Replying to Avatar BTCapsule 🏴

- Roger actually provided one of the biggest criticisms of Craig. Yes, he believed Craig was Satoshi; but if you remember everyone laughing at Craig because he didn’t know Bitcoin addresses have a checksum- it was Roger who said this.

- yes, the trade offs of Lightning are far worse than the trade offs of big blocks. Constant online connectivity is not good. But there are many more problems with Lightning. There is a reason most people use custodial wallets, and it’s going to get much worse.

- many prominent Bitcoiners are recommending MSTR and I’ve even heard it compared to a Bitcoin ETF. I really don’t care, but it seems a little hypocritical to pump a centralized stock just because it’s associated with Bitcoin. The association with Bitcoin and the inevitable pump and dump is what makes it an affinity scam.

- the privacy tools on Bitcoin do not compare to Monero or zCash. They are also very difficult for the average user to understand, and splitting UTXOs in a high fee environment is not a good UX. Confidential Transactions are not private transactions. These L2 providers have to stay legal.

- BIP300 will be available on Bitcoin very soon. Soft forks don’t require consensus, and that is why they work so much better than hard forks.
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Nyoro~n 1y ago

Using lightning you have to consider what you get with those trade-offs, it's not all negative. There are combinations of frequency, duration, and nominal value for transactions that make sense to use lightning as-is already. For example, if a user is constantly making transactions with high frequency, then the "always-on" trade-off isn't much of a factor.

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BTCapsule 🏴 1y ago

Please read over this. It was put together by Paul Sztorc, but it is just a bunch of quotes and links to the biggest names in Lightning explaining why it’s broken and the many misconceptions.

https://www.truthcoin.info/blog/ln-blackpill/