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Can someone answer these arguments about Bitcoin and lightning

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by COINS NEWS 91 Views

If you want to use it non-custodial, you need a 100% uptime connection or risk losing all your funds. So already a non-starter. Opening/closing/changing balance needs an onchain transaction, so doesn’t really help with scaling. Channel management sucks, if you don’t have an income stream paid via lightning, you’ll have to constantly rebalance your channel, and you’re limited by others liquidity. If you are paid more than you spend eventually you have to rebalance as well. Since you need to do an onchain transaction to close, you might find it difficult to do so as you chain fees vary over time.

It stupidly tries to solve Bitcoin scaling, and is itself dependent on Bitcoin's scaling.

LN's own white paper admits that its claims of scaling up Bitcoin for global adoption only works on a fictional version of Bitcoin. One where Bitcoin's TPS is increased thousands of times first.

LN's own conclusion of a "solution" is that Bitcoin needs to scale itself up by orders of magnitude. lol

Bitcoin's TPS is so hilariously bad it is literally too slow just to use it once or twice to onboard the world into some half-baked layer 2 "solution." And by "too slow to use it," I mean there's only enough for every adult on earth to get 2 transactions on it in their entire lives. That is literal, not hyperbole.

submitted by /u/Electrical_Catch
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