Lightning: Is It Doomed or Just Misunderstood?

The Impending Doom of Lightning

Lightning Doomed

Do you believe that Lightning is on the verge of collapse? Do you think that high fees have killed any chance of scaling Bitcoin non-custodially? Well, if you do, then I have one question for you: Have you lost your mind?

Let’s take a journey down memory lane, shall we? Remember the glorious days of pixelated dick pics on the Lightning art site? Ah, good times. And who can forget the Lightning torch meme, where everyone was terrified to send it to “bad” countries? Oh, and let’s not overlook the joy of zapping sats from one custodial account to another. Ah, the exhilaration!

But wait, before you fetch your shopping cart and head to Coinbase or Cashapp for your Bitcoin needs, let’s clear the gaslighting fumes and examine the facts.

The original Lightning Network whitepaper, way back when, stated that for 7 billion people to open two channels a year, Bitcoin would need 133 MB blocks. That’s right, 133 MB! So, while high fees might be a concern, they were anticipated and are not the death sentence for Lightning that some people claim.

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Remember when we were all losing our minds over timelocks? Yes, those pesky windows that determine fee rates versus confirmation time. If fees skyrocket, the window needs to be longer to ensure successful transactions. But guess what? This issue was described as a risk in the original whitepaper. Surprise!

And what about forced expiration spam? The Flood and Loot Attack? These were architectural concerns mentioned in the whitepaper years ago, my friends. But somehow, they’re now breaking news. Go figure!

Let’s not forget about the inability to make necessary soft forks. It was in the whitepaper too! Historical context seems to be lost on some people. It’s like they forgot that the blockchain itself faced scaling limits, and we had heated debates about altering the entire system. Sound familiar? Lightning is facing similar challenges, but that doesn’t mean it’s doomed.

You see, the blockchain was never meant to handle daily coffee purchases. It was a place for channel openings and closings. Similarly, Lightning has its limitations when it comes to low-value payments on-chain. But there are solutions, my friends. Packetized payments, for example. It’s a trust-based routing mechanism where you can stream payments sat by sat, protecting against theft.

So, let’s not jump to conclusions and assume Lightning is a dead end. Despite its challenges, it can serve as a settlement layer, just as the blockchain does. And that’s not a failure. It can connect custodians and facilitate interactions between different protocols. Think of it as a translator layer for other systems that scale the end user’s ability to onboard and transact.

In conclusion, my fellow investors, don’t believe the hype. Lightning might not be the protocol we initially envisioned, but that doesn’t mean it’s doomed. Let’s embrace this evolving landscape and explore the possibilities it offers. After all, isn’t it more exciting to be part of a dynamic and ever-changing future?

So, keep calm and hodl on, my friends. The journey is just beginning!

Original content by Shinobi

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