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120d · Bitcoin
All complex systems that work evolved from simpler systems that worked.
- Gall's Law

This is why #Bitcoin Cash works and Lightning never will.
Calm_down_stupid 15kFCL
replied 120d
LN was a really bad solution to a problem that should not have happened.
replied 120d
LN is broken by design.
x2dm
replied 120d
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.
replied 120d
Ok. You are right. I should write that LN based on BTC is broken by design.
x2dm
replied 120d
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.
x2dm
replied 120d
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.
replied 120d
Fees are high and still people are not using it.
replied 120d
Rick Falkvinge pointed it out years ago. People won't use it because opening and closing the channels will be too expensive.
replied 120d
All must-watch vids. TL;DR: LN will *never* save BTC


replied 119d
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.
replied 120d
LN could have its niche on a chain that is not crippled.
x2dm
replied 120d
Actually, LN evolved from tabs, OTC trading and hawala. I think it's a great idea and a logical extension of simpler systems that worked, even on Bitcoin
x2dm
replied 120d
(i.e. the payment channels Mike Hearn was working on years ago, before block size was even an issue). It just can't work on BTC, but don't throw out the baby with the bathwater.
x2dm
replied 120d
Let's not demonize a clever technology just because some Core idiots are using it the wrong way.