0 sats \ 4 replies \ @ssaurel OP 16h \ on: Bitcoin Lightning Network are not good. The beginning of the end? bitcoin
By repeating that Bitcoin as an MoE is a distraction, Michael J. Saylor has contributed to the growing disinterest in the Lightning Network.
This is a shame because, with his audience, Michael J. Saylor could have encouraged the development of the Lightning Network, which is supposed to be the solution for everyday payments in Bitcoin.
Unfortunately, the numbers don't look good for the Bitcoin Lightning Network.
The number of nodes has been halved, as have the number of channels and the network's Bitcoin capacity. Across the board, all metrics have been halved.
Less and less capacity, and therefore fewer and fewer users.
What does this lack of interest in the Bitcoin Lightning Network mean to you?
Does it represent a victory for the camp of financial giants like BlackRock and Michael J. Saylor, who want to sell to the general public the idea that Bitcoin is first and foremost an SoV that needs to be integrated into the current system?
I look forward to hearing your opinion on the subject.
It's just a matter of user preference. People prefer to use Bitcoin to put their savings right now, and only OG people are using LN for selling small quantities for every day usage, like it is my case.
The reason why this happens it is very well known: Bitcoin is hard money, and nobody wants to spend it except for necessity. I see no problem on this.
The "halving" in numbers is just due to most people that before had a node now have private channels using private wallets, because they have realised that maintaining a node requires too much time that they could employ on having fun with their BTC.
No, the assumption is wrong.
Those charts represent the PUBLIC capacity of routing nodes and NOT the PRIVATE capacity.
You see, many people have a wrong idea about how LN is distributed. We have 2 types of LN nodes:
- public (small and medium routing nodes, LSPs, big nodes, exchanges etc) that you can consult in many charts, from the LN graph.
- private (unannounced), that are personal nodes, mobile node wallets, connected to the public ones through private channels and you cannot see them in the public charts.
LN do not need too much public liquidity in order to run. Is enough with a couple of thousands of nodes, well distributed over the world and these will provide the liquidity for the private nodes.
M.Saylor and Blackrock are meaningless for Bitcoin and LN in general.
What really matters is more merchants using LN and more users paying with sats. If bitcoin doesn't flow is all for nothing.
So in conclusion, no, there's no "lack of interest" in LN, is only lack of interest of the speculators (fiat maxis like Saylor) that do not use bitcoin at its full potential, they use it for their own enrichment in fiat. But they will be the losers in the end.