Quote from: BrewMaster on January 10, 2020, 02:32:27 PM

Quote from: mda on January 10, 2020, 11:53:28 AM

Quote from: Khaos77 on January 10, 2020, 11:27:07 AM

LN steals transaction fees from BTC for it's offchain network

Transaction fees can go trough the roof so it isn't a problem as many on this forum will reassure you.
The problem is LN dependence on timelocks that will wreak havoc on the world if level 1 gets disabled for an extended period of time.

bitcoin is not ethereum to have its entire network crash entirely just because there was a fee rise. the higher fees don't "disable" the bitcoin blockchain, it will just cost more to have your transaction mined faster.

Would you pay $100 to move $10 , $20, $50?
Most people won't. For them it does disables bitcoin.
Also ends any merchant adoption.

It totally destroys BTC utility as a payment system for anyone not transmitting $10000 or more.
Even then just paying by credit card or check or paypal or anything else makes more sense.

FYI: It is amazing how short term most of the people memories are here.
https://arstechnica.com/tech-policy/2017/12/bitcoin-fees-rising-high/

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Skyrocketing fees are fundamentally changing bitcoin
Fees as high as $28 are destroying bitcoin's value for small payments.

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High fees are pushing companies away from bitcoin

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This is an existential crisis for any business built around facilitating smallor even medium-sizedbitcoin transactions.
If $5 transaction fees were enough to sour a few businesses away from using the platform, we can expect $20 fees to chase away a lot more.
And if bitcoin's speculative mania continues, the fees could easily go even higher.