21 sats \ 7 replies \ @drfred 28 Nov 2023 \ on: The Lightning Network is a Settlement Layer - Toxic Rant #4 bitcoin
why use an insecure system where people lose money? i lost 250.000 sat on umbrel.
which is extremely hard and expensive to set up and close (liquidity, balancing etc)
when people can just use monero for privacy
and ultra low fees
from their phone or their computer
without any risk or inconvenience
Monero only has low fees because no one uses it. If it had a fraction of bitcoin's volume, it's fees would be far higher than bitcoin's because transactions are much larger
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That's where lightning and other scaling solutions come in. Using the blockchain for everyday payments was never going to scale
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No, we can solve this with different scaling solutions, you don't need to do an on-chain tx for every person
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gfy
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