Re: [ANN] BCash - Airdrop 1:1 of Bitcoin - Pro on-chain scamming - Old tech
Seems like a pretty limiting factor for LN if true
https://twitter.com/beijingbitcoins/status/983161737900736512
https://twitter.com/beijingbitcoins/status/983161737900736512
i think it's gonna be quite some time before we know what a lightning network can and can't do. i wouldn't pretend to have a clue. there are some very clear limitations right now. they might be solved, they might make sure it never amounts to a hill of beans.
it's a bit dumb how it became bitcoin's savior without most people having any understanding of what it really is. the jury's still out for me at least. i'm in no rush to set up a channel.
As long as people can get their tx on the next block with a 1-5sat/byte fee, most people will do exactly as you. LN has faster tx times than any other crypto network probably but for most people waiting for 10 mins isn't a big deal. But for those who want to spend their coins as fast as they spend their cash with credit cards, that's huge.
Imagine, with LN you'll be able to do your grocery shopping. Pay and go. Just like Visa.
Another good thing about LN is, there is now an exit door for us. If evils shits of bitmain again decide to spam the network, this time there will be an alternative. They'll be wasting their time and money while getting nothing in return. Even if those limitations don't get solved at all, being an alternative to the old on-chain is more than enough to make it valuable.