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reddit_dataset_1

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text stringlengths 0 36.7k	label stringclasses 46 values	dataType stringlengths 0 36.7k	communityName stringclasses 46 values	datetime stringclasses 520 values
At the time? Less than 1%. Now? Aside from my business and some cash reserves, I'm 100% in BTC.	r/bitcoin	At the time? Less than 1%. Now? Aside from my business and some cash reserves, I'm 100% in BTC.	r/Bitcoin	2024-20-05
It wasn't a dream, it was a vision.	r/bitcoin	It wasn't a dream, it was a vision.	r/Bitcoin	2024-20-05
Your dreams aren't bullish enough 🙃	r/bitcoin	Your dreams aren't bullish enough 🙃	r/Bitcoin	2024-20-05
When it dropped to 56k i dreamt of 7$ bitcoin. Best and worst dream at same time	r/bitcoin	When it dropped to 56k i dreamt of 7$ bitcoin. Best and worst dream at same time	r/Bitcoin	2024-20-05
222k in 11 months, 88k next bear market bottom 2026/2027	r/bitcoin	222k in 11 months, 88k next bear market bottom 2026/2027	r/Bitcoin	2024-20-05
Wack.	r/bitcoin	Wack.	r/Bitcoin	2024-20-05
Your submission has been flagged for removal because it pertains primarily to altcoin discussion and/or promotion. Altcoins are off topic for the Bitcoin subreddit. Please post in the subreddit appropriate to that altcoin instead. Thank you. ^^I ^^am ^^a ^^bot ^^and ^^cannot ^^respond. ^^Please ^^contact ^^r/Bitcoin ^^moderators [^^directly ^^via ^^mod ^^mail](https://www.reddit.com/message/compose?to=%2Fr%2FBitcoin) ^^if ^^you ^^have ^^questions.	r/bitcoin	Your submission has been flagged for removal because it pertains primarily to altcoin discussion and/or promotion. Altcoins are off topic for the Bitcoin subreddit. Please post in the subreddit appropriate to that altcoin instead. Thank you. ^^I ^^am ^^a ^^bot ^^and ^^cannot ^^respond. ^^Please ^^contact ^^r/Bitcoin ^^moderators [^^directly ^^via ^^mod ^^mail](https://www.reddit.com/message/compose?to=%2Fr%2FBitcoin) ^^if ^^you ^^have ^^questions.	r/Bitcoin	2024-20-05
Hey there! I’m looking to add a small portion of bitcoin to my portfolio- and I keep seeing people say “buy it and add to a cold wallet”, but there’s no explanation as to why? In layman’s terms - what is the benefit to me buying in a cold storage wallet vs just buying and dollar cost averaging in my investment account?	r/bitcoin	Hey there! I’m looking to add a small portion of bitcoin to my portfolio- and I keep seeing people say “buy it and add to a cold wallet”, but there’s no explanation as to why? In layman’s terms - what is the benefit to me buying in a cold storage wallet vs just buying and dollar cost averaging in my investment account?	r/Bitcoin	2024-20-05
Over 70 crypto exchanges have gone under, and I would not be surprised if every single one took their customer's money with them. Certainly many people have lost money by leaving coins on an exchange, either via the exchange being hacked, "hacked", or simply going insolvent through reckless behavior. https://h17n.com/collapsed-exchanges/ https://en.bitcoin.it/wiki/Category:Defunct_exchanges If you want guidance on how to set up a self-custody wallet, check out [The Tordl Wallet Protocols](https://github.com/fresheneesz/tordlWalletProtocols) which are guides that show the whole process of setting up, using, and maintaining a self-custody wallet.	r/bitcoin	Over 70 crypto exchanges have gone under, and I would not be surprised if every single one took their customer's money with them. Certainly many people have lost money by leaving coins on an exchange, either via the exchange being hacked, "hacked", or simply going insolvent through reckless behavior. https://h17n.com/collapsed-exchanges/ https://en.bitcoin.it/wiki/Category:Defunct_exchanges If you want guidance on how to set up a self-custody wallet, check out [The Tordl Wallet Protocols](https://github.com/fresheneesz/tordlWalletProtocols) which are guides that show the whole process of setting up, using, and maintaining a self-custody wallet.	r/Bitcoin	2024-20-05
At least here in Canada, wealthsimple generates tax statements for your crypto so you can easily calculate what tax you owe if you sell any crypto. How would this work if you buy and then send it to a wallet? Would it count that transfer as a sale and a realized gain at that point and report it to the CRA as such? How do you calculate the taxes if you're buying regularly and transferring? My concern about transferring my WS Bitcoin is that the CRA will expect taxes to be paid on my gains once I transfer it, even if I haven't actually sold the Bitcoin. And I'm not sure how to calculate how much I actually owe without the tax statements generated by WS. I'm worried I'm going to have to hire an accountant just to deal with my crypto when I one day sell (not anytime soon!). Or if I transfer it to a wallet.	