Yeh lets abandon the Bitcoin Network and jump on xrp version 2 lightning network (LN) instead.
I beg your pardon ?
Lightning
IS Bitcoin.
Lightning transactions are not on chain, so they are therefore not Bitcoin transactions. So if LN txs are not Bitcoin txs, it follows that ...
I'm not trying to claim that LN is useless. It will likely have benefits for some limited applications. But to pin BTC's future on it when simpler methods were available... smh.
Going to have to pull you up on that one mate... LN Opens and Closed channel onchain. therefore they are BTC transactions.
Just no. The opening and the closing are Bitcoin transactions. All the in-channel transactions are NOT Bitcoin transactions. Sorry. This should be obvious.
On another note, i don't know why people are discounting LN. This is some awesome development/technology. What you see now may be different in 5 -10 years from now, there alot of smart people with forward thinking minds.
I'm only 'discounting' LN against the absurd claims made for it. As a layer 2 protocol, I'm completely whatevs with whatever all y'all want to do with a layer 2 thingy. The galling thing is that the underlying base protocol was intentionally crippled in order to implement LN. The fact that such crippling wasn't even necessary only adds insult to injury, and calls into question the motives and wisdom of those who advocated for such.
We will see which "peer to peer payment" system will survive in 30 - 40 years from now.
I think we will see that having such a massive database was the death of BCH.