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"Here are the problems that I, as a Bitcoin Maxi, have with Lightning..."
1361 sats \ 8 comments \ @jk_14 15 Aug 2023 bitcoin
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140 sats \ 1 reply \ @nerd2ninja 15 Aug 2023
facepalm
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122 sats \ 0 replies \ @jk_14 OP 15 Aug 2023
I wrote some kindly response: https://old.reddit.com/r/litecoin/comments/15pa5n3/this_is_why_i_am_switching_over_to_litecoin_for/jw47ppw/ ;)
I think it's some kind of aftermath of this thread: https://old.reddit.com/r/litecoin/comments/15irs4q/was_lightning_a_bad_idea/
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21 sats \ 0 replies \ @mallardshead 16 Aug 2023
This sounds like a post better suited to pre-2023 complaints. Lightning is turning a corner, and I'm uncertain custodial lightning will last past 2025 if you pay attention to the design pattern and innovation there. I think innovation is moving slower than you have patience, so you've wondered off trying trying to find the next bitcoin and lightning. You're not paying any of your bills in LTC sir, anymore than 99% of us are paying our bills in bitcoin, but I do know it's much easier to pay at large in bitcoin, because it has orders of magnitude more integrations, and is accepted far more places. Lightning has been integrated into CashApp, multiple exchanges, ProtonMail soon, and another I'm not at liberty to say. Your complaints have a single subtext: bag pumping. We're after a bit more than that here on SN, with little concern about the time frame. There is no hurry, the sky isn't falling, and hyperinflation will take longer than YouTube has told you it will.
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21 sats \ 0 replies \ @2bithits 16 Aug 2023
Why litecoin & not other sh$tcoins like doge or monero? Or centralized sh$tcoins like BNB the dollar?
Lightning is bitcoin. Use custodial wallets like WoS if you must
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21 sats \ 0 replies \ @tomlaies 19 Aug 2023
Shitcoins like Litecoin are really hard to understand why people still simp for it. Like, there literally is no logical argument here. It make no sense. Are they just coping and can't admit they were wrong? Is that it?
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94 sats \ 0 replies \ @nullama 16 Aug 2023
Phoenix Charges 3,000 sats +1% each and every time you want to receive sats to your wallet because "it creates a new channel for you". And if you don't spend your sats, each time you receive more sats, it creates a new channel to store your new sats, and that's already $1 fee every single time. I thought lightning network was only supposed to take less than a penny? How comes it's taking over $1 and change from me.
That's just not true.
Phoenix does charge you 3k sats for each channel they open for you, but that's not needed every time. Once you opened a channel you can use it and get charged normal routing fees, which are only a few sats.
If you want to increase your capacity, then another channel will have to be created, that's another 3k sats, but you keep that capacity and can use it in the future for a few sats.
These kinds of posts only make OP look bad.
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100 sats \ 1 reply \ @iguano 16 Aug 2023
some one has to say him that he will spend more changing his bitcoin to LTC than opening a channel
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31 sats \ 0 replies \ @orthwyrm 16 Aug 2023
This is the correct response IMO. Lightning has it's own limitations, but the alternative is flip-flopping between weaker forms of money.
The reddit user's workflow is 1) Sender converts BTC to ALT, 2) Send ALT to receiver, 3) Receiver converts ALT to BTC. While you could hold a big bag of ALT to reduce the number of on-chain swaps, that bag depreciates over time (relative to BTC) as it's a weaker money.
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