r/bitcoin	At least here in Canada, wealthsimple generates tax statements for your crypto so you can easily calculate what tax you owe if you sell any crypto. How would this work if you buy and then send it to a wallet? Would it count that transfer as a sale and a realized gain at that point and report it to the CRA as such? How do you calculate the taxes if you're buying regularly and transferring? My concern about transferring my WS Bitcoin is that the CRA will expect taxes to be paid on my gains once I transfer it, even if I haven't actually sold the Bitcoin. And I'm not sure how to calculate how much I actually owe without the tax statements generated by WS. I'm worried I'm going to have to hire an accountant just to deal with my crypto when I one day sell (not anytime soon!). Or if I transfer it to a wallet.	r/Bitcoin	2024-20-05
Having a cold wallet means YOU own the Bitcoin yourself. You and only you. Storing your Bitcoin with some entity means you are ceding control of it to them. Having bitcoin in some fashion in an investment account means you are trusting a company to hold your bitcoin. Depending on the person that may or may not be a worry. Because of the history of crypto exchanges being hacked, and the history of banks sometimes messing up people's money or failing, and because Bitcoin is the first time that we are able to actually own and store money digitally ourselves, people who understand Bitcoin prefer to hold their bitcoin themselves rather than trusting institutions. If you have total trust in your bank/exchange/investment firm as well as your govt (because ultimately the govt can decide if you are allowed or not allowed to access your money held in institutions) and you have zero worry of these being hacked, and you don't mind the possibility of sometimes having to jump through some bureaucracy loops simply to access your money, then you could let your investment firm hold it for you. But if ANY of those things concern you at all, this is one of the reasons Bitcoin was invented - so that you can store your own money digitally. Ultimately its up to you. But as this comment should make clear, there are very good reasons why you keep seeing people say buy it and add to a cold wallet. Its simply standard best practice for owning Bitcoin. There is rarely a reason to cede the ownership of your Bitcoin to institutions for any large amount of time. It's like asking why batters wear helmets in Baseball. Like, sure, the pitcher probably won't hit you in the head, but it WILL happen sometimes, and you sure don't want to be the person it happens to, so it simply makes sense to wear a helmet when you go to bat. It simply makes sense to own your bitcoin yourself in a cold wallet.	r/bitcoin	Having a cold wallet means YOU own the Bitcoin yourself. You and only you. Storing your Bitcoin with some entity means you are ceding control of it to them. Having bitcoin in some fashion in an investment account means you are trusting a company to hold your bitcoin. Depending on the person that may or may not be a worry. Because of the history of crypto exchanges being hacked, and the history of banks sometimes messing up people's money or failing, and because Bitcoin is the first time that we are able to actually own and store money digitally ourselves, people who understand Bitcoin prefer to hold their bitcoin themselves rather than trusting institutions. If you have total trust in your bank/exchange/investment firm as well as your govt (because ultimately the govt can decide if you are allowed or not allowed to access your money held in institutions) and you have zero worry of these being hacked, and you don't mind the possibility of sometimes having to jump through some bureaucracy loops simply to access your money, then you could let your investment firm hold it for you. But if ANY of those things concern you at all, this is one of the reasons Bitcoin was invented - so that you can store your own money digitally. Ultimately its up to you. But as this comment should make clear, there are very good reasons why you keep seeing people say buy it and add to a cold wallet. Its simply standard best practice for owning Bitcoin. There is rarely a reason to cede the ownership of your Bitcoin to institutions for any large amount of time. It's like asking why batters wear helmets in Baseball. Like, sure, the pitcher probably won't hit you in the head, but it WILL happen sometimes, and you sure don't want to be the person it happens to, so it simply makes sense to wear a helmet when you go to bat. It simply makes sense to own your bitcoin yourself in a cold wallet.	r/Bitcoin	2024-20-05
