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0 sats \ 4 replies \ @poe7645 OP 12 Oct \ parent \ on: No one uses Bitcoin for payments and lightning can't scale bitcoin
Haven't listened to it at all other than mainly detractors on Nostr who claim it's too complicated, which if you have no reference of base layer functions and how lightning integrates I could see the frustrations some would run into. Or they then become monero shills due 'lack of privacy' as an addition.
It's more just me saying that in the time I've spent using it and put into backending all my infrastructures as best I could... I'm convinced we haven't seen anything yet.
Lightning is better money, with virtually no fees, instant and at the speed of light.
We can only dream as to all the ways this can be integrated with online content, commerce, spending, and website microtransactions.
Bitcoin with lightning, imo, is the complete package. Be careful of which voices you listen to... it is not that complicated and the success of lightning means altcoins fall further behind (and they're already irrelevant).
Are there issues with Bitcoin's privacy? Yes sure. But i believe those can be overcome with a little imagination. And let's be honest, any nation state or significant government 'looking for someone' online will ultimately find them regardless of which blockchain they're transacting on. The goal should be reasonable privacy for most people, not hiding like Ed Snowden which is way, way, way more complicated than most people give credit for.
Just my 2 sats
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And let's be honest, any nation state or significant government 'looking for someone' online will ultimately find them regardless of which blockchain they're transacting on.
Even regardless using any blockchain at all if they send data themselves using facebook, insta, shindows or other EULA and privacy policy of nightmare.
Btw in russia now you can register to government services with biometry.
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Very true. I feel like some of the privacy-coin people, although they have good intentions, are living a fantasy.
One slip-up, one mistake, and a governmental actor can find someone trying to 'hide' on the internet. Privacy is the lowest of the on-chain or off-chain privacy presented. If you order something online and have it shipped to your house, how private is it?
If you buy gas for your car - the car probably has a license plate? There are cameras out in public? The moment you made the transaction (ie with the 'privacy coin') your face was visible on camera... so how big is the anonymity set?
With current ring signatures of 16 (16 right?) and your face on camera with your license plate showing, how many other people were buying that exact amount at that exact time? How large is the actual anonymity set?
Also, how do you stand around and wait for more confirmations, even just a few minutes when there are people around you, not paying in cryptocurrency?
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Agreed. It's all surface level arguments.
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