilink
            arrow-up
            5
            arrow-down
            1
            ·
            1 year ago

            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.

          • Astroturfed@lemmy.world
            link
            fedilink
            arrow-up
            15
            arrow-down
            16
            ·
            1 year ago

            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.

            • Feddyteddy@lemmy.sdf.org
              link
              fedilink
              arrow-up
              4
              arrow-down
              6
              ·
              1 year ago

              This is absurd. It is impossible for anyone to disappear with the money, nothing like this has or even can happen. Please post any source even claiming this. I am baffled that it would even cross your mind to even make such an absurd claim. Please post a source.

              • Astroturfed@lemmy.world
                link
                fedilink
                arrow-up
                5
                arrow-down
                9
                ·
                edit-2
                1 year ago

                Here’s the most widely known and published case:

                https://www.google.com/amp/s/fortune.com/crypto/2023/02/24/ruja-ignatova-cryptoqueen-onecoin-murder-bulgaria-crime-boss-yacht/amp/

                Supposedly she’s dead now but who knows. The current biggest news scam is the FTX shit. That was a crypto exchange. They stole like a billion dollars. Is it better because he didn’t disappear after fleeing to the Bahamas?

                This is what I love about you crypto techbros. You just claim everything that doesn’t support your beliefs isn’t real. Please invest all your retirement savings into digital currencies. You’ll show us.

                • Feddyteddy@lemmy.sdf.org
                  link
                  fedilink
                  arrow-up
                  4
                  ·
                  1 year ago

                  You misunderstood what was being discussed completely, we were talking about the technical side of the lightning network, not whether or not people kill each other for money. Yes, absolutely people murder each other to take what they want, but believe it or not this happens with every currency in the world and happened even before currency existed. I can’t even imagine what must go through the head of someone to think that murder/theft is something that bitcoin introduced to the world.

        • Kecessa@sh.itjust.works
          link
          fedilink
          arrow-up
          11
          arrow-down
          10
          ·
          edit-2
          1 year ago

          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.

          • Feddyteddy@lemmy.sdf.org
            link
            fedilink
            arrow-up
            5
            arrow-down
            4
            ·
            1 year ago

            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.

                • Kecessa@sh.itjust.works
                  link
                  fedilink
                  arrow-up
                  3
                  arrow-down
                  6
                  ·
                  1 year ago

                  Oh sorry if I don’t keep up to date to the daily movement of Bitcoin… I mean, I wouldn’t have because it’s a store of value and the basic principle of a store of value is the ability to use it and be guaranteed to have what you put in or close to it…

                  • Feddyteddy@lemmy.sdf.org
                    link
                    fedilink
                    arrow-up
                    4
                    ·
                    1 year ago

                    Don’t apologize, just use your time to learn instead of wasting it and everyone else’s by talking about things you don’t care to learn about first.

                  • SwingingKoala@discuss.tchncs.de
                    link
                    fedilink
                    arrow-up
                    4
                    arrow-down
                    2
                    ·
                    1 year ago

                    it’s a store of value

                    Sigh, you’re wrong again, bitcoin has the potential to be a store of value, it’s not one yet as it keeps going up long term until the market will have found a fair value.

                • Kecessa@sh.itjust.works
                  link
                  fedilink
                  arrow-up
                  2
                  arrow-down
                  2
                  ·
                  1 year ago

                  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.

                  • explodicle@local106.com
                    link
                    fedilink
                    English
                    arrow-up
                    2
                    ·
                    1 year ago

                    split date != ATH

                    The rhetoric you’re repeating is straight out of that scam. And you linked to their subreddit.

            • Kecessa@sh.itjust.works
              link
              fedilink
              arrow-up
              2
              arrow-down
              4
              ·
              1 year ago

              At least Bitcoin cash stayed true to the goal of Bitcoin. A peer-to-peer electronic cash system.

              • explodicle@local106.com
                link
                fedilink
                English
                arrow-up
                3
                arrow-down
                1
                ·
                1 year ago

                That was also untrue. Electronic cash doesn’t imply no/low transaction fees. Basically everything they told you was a lie.

                • Kecessa@sh.itjust.works
                  link
                  fedilink
                  arrow-up
                  3
                  arrow-down
                  2
                  ·
                  1 year ago

                  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?

                  • explodicle@local106.com
                    link
                    fedilink
                    English
                    arrow-up
                    2
                    arrow-down
                    1
                    ·
                    1 year ago

                    No. I’ve had this exact argument enough times that it was a relief to finally bet on it.

        • marv99@feddit.de
          link
          fedilink
          arrow-up
          6
          ·
          1 year ago

          Me too, I really like the concept, also have demo-purchased by app with it. Hope it will become usable reality at some point.

            • Arthur Besse@lemmy.mlM
              link
              fedilink
              arrow-up
              1
              ·
              1 year ago

              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.