Sufficient for those who still do intermittent, relatively large, cross-jurisdiction, low-priority transactions and didn't already flee to altcoins in 2017 thus dropping demand for bitcoin block space.

Why should billions of people run lightning nodes? What does it mean to adequately fund a channel and how do I judge that? It might be straightforward to do it now, but if bitcoin was fine without any changes, why do I need to go set up infrastructure to use it?

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this is why the blockspace is cheap... and you simply can't do OTC POS with such a slow and unpredictable settlement time