What is your ‘plan B’ if Lightning doesn’t work? What is the effect of second layers on fees for miners?
These questions are from the Bitcoin Munich meetup and the CryptoCompare Digital Asset Summit, which took place on June 27th and June 12th 2019 respectively. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop
RELATED:
Bitcoin, Lightning, and Streaming Money – https://youtu.be/gF_ZQ_eijPs
The Internet of Money: Five Years Later – https://youtu.be/6xIq0FdmsIA
The Lightning Network – https://www.youtube.com/playlist?list=PLPQwGV1aLnTurL4wU_y3jOhBi9rrpsYyi
Wallets, nodes, and monetary sovereignty – https://youtu.be/8Hb3tUn8s4E
Honest nodes and consensus – https://youtu.be/KAhY2ymI-tg
Node compatibility, Lightning, and incentives -https://youtu.be/x1on0sdTU4M
Why running a node is important – https://youtu.be/oX0Yrv-6jVs
Software distribution security – https://youtu.be/_V0vqy046YM
Protocol development security – https://youtu.be/4fsL5XWsTJ4
What is rendezvous routing? – https://youtu.be/vnDiJJoPESo
Unspent transaction output (UTXO) – https://youtu.be/ZCsakXHiwlw
Lightning clients, capacity, and dust – https://youtu.be/HFJRXYkbyPQ
Lightning usability, privacy, and Taproot – https://youtu.be/_M-i1c3mE1w
How to get people to care about security – https://youtu.be/Ji1lS9NMz1E
Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in Bitcoin. He is the author of “Mastering Bitcoin,” “The Internet of Money” series, and “Mastering Ethereum.”
Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/
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MASTERING BITCOIN, 2nd Edition: https://amzn.to/2xcdsY9
Translations of MASTERING BITCOIN: https://bitcoinbook.info/translations-of-mastering-bitcoin/
THE INTERNET OF MONEY, v1: https://amzn.to/2ykmXFs
THE INTERNET OF MONEY, v2: https://amzn.to/2IIG5BJ
Translations of THE INTERNET OF MONEY:
Spanish, ‘Internet del Dinero’ (v1) – https://amzn.to/2yoaTTq
German, ‘Das Internet des Geldes’ (v1) – https://amzn.to/2LEiyqO
German, ‘Das Internet des Geldes’ (v2) – https://amzn.to/2VCzse5
French, ‘L’internet de l’argent’ (v1) – https://www.amazon.fr/Linternet-largent-Andreas-M-Antonopoulos/dp/2856083390
Russian, ‘Интернет денег’ (v1) – https://www.olbuss.ru/catalog/ekonomika-i-biznes/korporativnye-finansy-bankovskoe-delo/internet-deneg
Vietnamese, ‘Internet Của Tiền Tệ’ (v1) – https://alphabooks.vn/khi-tien-len-mang
MASTERING ETHEREUM: https://amzn.to/2xdxmlK
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In order to upscale enough for a massive use of LN BTC bandwidth will not be insuffisant even for channels openings/closures traffic. Users will have to use custodial services most probably owned by banks (see DCG links with Blockstream) . That will be the end of the bitcoin as a ''p2p electronic cash system''. IMO bitcoin has pushed the bandwidth/security cursor too far (99,9% security / 0.01% bandwidth) and can't go backwards. Bitcoin dilemma : if It works (lot or users) it fails, if It fails (few users) it works. Just my 2cts.
@hermannschmidt…Im sorry, but are you flying around the world giving speeches? Nooo….so shutup, listen and learn, or go watch the smurfs ya tool
many plans.. A,B,C, Z .. AA .. what a bullshit
Andreas' enthusiasm is contagious!
Its called Moores law
If your willing to accept any scaling solution, why rule out bigger blocks.
I love this guy
I can't wait till Bitcoin goes to the moon! I love paying $100 fees for Bitcoin transactions! It's for my security. I feel so safe. 100x returns incoming
Andreas, Could we hear your thoughts on NANO, please?
As much as I respect Andreas for his competence, his comparison to the internet when it comes to scaling falls short. To scale the internet you just install more and better of the same. Done. Bitcoin? Nope. Can't do that. Scaling Bitcoin is a totally different class of problem.
IP: "Great news Andreas, we now guarantee you 100 domegemegrottebytes of bandwidth."
Andreas: "Hold my beer."
hi im running thunder on layer 42 and im getting redundancy errors help. :3
AA is misguided with scaling. He thinks we should limit scaling to prevent innovative solutions. He is wrong about this. Second layer scaling is unBitcoin. Sure, make the options available, but don't stop scaling onchain.
The Elon Musk of Crypto?
"Bitcoin isn't for people who live on less than $2 a day."
— Samson Mow, Blockstream
One of the rare times I disagree with Andreas. The scaling is already occurring, it's just not happening on Bitcoin. People are leaving in droves and creating new platforms without Bitcoin's limitations, creating things like Nano, Digibyte, Stellar…hell, even Ripp– (just through up a little in my mouth). We have Chainlink and Tezos, Holochain and Ethereum, Cardano and Enjin Coin. The thing that ties all these together isn't Bitcoin.
The issue we're facing today is the hardcore community who think Bitcoin is the new internet, and unfortunately those are the people with the biggest funds right now. But Bitcoin isn't the new internet, just like Apple wasn't the new "phone". The underlying technology that Bitcoin is built on is the new internet, Bitcoin was just the iPhone that convinced everyone blockchain could be for the people.
LOL all of those "plans" could have been done EVEN IF they had increased the block size so this is all smoke and mirrors proving that Bitcoin Core doesn't give a shit about Bitcoin replacing credit cards or bringing banking to the world's unbanked. At $6.00 per transaction (last peak) or $55 per transaction BTC has proven they've abandoned their users and coddles the "hodlers".
Andreas is The most intelligent crypto figure and visionary on the planet today..
Andreas, honest question, can you say why BCH is wrong by slowly increasing the block size?
Bitcoin Cash already has Schnorr Signatures
Always Accurate ?
Such awesome arguments! I wish you would be on CNBC and other interviews. People representing BTC are really really bad at explaining and providing great arguments as you do.
I just say Respect to your awesome awesome work. Keep being awesome 😀
Cheers
Tidy ?
Could Short .coms be ideal for compressing addresses?
Dash?
Bch? works
Just sounds like the band aids aren't helping
Actually, there is solution to scaling … ditch the fully decentralised model. Its a shame you promote this as the ideal architecture, because it comes with a host of serious problems with very few benefits.
What happens if aliens visit us and they perceive our intelligence like we perceive a 3 year olds intelligence and they think "Bitcoin? Oh that's cute! Hold my beer…" Then they hack Bitcoin and remove all our Bitcoins from our wallets just to watch us wake up the next day and freak out.
IOTA 2
@ 8:05 IOTA …
Andreas should visit India and educate indian crypto currency comitee..The way you educate Australian and Canadian senate.
He didnt the answe to the question "What happen to the security of the network?". His assumptions here is that other SHA256 chains wont exist in which case it might be true. But BSV is there to kill every other shitcoins.
BSV is Bitcoin
Read the Whitepaper !!!
Hey Andreas what is your opinion on POS protocols?
what does he say at the start "yeaaahh we got a bee catcher in the house" ? i dont get it
Andreas is Satoshi…who else agree with me
First