Mr. BuddyWith the drama over the delayed ETF this week I feel an important story got buried in the process. I know it's old news now, but I want to redirect everyone's attention back to the announcement of Bakkt and a related article about the vision of the people/company behind it. If you haven't already read this article, you should: http://fortune.com/longform/nyse-owner-bitcoin-exchange-startup/. Think of the possibilities for Bitcoin adoption/use e.g. BTC trading pairs against commodities, bonds and other financial instruments... huge!
Speaking of LN, the Fortune article says Bakkt will operate on a second layer solution "closely resembling ... the lightning network." I'm very interested in finding out how 'closely' and what that means for wider adoption. A successful implementation of this magnitude could open the doors to LN channels between major institutional trading houses, banks, hedge funds, etc. globally. And poof!* just like that, SWIFT and USD hegemony are no more (*I know, I know it'll be like 10+yrs, I can dream).
Sjmaliz@buddy I think they really mean something more similar to liquid a federated sidechain where there is liabilities to the federation. For them to build a lightning network just doesn’t make sense to me with the way lightning works
Internaut 🚀@internaut @Sjmaliz My first thought was they were referring to a fancy database, but their description got me hoping.
@internaut @buddy I think it would be more simple than oracles. They will be centralized chains that exchange btc for something else. Btc will not be actually transacted for coffee
CapDog@buddy They're working with Blockstream in official capacity IIRC, so Liquid is most likely.
Bitmaster177⚡@capitalist_dog @buddy oh yeah i did read about block stream being partners with them. Liquid does support the LN as well maybe it be sometype of LN atomic swap?
@bitmaster177 @capitalist_dog @buddy @instagibbs I am almost certain Blockstream is not a technology partner with Bakkt. It would have been announced in the PR.
@bitmaster177 @capitalist_dog @buddy @instagibbs Bakkt did not mention them. Afaik, Blockstream only has a deal to provide ICE with data feed. Not sure about the rest.
@bitmaster177 @capitalist_dog @buddy @instagibbs
No mention of Blockstream.
@internaut @capitalist_dog @buddy @instagibbs why do they need to mention? Most of their product is unknown
@bitmaster177 @capitalist_dog @buddy @instagibbs
It would be extremely strange not to mention your major technology partner, almost insulting.
@internaut @capitalist_dog @buddy @instagibbs but the way they said federated systems and them being partners is probably Liquid .More details do need to come out but Blockstream is involved in some way
@bitmaster177 @capitalist_dog @buddy @instagibbs
It would be great for Blockstream, of course. I hope they do get press from ICE/NYSE at least.
@internaut @capitalist_dog @buddy @instagibbs by the looks of it Bakkt did retweet the blockstream tweet as well. Only time can tell. I bet the team doesn't even know what they are going to do and just hired blockstream lol
@bitmaster177 @capitalist_dog @buddy @instagibbs afaik Blockstream has a deal supplying ICE with price data: https://blockstream.com/2018/03/29/ice-data-services-cryptocurrency-data-feed-is-live.html
btcFUD@buddy It sounds like Bakkt would like to be the Lightning Network for those that don't want to hold their own private keys. Right now there are need-to-be-online hurdles with LN. There's an aspect of how easy it ends up being for the community to self-host vs needing external help to run their settlement layer that will play into the adoption curves of each system.
AnonByNature@buddy
I couldn't agree more. Bear markets aren't moved by good news. Bull markets fly with just mentions in the news.
I couldn't agree more. Bear markets aren't moved by good news. Bull markets fly with just mentions in the news.
PrivateKey@AnonByNature @buddy I think it's.more than people don't understand (or believe) the news. Not YET, but hopefully they will soon
@PrivateKey I think they are slated for a November launch so I'm excited to see how quickly they can get the ball rolling.
@buddy Yea, Things could get very exciting very fast.
TallTim📈📉💰@TallTim Your comment reminds me of their surprise BCash listing last December. The sequence of events (from early Nov to the listing day) including the perfectly timed network congestion gave the impression they were part of a coordinated attempt to induce the flippening. Unforgivable.
@buddy The dominoes did seem to be rather closely aligned. 🌩️ LN was the best thing to ever happen, makes the #altfork crew gnash their teeth every single day. #altfork #lightning #saltcoiners