It does say on Wealthsimple's ToS that they do NOT insure Crypto. Only fiat.	r/bitcoin	It does say on Wealthsimple's ToS that they do NOT insure Crypto. Only fiat.	r/Bitcoin	2024-20-05
I'd definitely want to confirm if that is the case. If anything they should indicate the assets were transferred out, not sold. Just like if you were to transfer ~~funds~~ assets from WS to Etrade or what have you. Edited for clarity.	r/bitcoin	I'd definitely want to confirm if that is the case. If anything they should indicate the assets were transferred out, not sold. Just like if you were to transfer ~~funds~~ assets from WS to Etrade or what have you. Edited for clarity.	r/Bitcoin	2024-20-05
Your submission has been flagged for removal because it is not in english. Please consider submitting a translated version, or posting to a language specific bitcoin subreddit. Thank you. ^^I ^^am ^^a ^^bot ^^and ^^cannot ^^respond. ^^Please ^^contact ^^r/Bitcoin ^^moderators [^^directly ^^via ^^mod ^^mail](https://www.reddit.com/message/compose?to=%2Fr%2FBitcoin) ^^if ^^you ^^have ^^questions.	r/bitcoin	Your submission has been flagged for removal because it is not in english. Please consider submitting a translated version, or posting to a language specific bitcoin subreddit. Thank you. ^^I ^^am ^^a ^^bot ^^and ^^cannot ^^respond. ^^Please ^^contact ^^r/Bitcoin ^^moderators [^^directly ^^via ^^mod ^^mail](https://www.reddit.com/message/compose?to=%2Fr%2FBitcoin) ^^if ^^you ^^have ^^questions.	r/Bitcoin	2024-21-05
Your submission has been flagged for removal because it is not in english. Please consider submitting a translated version, or posting to a language specific bitcoin subreddit. Thank you. ^^I ^^am ^^a ^^bot ^^and ^^cannot ^^respond. ^^Please ^^contact ^^r/Bitcoin ^^moderators [^^directly ^^via ^^mod ^^mail](https://www.reddit.com/message/compose?to=%2Fr%2FBitcoin) ^^if ^^you ^^have ^^questions.	r/bitcoin	Your submission has been flagged for removal because it is not in english. Please consider submitting a translated version, or posting to a language specific bitcoin subreddit. Thank you. ^^I ^^am ^^a ^^bot ^^and ^^cannot ^^respond. ^^Please ^^contact ^^r/Bitcoin ^^moderators [^^directly ^^via ^^mod ^^mail](https://www.reddit.com/message/compose?to=%2Fr%2FBitcoin) ^^if ^^you ^^have ^^questions.	r/Bitcoin	2024-21-05
	r/bitcoin		r/Bitcoin	2024-20-05
How does bitcoin fix this?	r/bitcoin	How does bitcoin fix this?	r/Bitcoin	2024-20-05
Kyc	r/bitcoin	Kyc	r/Bitcoin	2024-20-05
Have KYC-free coins, then no one knows what you are doing with your money.	r/bitcoin	Have KYC-free coins, then no one knows what you are doing with your money.	r/Bitcoin	2024-20-05
Well $100 billion in quantitative easing loss, but it might be chump change compared to the $2 T loss!	r/bitcoin	Well $100 billion in quantitative easing loss, but it might be chump change compared to the $2 T loss!	r/Bitcoin	2024-20-05
why removed?	r/bitcoin	why removed?	r/Bitcoin	2024-20-05
To people using bitmart, avoid Bitmart at any cost. I have lost all my asset approx. $14k usdt. My account was used for what they call contra trading (buy high and sell low or simplyput fill order for shitcoin at excessively high cost and then sell it back low) so that the other beneficial(hacker) can drain the wallet and get the coins or usdt they want without needing to be transferred. I had all securities set up and for whatever reason they were all bypassed and I use a computer that is specifically for my trade. This computer turns off and disconnect the internet connection when my trading is done. Bitmart denied to provided me with a list of IP address to see who had gained an access to my account on the day when all my asset were gone. The trade history says this event happened less than 30 seconds. I immediately report right away (more specifically, I reported via email and trying to get hold of live support less than 30mins it happened). I actually sent several emails to get hold of the support as soon as possible on that day. Also chaning my password etc. to prevent further loss and until I can get the support team. Unfortunately, Bitmart responded back almost 5hours later it happened and took almost 20hr to start what they call their “review and investigate on my account” I had 3 email conversations so far. No better outcome or looks like the chance of recovery of my asset is slim. The person I talked is saying my account was acting normal with no sign of unauthorized action. Saying that that the team did investigated accordingly. THEN PROVIDE ME WITH something that I can see an ip access log!!!! Their legal provision says “It is very important that you regularly to ensure you notify us as soon as possible either by email at [email protected]” and “We are not