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Comment by etr-strike | Hacker News Reader

Bitcoin Cash is the brute force solution to scaling. Increasing block size results in longer validation times as well as slower block propagation. Both of these things lead to centralization. The entire purpose of bitcoin is to be as decentralized as possible.

Anyways, here's a video released today of a lightning transaction happening on mainnet: https://www.youtube.com/watch?v=a73Gz3Tvx3k

Here's a video of Greg Maxwell explaining how slight propagation delays can lead to drastic increases in centralization: https://www.youtube.com/watch?v=EHIuuKCm53o

And here's rootstock, an ethereum compatible solution for smart contracts: https://www.rsk.co/

Bitcoin Cash is like trying to solve traffic congestion by adding more lanes.

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Why would anyone ever use rsk? They created a centralized clone of Ethereum and charge 20% fees, or something like that.

Here's a truly revolutionary scaling solution by the inventor of Bitcoin's Lightning network and Vitalik Buterin: https://plasma.io/

Also here is an Ethereum's equivalent of the Lightning network, which was deployed on main net recently: https://raiden.network/

I don't mind eth. I hope they can solve their problems. But they have problems, and they are running out of time to work them out. Their blockchain is out of control size. Nodes are dropping and they aren't coming back up. I've heard about sharding and pos, but i haven't seen anything approaching a solution yet. It's an issue.

Edit: > Why would anyone ever use rsk?

ICO. Share offer.

> Increasing block size results in longer validation times as well as slower block propagation

Processing more transactions requires more resources. That's not a bad thing. One might note that currently Bitcoin Cash is usable as a medium of exchange, whereas Bitcoin is not.

They can reduce the bandwidth requirements by implementing e.g. compact blocks.

Feel free to implement your code changes on the alt of your choice. Bitcoin node users remain unaffected.

It's over right? The whole attempt to sideline the bitcoin development team failed, and now that uncertainty has been removed, the price of bitcoin is skyrocketing. That's because bitcoin is valuable for what it is, not for unproven use-cases that decrease bitcoin security. We will get to those use-cases through layering bitcoin, and will not have to sacrifice security to do it.

Accept it. Move on.

And guess what, businesses are moving on. Steam just dropped Bitcoin as a method of payment. And before that OpenBazaar. And Yours.

FWIW OpenBazaar has not dropped Bitcoin as a method of payment, just chosen to diversify payment options.

Using the blockchain for one-off payments between participants is never a viable solution. The establishment of lightning allows commits to be aligned with the long term relationship between two participants. Even after that relationship ends, a completely unrelated payment may be routed through your channel, earning you a micropayment. There was never a solution to that type of functionality with a 10 minute block creation schedule.

That went live on main chain two days ago.

https://www.youtube.com/watch?v=a73Gz3Tvx3k

Blockchains are successfully used for one-off payments, even Bitcoin used to be. Not anymore. And Lightning doesn't solve that problem. Thus other cryptocurrencies will thrive as methods of payment, whereas Bitcoin will remain a settlement layer for recurring payments at best.

Ah lightning network, the vaporware that is always just around the corner...

The Bitcoin community I once knew is truly dead, if making purchases is an "unproven use-case" and the desire to do so on other chains is met with such hostility.

Fortunately among the other cryptocurrencies are communities that have not yet been compromised by greed.

You should invest in litecoin. They have had the blockspace you're looking for for years.

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