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Blockstream Satellite API: Pay with BTC via Lightning to Broadcast Data Globally

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Re: Blockstream Satellite API: Pay with BTC via Lightning to Broadcast Data Globally

#21

Post by knocte »

Ihfhcub wrote: post #18
nonamenoslogan wrote: post #16

Hey look, another interesting idea for blockchain based propagation that will be niche and forgotten in a few months. Cool tech, but ultimately fucking useless.

Uses a satellite to broadcast bitcoin. Nothing novel about the broadcast mechanism and it does not use "blockchain" pseudoscience scam to progagate anything. But bitcoin does have a real blockchain so that might be confusing. I admit this is confusing as 99.999999999999% of everything with "blockchain" in its name is a scam

Granted, there have been a lot of scams in this sector. But to draw a parallel to the previous decades, it's like you were saying that because there were a lot of companies selling scammy ideas about their TCP/IP-based intranets, then the internet is a scam (i.e.: this article is about bitcoin, not about any other altcoin).

Re: Blockstream Satellite API: Pay with BTC via Lightning to Broadcast Data Globally

#23

Post by mikeash »

nonamenoslogan wrote: post #16

Hey look, another interesting idea for blockchain based propagation that will be niche and forgotten in a few months. Cool tech, but ultimately fucking useless.

It’s not actually related to blockchains, is it? Aside from accepting cryptocurrency for their fees, anyway.

Re: Blockstream Satellite API: Pay with BTC via Lightning to Broadcast Data Globally

#24

Post by wmf »

mikeash wrote: post #23
nonamenoslogan wrote: post #16

Hey look, another interesting idea for blockchain based propagation that will be niche and forgotten in a few months. Cool tech, but ultimately fucking useless.

It’s not actually related to blockchains, is it? Aside from accepting cryptocurrency for their fees, anyway.

They also broadcast the Bitcoin blockchain over satellite which makes some sense since the blockchain is public and all full nodes need copies of it. In theory this could reduce the cost of running a full node in places where bandwidth is very expensive. Of course in practice this a zeroth world problem.

Re: Blockstream Satellite API: Pay with BTC via Lightning to Broadcast Data Globally

#25

Post by just_one_time_ »

nonamenoslogan wrote: post #16

Hey look, another interesting idea for blockchain based propagation that will be niche and forgotten in a few months. Cool tech, but ultimately fucking useless.

It is worse, it is just propaganda from Blockstream. I don't know why HN continues to fall for Samson Mow's and Adam Back's nonsense.

adam3us, you and your company are the absolute worst thing to ever to have happened to Bitcoin. Being the single greatest force push for a 1 mb block size, you almost single handedly caused the alt-coin boom as users scrambled to find a usable crypto-CURRENCY. You, Sir are and will be remembered as absolute scum and an enemy of digital peer-to-peer cash.

Re: Blockstream Satellite API: Pay with BTC via Lightning to Broadcast Data Globally

#26

Post by [deleted] »

g45y45 wrote: post #4

If bitcoin is to be the global currency, it needs more channels to propagate than just public internet. Public Internet is too censorship receptive for system like Bitcoin. Broadcasting the block and tx data to the world via satellite gets us one step closer. Great work Blockstream!

[deleted]

Re: Blockstream Satellite API: Pay with BTC via Lightning to Broadcast Data Globally

#27

Post by DavidShares »

Quote from Jeff Garzik about the Blockstream satellite:

> It’s cheap to write a check to another satellite provider to do a broadcast for you. It’s a centralized data service, with a centralized [satellite] provider, and carries plenty of shutdown and censorship risk.

> It’s also a great way to centralize everybody on Blockstream’s version of the blockchain, as it appears that Blockstream are the only ones transmitting (uplinking) to the satellite.

Why is Blockstream being disingenuous about their satellite service promoting it as a path to decentralization when in reality it’s a centralized chokepoint?

Also, why is Blockstream actively destroying BTC’s value proposition by turning BTC into a settlement layer for the Lightning Network?

Re: Blockstream Satellite API: Pay with BTC via Lightning to Broadcast Data Globally

#28

Post by r32a_ »

DavidShares wrote: post #27

Quote from Jeff Garzik about the Blockstream satellite: > It’s cheap to write a check to another satellite provider to do a broadcast for you. It’s a centralized data service, with a centralized [satellite] provider, and carries plenty of shutdown and censorship risk. > It’s also a great way to centralize everybody on Blockstream’s version of the blockchain, as it appears that Blockstream are the only ones transmitti…

1) Anyone is free to launch a satellite service to compete with Blockstream. This is called permissionless innovation. If you don't trust their data you don't have to use it.

2) Blockstream is not the only developer working on LN, in fact, the main development team is called Lightning Labs, plus there are many open source developers working on LN. The bitcoin community has decided that it wants BTC mainchain to be settlement layer and the momentum behind LN proves this.

Re: Blockstream Satellite API: Pay with BTC via Lightning to Broadcast Data Globally

#29

Post by Ihfhcub »

knocte wrote: post #21
Ihfhcub wrote: post #18

Earlier quoted context omitted.

Uses a satellite to broadcast bitcoin. Nothing novel about the broadcast mechanism and it does not use "blockchain" pseudoscience scam to progagate anything. But bitcoin does have a real blockchain so that might be confusing. I admit this is confusing as 99.999999999999% of everything with "blockchain" in its name is a scam

Granted, there have been a lot of scams in this sector. But to draw a parallel to the previous decades, it's like you were saying that because there were a lot of companies selling scammy ideas about their TCP/IP-based intranets, then the internet is a scam (i.e.: this article is about bitcoin, not about any other altcoin).

Bitcoin is a functional and innovative technology. Blockchain scams are all scams. Their claims are nonsensical and they can never define what this new definition of "blockchain" they commandeered off bitcoin is if you ask them. Just ask these snake oil salesmen what a blockchain is and you'll see a look of confusion appear on their face. The media is doing a great job of propagating this scam.

Re: Blockstream Satellite API: Pay with BTC via Lightning to Broadcast Data Globally

#30

Post by r32a_ »

g45y45 wrote: post #4

If bitcoin is to be the global currency, it needs more channels to propagate than just public internet. Public Internet is too censorship receptive for system like Bitcoin. Broadcasting the block and tx data to the world via satellite gets us one step closer. Great work Blockstream!

Well if Blockstream satellite proves to be a profitable endeavor then you can expect competitors to come.

You can also expect different channels of propagation to emerge if demand builds up.

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