responsible for any claim for unauthorized or incorrect transactions unless you have notified us in ACCORDANCE with this section”. I believe I have followed accordingly and all necessary steps to report this fraud trade and so Bitmart should be respond for my asset recovery Withdraw all your asset as soon as possible, never HODL in this exchange regardless of what amount people who might say “should have never keep cryptos at exchange wallet” this was not my case because I only trade “margin or futures”. My usdt needed to be there so I can either set a stop loss or limit order and keep the position open. I have been banned from the Bitmart reddit. I guess they dont want their true to be told.	r/bitcoin	To people using bitmart, avoid Bitmart at any cost. I have lost all my asset approx. $14k usdt. My account was used for what they call contra trading (buy high and sell low or simplyput fill order for shitcoin at excessively high cost and then sell it back low) so that the other beneficial(hacker) can drain the wallet and get the coins or usdt they want without needing to be transferred. I had all securities set up and for whatever reason they were all bypassed and I use a computer that is specifically for my trade. This computer turns off and disconnect the internet connection when my trading is done. Bitmart denied to provided me with a list of IP address to see who had gained an access to my account on the day when all my asset were gone. The trade history says this event happened less than 30 seconds. I immediately report right away (more specifically, I reported via email and trying to get hold of live support less than 30mins it happened). I actually sent several emails to get hold of the support as soon as possible on that day. Also chaning my password etc. to prevent further loss and until I can get the support team. Unfortunately, Bitmart responded back almost 5hours later it happened and took almost 20hr to start what they call their “review and investigate on my account” I had 3 email conversations so far. No better outcome or looks like the chance of recovery of my asset is slim. The person I talked is saying my account was acting normal with no sign of unauthorized action. Saying that that the team did investigated accordingly. THEN PROVIDE ME WITH something that I can see an ip access log!!!! Their legal provision says “It is very important that you regularly to ensure you notify us as soon as possible either by email at [email protected]” and “We are not responsible for any claim for unauthorized or incorrect transactions unless you have notified us in ACCORDANCE with this section”. I believe I have followed accordingly and all necessary steps to report this fraud trade and so Bitmart should be respond for my asset recovery Withdraw all your asset as soon as possible, never HODL in this exchange regardless of what amount people who might say “should have never keep cryptos at exchange wallet” this was not my case because I only trade “margin or futures”. My usdt needed to be there so I can either set a stop loss or limit order and keep the position open. I have been banned from the Bitmart reddit. I guess they dont want their true to be told.	r/Bitcoin	2024-20-05
I was not trading a shitcoin, please read the post again. Somehow my account got comprised. I only traded “futures” and had to keep my USDT to maintain my position or set a stop loss. My usdt was used to buy shitcoins so that the hacker could take benefit on their account end.	r/bitcoin	I was not trading a shitcoin, please read the post again. Somehow my account got comprised. I only traded “futures” and had to keep my USDT to maintain my position or set a stop loss. My usdt was used to buy shitcoins so that the hacker could take benefit on their account end.	r/Bitcoin	2024-20-05
What kind of futures did you trade ?	r/bitcoin	What kind of futures did you trade ?	r/Bitcoin	2024-20-05
I like LocalCoinSwap, it's non-custodial	r/bitcoin	I like LocalCoinSwap, it's non-custodial	r/Bitcoin	2024-20-05
One of the main arguments I always hear against bitcoin is that it cannot scale, it is slow and expensive, so X coin/currency/blockchain is better. In my opinion this scalability problem is not really a problem. Bitcoin does not need to completely replace all currencies and it does not need to handle everyday transactions all around the world (at least not on the base layer). Sure not everybody will be able to afford using bitcoin on the base layer when fees are spiking if more people use it but at least it is a fair system and the users themselves set the fees in a free market. I see bitcoin as a way to save purchasing power and I like the comparison with gold because you cannot use gold for for everyday transactions either and it has been a store of value for a long time. Whats way more important is that Bitcoin is secure, decentralized and limited in supply which makes it the best store of value out of all assets imo. Would love to hear more opinions on this topic.	