Ending Bitcoin Support • Hacker News Board

This reads a bit like the sort of things people say when breaking up so as not to upset the other person too much. You're a great person, but you're just more of an asset than a medium of exchange, and what I need in my life right now is a medium of exchange.

What future does an asset have if people don't actually buy stuff with it? That is not a purely rhetorical question; cryptocurrencies change things a lot. But this news is worrying.

Re: Ending Bitcoin Support

#16

Post by curuinor » Tue, Jan 23, 2018, 7:12 PM UTC

rburhum wrote: post #11

stanchion wrote: post #6

This is good for Bitcoin

how is this good for Bitcoin?

this is a meme from r/bitcoin, where literally everything gets replied to, "this is good for bitcoin"

it is also an identical meme from r/buttcoin

Re: Ending Bitcoin Support

#17

Post by brndnmtthws » Tue, Jan 23, 2018, 7:13 PM UTC

horsecaptin wrote: post #4

brndnmtthws wrote: post #2

Is this a precursor to pumping their own shitcoin Stellar Lumens? I see they casually dropped it in there after naming a couple others to appear unbiased. They claim to be interested in Lightning Network, but aren't interested in using it? That's a bit lame. Or a lot lame.

Why do you call it a shitcoin?

It has an uncapped supply, and inflates at 1% per year. It doesn't really seem to offer anything compelling other than its A-list investors. It was also created by the same person who brought the world eDonkey 2000, Mt. Gox, and Ripple.

Re: Ending Bitcoin Support

#18

Post by vec » Tue, Jan 23, 2018, 7:13 PM UTC

For what it's worth, we just spent two weeks trying and failing to get Stripe's Bitcoin integration working on our site.

The short version is that Stripe guaranteed a USD BTC exchange rate for an hour, after which they would automatically cancel the transaction. Given that most transactions now take well over an hour to be verified on the blockchain, that means basically every transaction fails.

Re: Ending Bitcoin Support

#19

Post by cortesoft » Tue, Jan 23, 2018, 7:13 PM UTC

nvk wrote: post #8

They should have replaced it with Lightning Network, is amazingly fast and cheap and works on top of Bitcoin. I'm running a test node, this stuff really works! > Lightning is a decentralized network using smart contract functionality in the blockchain to enable instant payments across a network of participants. In case you are curious https://lightning.network and another good resource here https://www.reddit.com/r/B…

They mention in the post that they are interested in lightning.

Re: Ending Bitcoin Support

#20

Post by Zaheer » Tue, Jan 23, 2018, 7:14 PM UTC

mankash666 wrote: post #5

Ethereum transaction fees are still in cents. They should start supporting it as a form of payment.

Side-questino: Does ETH as a coin benefit from all the coins that are built on top of Ethereum network?