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utxo the webmaster 🧑‍💻

@utxo the webmaster 🧑‍💻 1702650640

It pains me to say it after 3 years of building on it but I think lightning is ngmi, at least for non custodial pleb payments.

I think ark and liquid are fundamentally a more sound approach to L2 for end users.

If it REQUIRES the end user to run infrastructure, even if that is just a phone, it's going to be too janky to actually scale.

Not to mention that somehow lightning is already more ossified than L1...

If we continue down the custodian route people will get rugged or KYC d

I am ready for your hate, but this is my current take. Also would be happy to be proven wrong.

Now back to sshing into my node and working on chantools to recover a force closed channel utxo that lnd didn't report.

Totally easy for everyday users to solve if they run into this problem...

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the axiom · 141w

Another one bites the dust.

fiatjaf · 141w

The worst thing about Lightning is the hopium effect it creates in people: "Bitcoin doesn't need anything, we already have Lightning!"

Sovereign Matt · 141w

I came to a similar conclusion in about August time. I now believe BIP300 sidechains are our best bet for maximising the user experience for self custody. i.e. low fees, better privacy, and easy onboarding, no liquidity constraints like with lightning. Maybe it won’t catch on, but I think Rootst...

nostrich · 141w

Ingwie Phoenix (aka. birb) · 141w

Biggest bottleneck for me in terms of Lightning: You have to pay to participate. And quite a lot, too. The UX is also ... questionable. It's fun as a "Twitch Bits but open source and free" - but if the easiest solution is a custodial one, how different is it, really? I still run my CLN node, I had ...

nostrich · 141w

I was thinking the way liquid was coming along we'd end up with LN wallets with liquid that would auto rebalance channels for plebs using non custodial LN. Is that a pipedream?

It's time to actually use liquid

Gildong.Hong · 141w

Are you paid like samson mow? nostr:note1kpffp3xr48szuh7jventmfwac789menesecat49et4pyq8ph8wvqklrjad

Jack⚡️ · 141w

I think I'd have to agree. I'm simply a pleb utilizing all these awesome tools that people like you are building but these high-fees on chain have magnified the limitations of Lightning. Ever since fees spiked I have been running into constant hiccups with my non-custodial LN wallets. I personally...

DELETED · 141w

Been there for awhile now.

You have my endorsement for your use of the term "janky"

chantools is great though isn't it? shoutout to guggero

Scrotus · 141w

i think lightning will make it and i think liquid will help... on chain: zero trust, low scalability. liquid; medium trust, medium scalability, lightning; high trust(sometimes), high scalability. they all have their purpose. too much good things have been built on lightning. remember, good thin...

Maybe an unpopular opinion but simply going on a #bitcoin standard even with centralised intermediaries facilitating daily transactions is a win for humanity. It's far from ideal but at least theft through inflation becomes impossible and productivity gains flow more to society, etc

Uxellodunum · 141w

I fully understand the pain.. I've always said it, always been a foot behind when it came to L2. This didn't stop me from getting into Lightning, running nodes and joining in the fun of experimenting with channels (when the fees weren't this high). But Bitcoin's whitepaper, coupled with the acces...

antifragilemoney · 141w

I still havent sucessfully recovered millions of sats from my node going down and syncing a new node to recover

Deleted Account · 141w

Continuing with testing, all L2 solutions aim for a definitive victor. However, if it's not Core (BTC), it's fundamentally exploitable.

CappyNate🍁 · 141w

100% agree. But the problem originates higher upstream to Bitcoin itself. The whole reason Lightning exists is because of flawed slow BTC block time. Fork it. Reduce block time to 2 sec. Make block size unlimited. Mint all 21m instantly. TPS goes to the moon. Layer 2 is unneeded. Fees plummet. ...

Benjamin Chodroff · 141w

What are your thoughts on drivechain?

SirGalahodl · 141w

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Kortik 🇦🇲 · 140w

ark and liquid are all the same thing as paypal why bother? 3rd party controllers.

Obi-₿it Koinobi · 140w

"When I tried updating the computer it said my suppositories were missing. I just want to go back to Windows! At least it works!"