andreas antonopoulos donation
See image below. Another way to interpret that number is less than 4,000 institutions or merchants have actually put their trust in LN to have their own node and start accepting payments. In April 2014, Antonopoulos organised a fundraising campaign for Dorian Nakamoto, who was identified in a Newsweek article as the creator of bitcoin, Satoshi Nakamoto. Most people in Bitcoin are familiar with Andreas Antonopoulos. Win up to $1,000,000 in One Spin at CryptoSlots, SEC Bitcoin Blunder: Regulator Accuses John McAfee Of “Scalping”, Bitcoin Could Soon Rocket to $11,900 as Consolidation Phase Nears Its End, Bitcoin Turns Lower Ahead of Powell’s Economic Outlook; What to Expect, Bitcoin Forms Pivotal Long-Term Uptrend Signal Last Seen in 2014, Dwindling Bitcoin Volatility Could Lead To Decisive Move, Bitcoin Defies Gravity, But $10,900 Still Presents Strong Resistance, Yearn Finance Connect (YFIC) New DeFi Project Decentralized Finance, Staking, Lending & Yield farming, deepTradeBot Shares Their Roadmap for 2020-2021, Security Breeds Prosperity, KuCoin Launched “Safeguard Program”. It is evident Bitcoin could effectively achieve the same goal. He is a great speaker at events, successful author, and doesn’t get involved in Bitcoin politics. Whether or not situations like these will force people to altcoins, remains to be seen. A consistent, baked-in low fee payment protocol is key in any mass adoption scheme. One particular donation had almost 10 times its original value in transaction fees. In theory, LN on paper would be a nice way to spend BTC in places such as Venezuela, where high transaction fees would literally cripple an already shaky economy. Join our Telegram feed to make sure you never miss a post. NewsBTC is a news service that covers bitcoin news, technical analysis & forecasts for bitcoin and other altcoins. The recent Andreas Antonopoulos donation spree only confirms as much. However, paying double digits in fees to spend a buck and a half is not acceptable whatsoever. LN is nowhere near that objective, and small donations help illustrate why. , the ecosystem is evolving in the wrong direction. Redditor /u/don-wonton makes an interesting point: payments in Lightning Network are made through invoices, and without knowing the actual amount of the donation it would be impossible. Such a development is absolutely unacceptable, to say the very least. What began as a nice gesture turned into an exposé of LN for being decidedly less than user friendly. He is a host on the Let's Talk Bitcoin podcast and a teaching fellow for the M.Sc. It is evident Bitcoin could effectively achieve the same goal. Follow CoinSpice on Twitter. The objective of bringing Lightning Network to the payment realm was to achieve scaling off-chain, while having the same ease of use, maintaining low fees for everyday payments and expenses. Unfortunately, this situation will remain rather problematic for some time to come. On his donation page, there is a cryptocurrency address for donating to a normal BTC on-chain address and a link to support him via Patreon through conventional legacy/fiat banking platforms. The problem is the liquidity of the channel because he would not want to spend his already earned money. See image below. Such a development is absolutely unacceptable, to say the very least. Digital Currencies at the University of Nicosia. Combine that with anecdotes about payments not processing, lost funds, and it’s no wonder hardly anyone uses LN. With these exuberant fees, the ecosystem is evolving in the wrong direction. In a recently published Reddit post, a user expressed the desire of asking Mr. Andreas Antonopoulos, a famous cryptocurrency advocate, about the possibility of his accepting donations in Lightning Network payments, a thing that he does not normally do. Bitcoin, security, entrepreneur, coder, hacker, pundit, humanist, pacifist. The maximum transaction amount appears to be around $717,000, a surprisingly low amount if we compare with the monstrous number transactions made on chain daily. Spending over $13 to send someone $1.5 is getting ridiculous. The capacity of the network for making transactions is also hampered by the lack of funds stored by nodes. 1.6k votes, 989 comments. It could have been a $15 donation straight to Andreas, but the fees made that impossible. This number is really low considering the number of payment transactions that are made on-chain every day and the number of wallets that exist.
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