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120 sats \ 7 replies \ @TheL0wner 27 Feb 2023 \ on: Building sovereign rollups on bitcoin bitcoin
unnecessary crap. use lightning.
how do I make e2e encrypted payments in lightning? or do p2p pooled liquidity borrowing and lending? and once block space on L1 fills up, how do I close my LN channel without paying a prohibitively high fee?
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Learn more about LN, seems that you lack of knowledge about it.
how do I close my LN channel without paying a prohibitively high fee?
You don't. You keep using a LN channel as much as you can, not after each payment.
p2p pooled liquidity borrowing and lending
That's stupid. In a Bitcoin world you are forcing users to go back to use crapcoins or fiatcoins.
Bitcoin is savings technology, not fractional crap reserve. You save sats until you are able to buy what you need and you buy only what you really need.
You don't have enough BTC? Fine, work harder until you get them.
You can't lend/borrow more BTC than you have.
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You keep using a LN channel as much as you can
What happens when you can no longer use the channel? Without the ability to settle on L1, do you think LN works at all?
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That's a strawman, LN requires opening of channels, but closing them really is optional. No need to settle if you continue to maintain the channel. It is conceivable that the open-to-close ratio of channels will get very close to 1 over time, a channel could become something that you can pass on to your descendents, if both sides are determined to do so.
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If everything is working as intended, sure. Seems like many people are overlooking the concept of being in an adversarial environment.
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my point was build it on lightning, not L1. as for borrowing and lending, thats just people being banks, it shouldn't be a thing.
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my point was build it on lightning, not L1
it can't be built on lightning
as for borrowing and lending, thats just people being banks, it shouldn't be a thing.
borrowing and lending have been a thing for thousands of years, that's not going to change any time soon. whether you like it or not, people obviously want to do it. so it will continue to be a thing. good luck convincing people otherwise.
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