r/bitcoin	One of the main arguments I always hear against bitcoin is that it cannot scale, it is slow and expensive, so X coin/currency/blockchain is better. In my opinion this scalability problem is not really a problem. Bitcoin does not need to completely replace all currencies and it does not need to handle everyday transactions all around the world (at least not on the base layer). Sure not everybody will be able to afford using bitcoin on the base layer when fees are spiking if more people use it but at least it is a fair system and the users themselves set the fees in a free market. I see bitcoin as a way to save purchasing power and I like the comparison with gold because you cannot use gold for for everyday transactions either and it has been a store of value for a long time. Whats way more important is that Bitcoin is secure, decentralized and limited in supply which makes it the best store of value out of all assets imo. Would love to hear more opinions on this topic.	r/Bitcoin	2024-20-05
Would love to argue with you but I feel the same way and have for a long time. Payment processors can handle smaller amounts but my savings are on-chain. As long as there are open layer 2's that don't expect KYC or any personal information from me I am happy to use them for smaller amounts. I'm also hopeful that more and more decentralised layer 2's are developed in the future.	r/bitcoin	Would love to argue with you but I feel the same way and have for a long time. Payment processors can handle smaller amounts but my savings are on-chain. As long as there are open layer 2's that don't expect KYC or any personal information from me I am happy to use them for smaller amounts. I'm also hopeful that more and more decentralised layer 2's are developed in the future.	r/Bitcoin	2024-20-05
It may not be a problem for Bitcoin but it is at least an opportunity for something else - another crypto or maybe still fiat, to be used for daily transactions.	r/bitcoin	It may not be a problem for Bitcoin but it is at least an opportunity for something else - another crypto or maybe still fiat, to be used for daily transactions.	r/Bitcoin	2024-20-05
It's been pretty obvious for many years that base layer is going to be used for "moving money around", ie large transactions, seeding a L2 address, moving savings, etc - low frequency, high value transactions. Higher layer solutions are going to be what is used for daily payments. Even the fiat payment system is built this way. You don't use the base layer of the banking system to pay for things, you use some higher layer. Credit cards, Venmo, Paypal, etc are all higher layer networks. If you want to use a lower layer network to pay quickly and directly you pay a lot more for that, like wiring money. In the banking system the lower layers have been hidden behind the higher layers for so long people don't even think about it. Which is why you get most people absurdly trying to compare Bitcoin's on-chain transaction capacity to fiat higher layer transaction capacity like VISA. Payment networks are built with security at the bottom, with usability and efficiency at the top. The way Bitcoin works, it makes sense to save money long term with on-chain txs (sending money to cold wallets) only occasionally to avoid excessive fees. And then use a higher layer network (like Lightning) as your checking and short term savings account - the equivalent to credit card / paypal / venmo / apple pay / google pay / etc. Ideally over the next decade or two we'll have several higher layer solutions built, and perhaps some built on top of others (L3), so people have options as to which network works best for their use case.	r/bitcoin	It's been pretty obvious for many years that base layer is going to be used for "moving money around", ie large transactions, seeding a L2 address, moving savings, etc - low frequency, high value transactions. Higher layer solutions are going to be what is used for daily payments. Even the fiat payment system is built this way. You don't use the base layer of the banking system to pay for things, you use some higher layer. Credit cards, Venmo, Paypal, etc are all higher layer networks. If you want to use a lower layer network to pay quickly and directly you pay a lot more for that, like wiring money. In the banking system the lower layers have been hidden behind the higher layers for so long people don't even think about it. Which is why you get most people absurdly trying to compare