BITCOIN PRICE BALLISTIC! Lightning Updates



Bitcoin Price continues to go vertical while people go crazy in the community. We take the temperature of the community and also discuss the progress of the …

49 Comments

  1. Ivan, I like your videos, explanations and opinions. What is your personal opinion on the lightning network?
    As far as my information reach, it is NOT the idea invented by satoshi. It is far less decentralized than a real dezentralized currency and again the power will lie in the hands of the big institutions (channel nodes with huge amount of money/btc). Blockstream is a for-profit organization, controls the main dev team and is mainly focused on sidechains (as we see). Since I am focused on the support of the best technology for a DLT, I am rather an IOTA fanboy than a bitcoin fanboy. I can not imagine one single situation, where IOTA's tangle technology will not be more benificial than any blockchain.
    I am really interested in any opinions regarding the techie standpoint on this – mainstream adoption is surely another thing… Nevertheless some of the biggest industry players obviously plan to use IOTA in their products (Fujitsu, Volkswagen, Boshc …).

  2. **LTN isn't suitable for the end user** imho, it's meant for exchanges and bot channels.
    1. After opening a multisig wallet (fee#1),you need "Open a payment channel" between your address and every address you intend to use with high frequency which costs a fee(fee#2*x) for each one, and you must know the ip address of the hosted target.
    2. It then takes some time for new "channels" to be recognised by network participants.
    3. To even recieve from another LTN wallet you must open a channel or redirect an existing one.
    4. Allthough your LTN wallet made tx all day you dont have Bitcoin until "Settlement" of transactions is executed by closing said channel(fee#3)
    Anyone see the issue here?

  3. All those layers upon blockchain….just workarounds for the limitations of blockchain IMO. Why keep using blockchain then? For settled projects like bitcoin I understand, but for all new projects….There are already other consensus algorithms out there that don't need a synced legacy chain and therefor need no workarounds for scaling. If you like these alternative consensus stuff, google on 'medium parsec consensus'.

  4. If the lighting network becomes implemented and is a success, does that mean coins like BCash and Litecoin become irrelevant and lose most of their value? Since outside of their fast transaction times and low network fees they really do not have any other significant advantages over a Bitcoin 2.0 Lightning Network Coin.

  5. how LN interact with the miner fees? What will happen when BTC production get halved couple of times and most of the people in the network is using LN? Will it put the ecosystem in risk?

  6. As an investor, entrepreneur and student of the coding academy i was wondering if there’s any way i could set up a lightening network node and offer that connection / service to other local businesses and make a profit?

  7. Ivan can you explain to me what drives the price of Bitcoin. Not enough companies are accepting cryptocurrencies to give them such value. The only thing I see giving crypto value is people buying and selling crypto, and the black market. If it was not for the black market cryptocurrency would not even exist, the value of currency has to start somewhere.

  8. BTW, a little darker orange for your eyebrows, and lipstick. LOL and stop wrinkling up your forehead or you will have deep lines when you get old. 🙂

  9. I started investing in crypto last year and I went down the drain, me and my friends came across Mr Evan Gilmore and we reached out to him, I must say I make good money trading with him. I traded with him and went from having 3btc to 12btc with his new cryptocurrency trading strategy, that’s why I have decided to share this. It’s the least I can do for beginners or people who have lost so much in crypto currency trading and are looking for the right strategy Mr Evan is willing to help. Contact him via Evan.troygilmore101@gmail.com* or Telegram +1 904-428-8349 and seek his guidance

  10. Awesome as usual but could you talk about the programming and technological aspect of crypto more than the economics like you used to? or 50% market news 50% programming

  11. Great video thanks, So many people on here & social media excited about the markets now, but why not be involved when the markets when low and you could have benefited even more? Good times ahead though as i have always said, its not even started yet.. 🙂 .

  12. Here are my questions about Lightning network: 1. How does it work? 2. How is it implemented? Is this an update of BTC protocol and once the miners mine the specific blocks, all the wallets are automatically updates and on the Lightning network or not?

  13. I set LN node and fees curently are small not realy made You any profit beside they will cover electricity to handel 24/7 open chanel but this tech its realy somethink that most waiting from blockchain issue, You have all in 1 package speed/low cost/automatic scaling ofc it need more invloved and more security and volunrability test but when its boom it will do it hard

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