[nlperguiy]

All cryptocurrencies are a bubble.

Technology is still not there yet. There's no scaling solution anywhere in sight.

These valuations are for a product that does not exist.

If scaling miraculously comes then the price might hold, otherwise the transaction fees will grow up to a point that most small investors won't be able to make that 2nd layer entry transaction and will be stuck on the expensive 1st layer.

The price will then crash.

[gruez]

>Technology is still not there yet. There's no scaling solution anywhere in sight.

lightning network?

[astrodust]

The what what? This whitepaper? https://lightning.network/#intro

Show me some working software or this is all hand-waving bullshit. That thing's dated 2015, so where's it at?

[ric2b]

> Show me some working software or this is all hand-waving bullshit.

You're in luck:

https://play.google.com/store/apps/details?id=fr.acinq.eclai...

https://medium.com/@lightning_network/lightning-protocol-1-0...

There are currently 3 implementations by different teams being tested, all compatible with each-other and open-source.

No, it's not production ready, there are still plenty of bugs and missing features but it's close and you can go test it right now on testnet if you want to.

[astrodust]

> ...there are still plenty of bugs...

Yeah, well, that sounds like incomplete to me. Will it beat GNU Hurd to market?

Perl 6 shipped so anything's possible.

[ric2b]

You're shifting the goal-posts, there is working software and it's clearly not "hand-waving bullshit". It needs testing (which you can help with, it's all open) and improvements but it's definitely not vapor-ware.

[astrodust]

A potential solution is a lot different from an actual, working, trusted solution.

Elon Musk has plans to land people on Mars. He hasn't landed people on Mars.

If and when it goes live, sure, you've got a point. Until then it's just speculative.

[supernumerary]

steem scales, 1 million transactions as 7 day average. http://www.blocktivity.info/ as of today...

[thephyber]

Perhaps, but does the size of the blockchain (data and network bandwidth) scale as well?

Here's[1] a rough estimate of the growth of data on Steem.

[1] https://steemit.com/steem/@crokkon/steem-blockchain-size#@bl...

[astrodust]

What, you don't want your crypto client to need multiple 8TB drives just to boot up?

[CryoLogic]

IOTA is probably the closest to what you suggest

[slagfart]

My understanding is that IOTA has achieved scale by sacrificing the durability to DDOS/network spam attacks. See: https://www.reddit.com/r/Iota/comments/7egqk7/is_iota_really...

There's no such thing as a free lunch in distributed system design! If IOTA had solved for scalability without sacrificing other attributes, the technology would probably be integrated into other coins very quickly.

[fsiefken]

NEO, XRB and Byteball scale