Bitcoin's on-chain transaction capacity to fiat higher layer transaction capacity like VISA. Payment networks are built with security at the bottom, with usability and efficiency at the top. The way Bitcoin works, it makes sense to save money long term with on-chain txs (sending money to cold wallets) only occasionally to avoid excessive fees. And then use a higher layer network (like Lightning) as your checking and short term savings account - the equivalent to credit card / paypal / venmo / apple pay / google pay / etc. Ideally over the next decade or two we'll have several higher layer solutions built, and perhaps some built on top of others (L3), so people have options as to which network works best for their use case.	r/Bitcoin	2024-20-05
The very first line of Satoshi’s white paper: “Abstract. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.” His vision was the replacement of currencies, not a store of value. That said, I agree with you, Bitcoin will likely continue as a steel-clad store of value and I invest in Bitcoin expecting that it will. I just expect that something else will fill that needed trustless electronic medium of exchange where Bitcoin simply can’t, whether that’s with a Bitcoin Layer 2 or a different solution.	r/bitcoin	The very first line of Satoshi’s white paper: “Abstract. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.” His vision was the replacement of currencies, not a store of value. That said, I agree with you, Bitcoin will likely continue as a steel-clad store of value and I invest in Bitcoin expecting that it will. I just expect that something else will fill that needed trustless electronic medium of exchange where Bitcoin simply can’t, whether that’s with a Bitcoin Layer 2 or a different solution.	r/Bitcoin	2024-20-05
I strongly suspect a different cryptocurrency will fill this gap to make peer-to-peer payments easy and cheap and Bitcoin will continue on as the “digital gold” where people will store wealth but not necessarily transact daily.	r/bitcoin	I strongly suspect a different cryptocurrency will fill this gap to make peer-to-peer payments easy and cheap and Bitcoin will continue on as the “digital gold” where people will store wealth but not necessarily transact daily.	r/Bitcoin	2024-20-05
The majority of bitcoin transactions today already take place on L2 and L3. Any application that uses its own internal database/ledger to track ownership of BTC among clients is an L2. Exchanges do this all the time. Also lightning works very well and is used quite prominently on networks like Nostr and many online merchants.	r/bitcoin	The majority of bitcoin transactions today already take place on L2 and L3. Any application that uses its own internal database/ledger to track ownership of BTC among clients is an L2. Exchanges do this all the time. Also lightning works very well and is used quite prominently on networks like Nostr and many online merchants.	r/Bitcoin	2024-20-05
Do you think those solutions could scale to be the volume of a worldwide economy transaction system? The American economy transaction system?	r/bitcoin	Do you think those solutions could scale to be the volume of a worldwide economy transaction system? The American economy transaction system?	r/Bitcoin	2024-20-05
Yes they could. If central banks decided to switch to a bitcoin standard, within a week everything we use as payments today would be L2 transactions on the bitcoin network - Visa, PayPal, venmo, Zelle, etc would all be L2 on BTC, and central banks would do final settlement on the base layer.	r/bitcoin	Yes they could. If central banks decided to switch to a bitcoin standard, within a week everything we use as payments today would be L2 transactions on the bitcoin network - Visa, PayPal, venmo, Zelle, etc would all be L2 on BTC, and central banks would do final settlement on the base layer.	r/Bitcoin	2024-20-05
I don't see a problem with LN for more transaction volumes. I didn't say they ONLY work for small transaction volumes. I simply said they already work. Period. So you are trying to put words into my mouth when you said "you say my point for me", because I was definitely not saying what you are claiming. LN sure needs improvements, but not in transaction capacity. LN can easily handle many times the current number of transactions. Unlike on-chain, it's bottleneck is not data capacity, it's bottleneck is transaction value capacity for each payment. Basically very large payments will work less well on LN, but LN isn't useful for very large payments anymore because it would make more sense to do very large payments on-chain because the fees will be cheaper for that kind of transaction. So no they don't need to change to support an economy. They can already do that. LN does need improvements for sure in various ways, but its basic design works for large number of transactions so that is not a problem.	