First on Main Stage at nostr:npub1dwah6u025f2yy9dgwlsndntlfy85vf0t2eze5rdg2mxg99k4mucqxz7c52 Lightning++ Edition: nostr:npub185h9z5yxn8uc7retm0n6gkm88358lejzparxms5kmy9epr236k2qcswrdp of Spiral with "Requiem for a Decentralized Bitcoin".
Discussion
Lightning became the scaling solution, now powering 10-30% of the network. It is though considered a disappointment.
Self-custodial lightning solution emerged but they were not the best possible solutions. That's why many custodial solutions emerged.
However, the slow work of the previous years is now coming to an end.
Today's mobile experience is full of trusted parties, such as Liquid and Spark.
Bitcoin usage, today, is running towards centralized third parties.
Current regulations allow "regulatory self-custody", but will never accept centralized entities to not submit to possible new regulations.
Trustless systems may still be centralized, but generally can decentralize later. Trusted parties cannot.
Where to next?
Bar has shifted, Lightning self-custodial is not competing with on-chain anymore, but with new solutions that have better UX and nearly-0 fees.
Users will not settle for "better than on-chain" wallets anymore.
"Bitcoin simply doesn't work unless there is sufficient demand for censorship-resistant transactions in the world"