Transactions, lightning fast with almost zero fees. Welcome to the Future of Bitcoin! At least that´s what we are all expecting to happen as soon as the Bitcoin Lightning network will be widely implemented into the major services as well as being used by numerous companies to receive payments.
While we are stuck with a filled up mempool these days as well as costly transactions, which sometimes take days to be processed we´ll be able to use Bitcoin in a whole different way after lightning reaches the masses. Bitcoin might finally become more practical.
Anyways, right now we are still far away from that happening but the first steps are taken. The Lightning network is up and running with less than $10.000 USD on the Bitcoin mainnet already and can actually be tried by anyone who´s curious about the way it works via the Blockstream project described below.
(Source -Bitcoinist.com)
Blockstream Launches "Lightning Online Store"
(Source -Bitcoinmagazine.com)Right from the beginning Blockstream seems to become an important player regarding the future of the Bitcoin Lightning network. They´ve already setup a small online store to showcase the capabilities and possibilities of Bitcoin as a real currency through the power of lightning.
In case you want to visit the store and try it out your own to see where the future will lead us, then click in on https://store.blockstream.com/
Just remember to leave them some feedback after you´ve checked it out. The developers are really eager to hear your opinions as one can see at the words from Blockstream Developer Christian Decker on the mentioned project:
"The desired effect of the Lightning Charge launch was to reach a wider audience, get early feedback from future users and to showcase what will be possible in a not-so-distant future, and I think we have achieved that goal."
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There's always something to look forward with old bitcoin. It's never a dull day in cryptoland ;) I wouldn't be surprised at all if we saw 60k bitcoin this year. People always under estimate how quickly it can rise.
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I´m rather excited about the development in the technology than the short term price movement. I see Bitcoin as a longterm investment, which should be held at least for some years as it´ll go mainstream step by step.
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60k will only happen with 1 of 2 things #1Updates in BTC, widespread adoption atleast online of BTC as a form of payment.
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I am very bullish on Lightning too. I think together with all the other innovation it will really turn the tide and make BTC more dominant day by day again. 2018 will be the year of Bitcoin!
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I wouldn´t say 2018 will be the year of Bitcoin alone. It´ll rather be the year of cryptos in general and especially the year of steem :)
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I know that it's the name of the game and all, but I wish all the major players in this realm would just team up already and create an ultra coin. You know, we have Dash, Zcash, and Monero, for example, all contending to be "the most secure coin." We have BTC, BCH, and LTC all contending to be the first cryptocurrency implemented into our economy (to, essentially, content with fiat). If we could pool all these teams and resources together, we could create an amazing coin that will revolutionize our economy.
Instead, everyone is duking it out and working on projects that other teams have already finished. It just seems odd that we are wasting our efforts and resources on things that mean very little in the grand scheme of things.
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Competition always drives innovation. So I actually don´t think that it´s a bad thing to have different coins, fully focusing on a special field rather than doing everything half hearted.
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100% with you on this.
Unfortunately it’s like this for everything. If we as individuals focused on bettering our species a whole, to collaborate projects together we’d be living in a much more advanced and improved era.
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Hopefully, we can figure out a way to make that happen.
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The innovations and added advantages of Bitcoin are some of the reason why it will not only bounce back but also do a lot better than it was doing before the bubble burst. I laughed knowingly when I read this: 'Transactions, lightning fast with almost zero fees. Welcome to the Future of Bitcoin! At least that´s what we are all expecting to happen as soon as the Bitcoin Lightning network will be widely implemented into the major services as well as being used by numerous companies to receive payments.'
What can be better than an online transaction where there'll be almost no commission, taxation or interest charges?
Thank you for this interesting and informative article.
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Wait, the bubble did burst? I just saw a healthy correction happening ;)
Cryptos haven´t even started yet, they are just getting ready to go mainstream.
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I am one who believe that BTC is dead or that it will fade away. I dont buy the it is too slow and costly argument. Yes it has its challenges right now but there are a ton of smart people on that blockchain who will figure it out.
Just yesterday they provided more details about the signature change that could help speed things up too. Either way, over time, BTC will scale while maintaining its place at the top...mainly because it has the name recognition.
That said, I think there are other tokens which provide a greater multiple return...including STEEM...in 2018.
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I agree with you on the higher potential of other tokens and especially steem in 2018. Bitcoin won´t fade at anytime though as it´s the leading coin and face of cryptos in general, just like you say it got the name :)
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Bitcoin Lightning Network - pros vs cons?
https://bitcointalk.org/index.php?topic=1693483.0
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I know btc to the moon to the last of year 2018 just wait and watch
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This is pretty impactful! It resolves Bitcoin's number one critique point - being too expensive to actually be used for transactions / as a currency.
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extraordinary information, thanks for the information I hope this information is useful for the people,
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This is badly needed. The competition is quickly closing the gap on bitcoin and it is slowly loses it's first mover advantage. Keep moving forward or risk becoming obsolete
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What’s taking the lightning network so lon to be implemented? It seems forks always happen at lightning speed while the lightning network is coming at a turtles pace! X-D
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fork is basically a copy, edit little bit, paste...
Something new is way harder to make, and bug test properly...
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Ahh, good point, I feel stupid now. :-D
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I was thinking about posting a topic much like this one. The lightning network will sure be a game changer. I wish more people knew about it / started using it more. Very little downside to a project like this. I just wish it was advertised / talked more. Greedy bitcoin miners establishing incredible fees (half kidding). Game changer for sure.
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This is the best post on Steemit! I gave you my vote! Nice?🤗
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Good to know bitcoin is thinking about the future and improving its weaknesses.
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Everyone should be joining crypto.. its the only way to overthrow banks!
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I have always thought about it and will keep it, the cryptocurrency and the bitcoin will be the money of the future, it is not surprising that we have already begun to see this type of initiatives and it would not be strange to see increases in the price of bitcoin.
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I read somewhere that its happening may 2018. If that's true then be prepared for market dominance of 50%. Bitcoin will cross 23k. The much anticipated ATH
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Thank you for the article, i voted for you
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That's the power of innovation. When something is lacking, we find solutions. I'm so glad that this is being implemented because Bitcoin's Achilles heel has definitely been its slow speed and very expensive fees.
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Current network, or are they wanting to fork AGAIN?
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I've seen some posts about the Lightning network already... just the 'you may loose funds' is not a very appealing message to me. Maybe if I were a whale, I wouldn't care... but Busy says I'm plankton, so I care :)
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