0 sats \ 5 replies \ @joda 28 Mar \ on: Is Lightning a Big Fat Target for the State? bitcoin
It's just not worth the effort.
Individuals can't use it to cash out without paying taxes.
Merchant adoption is approximately zero, as is consumer demand for merchant adoption.
Miners getting paid via lightning? Who cares?
Gov could give the MSM some talking points about it being used for money laundering, just to ensure people don't get interested.
In other words, "still early"
write
preview
0 sats \ 0 replies \ @nikotsla 28 Mar
Merchant adoption
This is the key at this moment in time.
reply
0 sats \ 2 replies \ @kepford OP 28 Mar
Yes, it is early. Let's say Lightning usage goes up 100x. I'm just thinking about how it compares to on chain with privacy and I could see regulators seeing it as a threat.
reply
10 sats \ 1 reply \ @joda 28 Mar
This cycle there will be all the more centralized later 2s to deal with: Liquid, roll-ups, state chains, etc. Probably easier to target a sequencer than tens of thousands of nodes.
reply
0 sats \ 0 replies \ @kepford OP 28 Mar
Again, not talking about nodes. Talking about businesses.
reply
0 sats \ 0 replies \ @versieboer 28 Mar freebie
Individuals can't use it to cash out without paying taxes.
Whoever wants to cash out their bitcoin is not doing it right. Never sell your bitcoin. If you want to spend it, you can do that using Lightning. Merchants that accept it as payment can decide if they want to hold the sats, or convert it back to fiat and deal with the taxes themselves when they do that.