Subnostr

Sometimes, I have impression that ‘LN’ only benefits for about 860,000 people (globally) & can in no way evolve if some authentic bitcoiners always opt for ‘On-Chain’ efficient of exorbitant payments.

Unless I am mistaken, I can therefore report that it isn’t #Bitcoin & that it sometimes seems like a “centralized scam” that Satoshi would disapprove 100%. (LN’s white paper needs to be examined).. Humm!

Anyone who contributes to the ‘LN’ would somehow avoid understanding ‘Bitcoin’ or try to take control on the Pleb…

(Node + Mining Farm = On-Chain {Gain for miners} Vs Node + Channels = Off-Chain {Gain for whom ??}).. Node everywhere but mining is missing on the other side!

https://arxiv.org/pdf/1111.2626.pdf

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Discussion

The Fockin’ Fury 2y ago

"Authentic" bitcoiners may choose on-chain transactions, but I suspect they'll only do so until/unless the fees get too high for too long. Then we'll see how authentic they are. People should remember: rising fees and the emergence of fee markets are *expected behavior* for Bitcoin as adoption accelerates. This will in turn drive adoption of L2's, including LN.

As far as whether LN benefits miners... well sure, in that it creates MEV on channel open/close transactions. This is only part of the tapestry of activity that Satoshi expected to be happening on-chain in the future: securely moving large sums of money, L2 operations (LN, liquid, etc.), as well as whatever other activity the base protocol supports... yes, this includes ordinals and BRC-20 tokens, like it or not!