Hey jb55 (npub1xts…kk5s),
Although I share your enthusiasm, it's also good to ask, "Coud I be wrong?" which leads to researching other opinions.
I found the article below about the inevitable centralisation of Lightning, which means... in our enthusiasm, we are just recreating the Fiat network with easy central control and censorship.
Only those who delve into the Lightning network will be able to understand the intricacies. It's not easy and many will never understand it. Opening channels for example, or the inability to move sats to BTC self custody once the BTC price and mining fees move higher.
We hope that developers will solve these issues, but as they do, they are building a highly centralised network with big nodes (Wallet of Satoshi, Acinq, Binance, Kraken etc) that are easily co-opted by government. BTC exchanges already require KYC, what if big Sat hubs are next?
https://medium.com/@jonaldfyookball/mathematical-proof-that-the-lightning-network-cannot-be-a-decentralized-bitcoin-scaling-solution-1b8147650800
Links to thorough articles refuting the article above are highly welcome.
/ Strategister
npub1g5…03avv
2024-07-12 23:18:18
in reply to nevent1q…9dnt
Author Public Key
npub1g583l6nm9lsq325073engx9dz8e5fucqpl06r9c2cuqxtk288mxqp03avvPublished at
2024-07-12 23:18:18Event JSON
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"content": "Hey nostr:npub1xtscya34g58tk0z605fvr788k263gsu6cy9x0mhnm87echrgufzsevkk5s,\nAlthough I share your enthusiasm, it's also good to ask, \"Coud I be wrong?\" which leads to researching other opinions.\n\nI found the article below about the inevitable centralisation of Lightning, which means... in our enthusiasm, we are just recreating the Fiat network with easy central control and censorship. \n\nOnly those who delve into the Lightning network will be able to understand the intricacies. It's not easy and many will never understand it. Opening channels for example, or the inability to move sats to BTC self custody once the BTC price and mining fees move higher. \n\nWe hope that developers will solve these issues, but as they do, they are building a highly centralised network with big nodes (Wallet of Satoshi, Acinq, Binance, Kraken etc) that are easily co-opted by government. BTC exchanges already require KYC, what if big Sat hubs are next? \n\nhttps://medium.com/@jonaldfyookball/mathematical-proof-that-the-lightning-network-cannot-be-a-decentralized-bitcoin-scaling-solution-1b8147650800\n\nLinks to thorough articles refuting the article above are highly welcome.\n",
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