Post
Topic
Board Development & Technical Discussion
Re: Does lightning network really solve the scalability problem?
by
Khaos77
on 31/05/2019, 17:23:30 UTC
will become just another banking system that is just as bad as what we already have.

Now you catching on to what they planned from the beginning.
 Wink

LN was never about scaling ,
it was about introducing a network that could add offchain fractional reserve Banking to Bitcoin while pretending not to.  Tongue

Offloading Bitcoin Transactions to Gift Cards or Exchanges do a better job and are easier to use than LN.
And just to be clear LN used incorrectly actually increases BTC onchain transactions instead of decreasing it.
https://bitcointalk.org/index.php?topic=5124663.msg50330030#msg50330030

For your consideration:
If I said the Bus was overloaded and that by you taking a Taxi,
that you increased the scaling capacity of the Bus, hopefully you realize that is bullshit.
Because the actual seating capacity of the Bus did not change, the person just used another form of transportation.

But yet, the people here ,
claim that by offloading transactions from Bitcoin to the LN network , that Bitcoin scaling is increased.
When the actual Number of the BlockSize was only increased to a max of ~1.7Mb from 1 Mb when no further plans to increase more.
In effect , limiting the future growth of the blocksize  to intentionally force high fees to force greater acceptance of LN offchain to those too poor to afford onchain transactions on a regular basis.  Tongue

Offloading is not the same as Scaling.

Scaling implies Bitcoin itself could handle the volume,
offloading mean LN can handle the volume and bitcoin can't.

LN is a 3rd party network that can work using any segwit coded coin,
Bitcoin has no monopoly on LN future plans , as litecoin with LN is to have even cheaper fee structures than btc with LN.
https://cryptobriefing.com/litecoin-lightning-network-100-nodes/
Quote
Charlie Lee suggested (and Crypto Briefing reiterated) that the comparatively high price of funding Lightning channels with Bitcoin made Litecoin a competitive alternative.