Critique toward Bitcoin and custodial Lightning Network usage seem to suffer from nirvana fallacy: "Bitcoin (in it's current form) won't allow every single transaction in a hyperbitcoinized world to take place in L1 or even L2, thus Bitcoin is trash."
Yet they miss that an immutable final settlement layer and a "trustless banking layer" aka. Lightning Network results high competition for custodial solutions which results with IMMENSELY better banking services compared to the government granted banking cartel we have now.
Just because Bitcoin transactions don't (at least yet) scale to easy global trustless payments, it doesn't mean it's not an improvement.
celestal
npub1jl…fkpe9
2023-07-23 16:45:29
Author Public Key
npub1jlvqnts9f5c0t8lmd73mea3mmkn2jq5qhwvtaakkax7d3k3thkys2fkpe9Published at
2023-07-23 16:45:29Event JSON
{
"id": "cbebcccf7eaeeebb999e067da750b6ab2aeaee786dc055ef7c0bb18a1241ad2f",
"pubkey": "97d809ae054d30f59ffb6fa3bcf63bdda6a90280bb98bef6d6e9bcd8da2bbd89",
"created_at": 1690123529,
"kind": 1,
"tags": [],
"content": "Critique toward Bitcoin and custodial Lightning Network usage seem to suffer from nirvana fallacy: \"Bitcoin (in it's current form) won't allow every single transaction in a hyperbitcoinized world to take place in L1 or even L2, thus Bitcoin is trash.\"\n\nYet they miss that an immutable final settlement layer and a \"trustless banking layer\" aka. Lightning Network results high competition for custodial solutions which results with IMMENSELY better banking services compared to the government granted banking cartel we have now. \n\nJust because Bitcoin transactions don't (at least yet) scale to easy global trustless payments, it doesn't mean it's not an improvement.",
"sig": "e7e91d85edddbc73855de124067ff4e39250f2591a5b2c09d08d79b31e51e201100704d84c3380e2ca90372f95048dd64de3f358f544417e646109d0990d76f4"
}