r/bitcoin	I don't see a problem with LN for more transaction volumes. I didn't say they ONLY work for small transaction volumes. I simply said they already work. Period. So you are trying to put words into my mouth when you said "you say my point for me", because I was definitely not saying what you are claiming. LN sure needs improvements, but not in transaction capacity. LN can easily handle many times the current number of transactions. Unlike on-chain, it's bottleneck is not data capacity, it's bottleneck is transaction value capacity for each payment. Basically very large payments will work less well on LN, but LN isn't useful for very large payments anymore because it would make more sense to do very large payments on-chain because the fees will be cheaper for that kind of transaction. So no they don't need to change to support an economy. They can already do that. LN does need improvements for sure in various ways, but its basic design works for large number of transactions so that is not a problem.	r/Bitcoin	2024-20-05
Nah not putting words in your mouth. You explained it very well for me the first time :). I don’t think you understand the volume difference between the current transactions on LN, or any crypto for that matter vs an economy. It is your job to show theoretical proof than an L2 would be able to support this. Not my job to prove that it can’t. I have yet to see such proof. It’s cool there is an up and running L2 for Bitcoin though. You need to start somewhere	r/bitcoin	Nah not putting words in your mouth. You explained it very well for me the first time :). I don’t think you understand the volume difference between the current transactions on LN, or any crypto for that matter vs an economy. It is your job to show theoretical proof than an L2 would be able to support this. Not my job to prove that it can’t. I have yet to see such proof. It’s cool there is an up and running L2 for Bitcoin though. You need to start somewhere	r/Bitcoin	2024-20-05
Custodial services can basically handle infinite transactions. If Coinbase or Binance or Paypal or Venmo or in the future other custodians like banks that enter the Bitcoin space are making payments within their own network all they are doing is shifting around numbers in their database. And institutions that want to pass bitcoin between each other could just setup large LN nodes or just settle on-chain every once in a while for very small fees compared to the settlement amounts. And then LN itself can theoretically handle perhaps hundreds of thousands of transactions a second. I say theoretically because we'd still have to see how well it all works once the network grows to that size, there might definitely be issues to be worked out but the design is such that it allows that order of magnitude of transactions. So you really should have any worry about off-chain bitcoin transactions being able to handle that volume. There is no question the volume can be handled.	r/bitcoin	Custodial services can basically handle infinite transactions. If Coinbase or Binance or Paypal or Venmo or in the future other custodians like banks that enter the Bitcoin space are making payments within their own network all they are doing is shifting around numbers in their database. And institutions that want to pass bitcoin between each other could just setup large LN nodes or just settle on-chain every once in a while for very small fees compared to the settlement amounts. And then LN itself can theoretically handle perhaps hundreds of thousands of transactions a second. I say theoretically because we'd still have to see how well it all works once the network grows to that size, there might definitely be issues to be worked out but the design is such that it allows that order of magnitude of transactions. So you really should have any worry about off-chain bitcoin transactions being able to handle that volume. There is no question the volume can be handled.	r/Bitcoin	2024-20-05
Custodial services cannot handle infinite transactions. Wouldn’t that defeat the purpose of being a decentralized currency and the security of Bitcoin?	r/bitcoin	Custodial services cannot handle infinite transactions. Wouldn’t that defeat the purpose of being a decentralized currency and the security of Bitcoin?	r/Bitcoin	2024-20-05
can base layer allow for everyone to send transaction to fund a L2 address?	r/bitcoin	can base layer allow for everyone to send transaction to fund a L2 address?	r/Bitcoin	2024-20-05
What solutions are you referring 0\_o	r/bitcoin	What solutions are you referring 0\_o	r/Bitcoin	2024-11-06