I think you're making a lot of assumptions about what LN is capable of, and what it requires in layer 1 blockspace to do it. It will get more efficient over time, and if it does start to reach capacity there will be new solutions thought of to deal with it.
Or maybe there will be a more valuable use of blockspace than opening and closing channels and LN will die. Either way the market will figure it out, I wouldn't worry about it.
I’m not questioning the capabilities of lightning itself. From my calculations I’m questioning the on chain capabilities to sustain lightning and was hoping to learn how we could fix the on and off ramps to and from LN.
note16mpl8jsr7ysyc2255vpz5fsvf5zjrv92xt7k7xfxwtkfuuft62wsh2qyjl
I see what you're saying. I think eventually people will be getting on lightning and never need to get off. If you have all your sats on the lightning network in a way that you trust and meets your needs, then you'll never really need layer 1. When more people are using lightning they will be able to onboard other people who have never used Bitcoin into lightning as well. There will be lightning channels that persist for years and facilitate billions of transactions. Those lightning channels will have only needed one on chain transaction to be created, so I think 260m is probably enough.
Yeah, I also believe that’s what’s going to happen for most people. Unfortunately that would mean we’ll have to leave the “not your keys, not your coins” aspect of it though. Most will be, but many will not… so I’m hoping there’s a way we can have both.
