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RE: As Bitcoin Fees Soar, Should You Invest Elsewhere?
The bitcoin core developers have been resisting blocksize increases until now. Let’s hope they realize that scaling is required now on the bitcoin blockchain and asap on the second layer. A lot of hope rests on the Lightening network but it still isn’t clear how succesful this new concept will be.
Agreed. The lightning network makes sense on the ethereum chain in the form of the Raiden network, which would alleviate problems caused by apps like crypto kitties and move them off chain.
but for bitcoin it seems like the only use for the lightning network would be what the exchanges already provide, but on a more granular business-to-customer scale, or for companies like online casino's and betting, or for a bar tab, or even an app like crypto kittles, but to me that feels like taking 3 steps when you would only need to take one step with a better blockchain - just for the privilege of using Bitcoin, but the fees will still hit you after the off chain transaction is completed.
Yeah, my gut tells me the lightning network will be reinventing the wheel for what other projects already can do without frankensteining their code.