Great news from LN: According to Decker
In addition to the talk about scaling, Decker explained that using the lightning network would be impossible to track sending/receiving bitcoins, as long as the user has more than one open channel.
After all this, Bitcoin Cash fans are still surprised by all the positive about the lightning network.
Quote from: https://coinjournal.net/scaling-layer-2-and-cryptographic-innovations-discussed-at-consensus-2018/
each channel can process about 500 transactions per second. With thousands of channels being utilized at once, Bitcoin could theoretically scale beyond not only any other cryptocurrency but any other payment method, including VISA.
In addition to the talk about scaling, Decker explained that using the lightning network would be impossible to track sending/receiving bitcoins, as long as the user has more than one open channel.
After all this, Bitcoin Cash fans are still surprised by all the positive about the lightning network.
OK,
Sorry to Burst your Bubble, but Any Coins , even the ones that don't use segwit or LN can all achieve Unlimited OffChain Scaling.
All they have to do is be on Multiple exchanges that offer Offchain Transactions such as Cryptopia or Trade Satoshi or any other 3rd party that wants to offer offchain transactions. Also since their transactions are offchain, no tracking is possible, unless the exchange complies with a warrant.
(But if no one know what exchange you are using , they would not know where to send a warrant. )
The Exchanges work right now without the complexities / confusion of LN.
Here is the kicker , any coin on the exchange can do it.
Exchanges don't have the time locks or limitations of LN and will probably be cheaper than LN fees.
Time will tell.
FYI:
LN hubs , use their own LN Notes (promises to redeem/pay bitcoin), all LN hubs will be required to conform to AML/KYC regulations.
So LN transactions will not stay private and will be reported.
No Governments are going to allow LN Hubs=Unlicensed Banks to bypass all of their AML/KYC regulations.
They will eventually require a banking license for all LN Hubs and full reporting compliance.