"Arguably the greatest drawback of the Lightning Network for Bitcoin users is that offline transactions are unsupported. Those who do not have immediate Internet access will be unable to participate; which is arguably counterintuitive for those first figuring out how to use the Lightning Network.

As the Lightning Network creates fast peer-to-peer channels for Bitcoin transactions, a buyer is heavily reliant on their seller to be responsive about transferring funds.

Lower fees for Bitcoin transactions can also be viewed in a negative light for the Bitcoin network. Once all Bitcoins have been mined, transaction fees will become the only financial rewards available to miners overseeing the Bitcoin blockchain. Without these fees, Bitcoin’s sustainability could be called into question."

-from the etoro academy

#foodforthought

#rabbithole

#bitcoin

Reply to this note

Please Login to reply.

Discussion

The use of custodial wallets mitigate this drawback but then, the major drawback becomes that it’s very complicated for even advanced #crypto users to use #lightning in a non-custodial way. Lightning isn’t a tech that can allow the democratization of #Bitcoin in its original form (P2P transactions).

Personally, that’s the reason I keep an eye on #eCash (#BitcoinCash fork) which aims to implement an on-chain scaling roadmap while preserving the core principles of the #Bitcoin whitepaper. It’s clear that Bitcoin doesn’t intend to scale on-chain. #XEC #BCH #BTC