Maybe lightning is not the solution we need?
Asking the hard questions. Not implying anything … nostr:note1ys7ufs55metqgplqqwvezdcsx24ltv8t9wmqmretudrl2ky2px9s06vl97
Discussion
The routing and liquidity management in lightning is a pain in the ass, plus those who warned about the problem of centralization in lightning were right, not to mention that most use custodial solutions.
I honestly prefer to use a federation like Liquid rather than Lightning with all the drawbacks it has.
On the other hand I have hopes to see mercurylayer, it solves privacy and scalability problems, I want to see how far they can decentralize it.
Never heard of mercurylayer, where to learn more?
Interesting. Stacker news ran an AMA today about Drivechain and some other bleeding edge ideas. I'm pretty opposed to drivechain but the AMA really challenged some of my ideas, gave me new ones and of course confirmed others.
Bitcoin as a P2P money in a merchant setting just hasn't happened. At all. Bitcoin broke into the collective conscience in 2017-2018 IMO but in the following 6, almost 7 years merchant acceptance is painfully slow to uptake. Not enough has been built. So much attention elsewhere.
I agree with some of what drivechain is trying to do. Build out Bitcoin.
I'm still not for modifying L1 on unproven untested theory. But I agree with some of the ideas here.
Liquid is good but it's a totally custodial trusted peg-in system.
Lightning is cool but has issues too.
Bitcoin needs to be built out at the scaling layer since we kept blocks small. And retail needs to be pitched harder to accept it.
What an awesome write-up! ☺️Thanks for posting this, if you're interested in learning more about Drivechain, we're having a Twitter Space every Friday, 1 pm EST. Also, here's some informative links:
http://Drivechain.info (Paul's blog)
http://LayerTwoLabs.com/FAQ (our site)
http://Drivechain.xyz (a fan site)
Hope to see you tomorrow!
It depends what you want but if you open like 7-10 channels to some big Apps, you dont need to balance a lot your channels. Usually it works automatly from one channel to the others. If you are searching for profits, then you need really big channels and a fine balance managing. Decentralization in one way depends if people set up more LN nodes, similar to Bitcoin.
This happens. I think it's a someone like LNBig nodes resetting nodes and closing channels to consolidate channel profits to on-chain.
I definitely want to see other options and I think we'll see several more sooner than we think but in the meantime, I've seen this node depletion happen several times before.
Yes, since bond rates > 4% it's very, very expensive to provide liquidity to #lightning 😢
yes, at this point probably all of us recognize that LN is not an optimal solution.
but... it is what we have today and somewhat works, so I'm happy it's here.
I had big hopes in Ark, until recently I've learned more about how it works and doesn't looks very good anymore
I'm dropping back to pre #TapRoot #Bitcoin #core. Then hopefully #murdering #inscriptions and #ordinals etc.
Along with suspending all #transaction #fees until near the end of the block rewards. Bitcoin doesn't need them, and they're just being abused, and fillingl the blockchain with bloat and crap.
Lastly, Bitcoin doesn't need to #scale. But if individuals want to scale the Bitcoin they own. That's their business. As long as it doesn't compromise Bitcoin in ANY! way..🤔
I think we need all the solutions we can get right now. Some will work, some won’t, and some will lead us to even better solutions.