LN isn't broken, BTC is broken. LN is a great idea with major advantages for certain use cases. It's just that, ironically, it only works well when network fees are quite low.
Ok. You are right. I should write that LN based on BTC is broken by design.
As I've been saying for years: LN should be implemented on BCH, where it will actually work. It was never designed to replace a non-functional Layer 1, only to augment it.
BCH has little need for LN right now, but if BCH were adopted on a large scale, that would change. LN is great for very small (particularly recurring) microtransactions.
Fees are high and still people are not using it.
Rick Falkvinge pointed it out years ago. People won't use it because opening and closing the channels will be too expensive.
All must-watch vids. TL;DR: LN will *never* save BTC
Yeah it makes me laugh when people call LN a great idea. Just shows they have no clue about engineering. Or, please answer Falkvinge's points precisely and in detail to prove me wrong.
