To start: I use on-chain Bitcoin, and I use Bitcoin LN. Bitcoin can work with or without LN,
LN can't work without Bitcoin. I don't like high fees, as it limits adoption. I would like to see Bitcoin grow in value, userbase and number of transactions per second, and I think we need all three of those for Bitcoin to grow.
How, that's up for debate.
LN is a different network for a reason. it has its own usecase and niche and utility that differs from bitcoins.
ok i must start with the first fatal flaw.
LN CAN infact work without bitcoin. LN's function allows it to peg to different blockchains. its usability of LN is not fixed to only work with bitcoin. nor is it under any condition that the another altcoins can only work on LN if LN is pegged to bitcoin at the same time
My opinion regarding the Lightning Network can be interpreted by the following example I've written;
Picture it as following; bitcoin is a type of metal and you ought to store it in a safe place. However, you can't pay with a metal for everyday transactions. Thus, you go to a guy who's willing to give you the option to give him a portion of your bitcoin in exchange for the ability to create agreements with other people who have also given their bitcoin this way. Now you can transact without touching your metal at all. It's faster, cheaper and smarter way to transact.
That being said, add that this guy cannot cheat or lie to you in any way. You've handed out your coins, but they can't steal them from you. You're free to withdraw their promise for BTC anytime you want without their permission. (Which means that, essentially, it's not a promise)
Fuckin' genius I'll say.
to this he is very much expressing how bitcoin is like gold. and LN is like bank notes.
however there are many ways to cheat the joint bank account partner.
many devs and LN users have lost funds. even with "punishment" clauses attached