I do not agree.
Little premix: I use LN everyday and I consider myself pretty savy about it. I like it, i like the business opportunities that it creates, like the UX of good LN products. L2 is not only LN, agreed, but we can only talk about what exists, so I'mm refer to it.
1) If you cannot settle a channel balance onchain, you are not sovraign. If you hold a 100'000 sats UTXO onchain, at fee peak you weren't economically able to spend it without draining more than half of the UTXO in fees. These are truths. The result of it is that in the future 100k sats could be a good amount of money, but maybe fees will be no high that it does not make sense to hold UTXO onchain.
2) The World is made of people that cannot go about their days always thinking about bitcoin and the majority don't even have the opportunity to save enough to buy some sats, I cannot imagine them buying a UTXo and paying fees high as hell. These guys will be relegated to higher layer solutions, without the change to settle onchain.
I'm not advocating for on-chain scaling, don't get me wrong. But the virtue signaling in our industry must take into account reality. Some halfway reality checks would be very very healthy.
tolot /
npub1lnj…8v28
2024-05-12 16:49:47
in reply to nevent1q…29cn
Author Public Key
npub1lnjpw7at64lkf5cz5lcymdx3zayc8c60hlp8ykqxpjcjlagyehyqlr8v28Published at
2024-05-12 16:49:47Event JSON
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"content": "I do not agree.\n\nLittle premix: I use LN everyday and I consider myself pretty savy about it. I like it, i like the business opportunities that it creates, like the UX of good LN products. L2 is not only LN, agreed, but we can only talk about what exists, so I'mm refer to it.\n\n1) If you cannot settle a channel balance onchain, you are not sovraign. If you hold a 100'000 sats UTXO onchain, at fee peak you weren't economically able to spend it without draining more than half of the UTXO in fees. These are truths. The result of it is that in the future 100k sats could be a good amount of money, but maybe fees will be no high that it does not make sense to hold UTXO onchain.\n\n2) The World is made of people that cannot go about their days always thinking about bitcoin and the majority don't even have the opportunity to save enough to buy some sats, I cannot imagine them buying a UTXo and paying fees high as hell. These guys will be relegated to higher layer solutions, without the change to settle onchain.\n\nI'm not advocating for on-chain scaling, don't get me wrong. But the virtue signaling in our industry must take into account reality. Some halfway reality checks would be very very healthy.",
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