317 sats \ 3 replies \ @grayruby 4 Dec 2023 \ on: Has Lightning Failed? bitcoin
I don't think it has failed by any stretch of the imagination. Usage and use cases are both growing. That being said as it grows we better understand the limitations and vulnerabilities.
I am hopeful that we continue to work to make lightning better but also have other options that get traction.
I agree with you, totally. With this particular individual, I didn't really get a solid chance to pick his brain, and I don't know when I'll have the opportunity again to do so. Just trying to figure out on what basis one would even possibly make the claim that it has "failed."
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Was it a bitcoiner or crypto person? There is a trope amongst some crypto people that because there is more WBTC on ethereum than BTC locked in lightning that somehow that means lightning is a failed project. But lightning is just a network of liquidity channels that zap sats back and forth whereas WBTC is used as a collateral asset usually in defi on ethereum so the monetary velocity profiles are completely different.
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It was a quasi-Bitcoiner. Someone very much on the libertarian/Austrian side political/economically, but has an ETH node, too. I'd say he's 80% maxi, 20% crypto-bro. 100% anti-fiat. Oh interesting, didn't know and hadn't heard that before about WBTC. He didn't mention that in our brief discussion...
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