Cryptocurrency: BTC-Lightning Fails - Santander Is As Dumb As Saylor Maxi's
grarpamp at gmail.com
Mon Jun 26 23:10:20 PDT 2023
BTC Lightning Sucks, plenty of videos explain of why that is, including...
- All parties must be online, also will not be used by antipodals
- No cryptographic level of privacy
- Only useful to preload (thus lockout) your funds
from all other possible [priority] uses that may arise.
- Only useful in a one way stream to a pre-known
single recipient, such as a grocer or biller.
- Bi-dir channels are made irrelevent by old school offline
difference-keeping with settlement later, for less fees
than all the channel and node bullshit would entail.
- Fees already invalidate most small purchases,
and will eventually eat up most other use cases since
they all ultimately require settlement onchain.
- Centralization regulatory nightmare.
Bitcoin-BTC will now only be used as value store, it's fees
will rise to alienate 90+% of humanity leading to paper
shareholding schemes over centralized custody pools,
and will, after one or two more huge waves, if left unchanged,
be eventually obsoleted by a simple private p2p cash in
the next 10 years. While riding the wave, seek the cash.
"WHO KILLED BITCOIN?"
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