LIGHTNING NETWORK - what is happening, dead, stagnant?

[franky1]

Was it TRULY what the community wanted? Then why wasn't the Core developers thrown out? Let's run Bitcoin Classic nodes!

wow. you have been here this many years and you are still playing the same tune
i know your playing dumb. and i know you will next say the old 'oh well it is history stop poking it like a broke piano' (the nonsense rebuttal your buddy doomad tries).
but if you ask the question like a naive person then expect the answer to be repeated to you

unlike the narrative fed to you by your fanclub of commercial enterprise
the bips that wanted 2mb, were not bips with any controversial hark fork. they had standard consensus of high majority bips.
but core did not even offer their fans the option..no choice.
thus although the community wanted it and achieved more than cores 35% different proposal. it just was not enough.
core however knew their 35% different proposal was not enough either for their different features. so they simply kicked off those to fake 100% loyalty

i personally wouldnt have minded or cared if core released
core 0.xx 2mb version
core 0.xx segwit version
or even core 0.xx 2mb+segwit
and allow true community freedom on bips without making it brand loyalty game

heck i think if core actually done a 2mb base+segwit in mid 2016 they would have got it activated by christmas 2016 like they wanted and kept the community united

but if you think cores path has helped bitcoins onchain utility..
..then how come tx fee's were only a few cents in 2015 and ~2400tx a block
but if we now look at lets say the last 4 blocks at time of posting (btc@$8700)
630066 1.2mb size 2190tx ~$2.42/tx
630065 1mb size 148tx ~$1.30/tx
630064 1mb size 1015tx ~$1.68/tx
630063 1.17mb size 1751tx ~$1.70/tx

i know you think that having a 'open session' of over $1.50 is an advert to get people to not want to control their funds but use custodians to hold the real btc while you play with millisats and save $3 a month to close and reopen by not going back to holding true btc agin...

but the very fact of stifling bitcoins onchain utility. to force the fee's up will deter people from enjoying bitcoin. and will end up just having users playing with litecoin or vertcoin in combination with LN.
because they have cheaper fees

bitcoin blocks are now over 1mb of size but under 2k of tx and fees are ~$1.70/tx
the size:tx ratio has got worse. not better as has fees

[dnprock]

Lightning Network does not have demand because Bitcoin is not a Medium of Exchange. I don't think it ever will become an MoE. Bitcoin has two use cases:

1. A short-term speculative asset (trading)
2. A long-term store of value (hodling)

You'll hear people say that Bitcoin is used for transactions. They probably cite anecdotal experience or pitch a hope. The data does not support this thesis. Bitcoin's price is controlled by short-term news cycles. Traders have the biggest impact on its price. People can't use it for transactions because its price is volatile. I wrote some posts on this:

Bitcoin Will Not Be a Medium of Exchange
https://bitflate.org/post/2019/11/24/bitcoin-will-not-be-a-medium-of-exchange.html

Bitcoin Volatility
https://bitflate.org/post/2020/05/10/bitcoin-volatility.html

Besides the lack of demand, Lightning Network also have technical design issues. Basically, you can't get both cheap transactions and decentralization. Bitcoin's 2nd layer needs some level of centralization. But these are minor issues. The main problem is not many people use Bitcoin for transactions.

[Wind_FURY]

Was it TRULY what the community wanted? Then why wasn't the Core developers thrown out? Let's run Bitcoin Classic nodes!

wow. you have been here this many years and you are still playing the same tune
i know your playing dumb. and i know you will next say the old 'oh well it is history stop poking it like a broke piano' (the nonsense rebuttal your buddy doomad tries).
but if you ask the question like a naive person then expect the answer to be repeated to you

unlike the narrative fed to you by your fanclub of commercial enterprise
the bips that wanted 2mb, were not bips with any controversial hark fork. they had standard consensus of high majority bips.
but core did not even offer their fans the option..no choice.
thus although the community wanted it and achieved more than cores 35% different proposal. it just was not enough.
core however knew their 35% different proposal was not enough either for their different features. so they simply kicked off those to fake 100% loyalty

i personally wouldnt have minded or cared if core released
core 0.xx 2mb version
core 0.xx segwit version
or even core 0.xx 2mb+segwit
and allow true community freedom on bips without making it brand loyalty game

heck i think if core actually done a 2mb base+segwit in mid 2016 they would have got it activated by christmas 2016 like they wanted and kept the community united

but if you think cores path has helped bitcoins onchain utility..
..then how come tx fee's were only a few cents in 2015 and ~2400tx a block
but if we now look at lets say the last 4 blocks at time of posting (btc@$8700)
630066 1.2mb size 2190tx ~$2.42/tx
630065 1mb size 148tx ~$1.30/tx
630064 1mb size 1015tx ~$1.68/tx
630063 1.17mb size 1751tx ~$1.70/tx

i know you think that having a 'open session' of over $1.50 is an advert to get people to not want to control their funds but use custodians to hold the real btc while you play with millisats and save $3 a month to close and reopen by not going back to holding true btc agin...

but the very fact of stifling bitcoins onchain utility. to force the fee's up will deter people from enjoying bitcoin. and will end up just having users playing with litecoin or vertcoin in combination with LN.
because they have cheaper fees

bitcoin blocks are now over 1mb of size but under 2k of tx and fees are ~$1.70/tx
the size:tx ratio has got worse. not better as has fees

OK, then answer me this. There's a "Bitcoin" network, BCH, with big blocks that can "scale the world's transactions" onchain. If the community truly had consensus towards something like that, then why has the community not stopped using the "unscalable Bitcoin", BTC, for Bitcoin, BCH?

Everyone should stop running the Bitcoin Core full nodes for Bitcoin Cash full nodes, right?

[yazher]

I'm also one of the fans on the Lightning network because I wanted to see someday that it will be used as a means of payment in every stores worldwide. but right now they need to develop it more further because there's a lot of bugs and cons. What we need to have is a smooth payment system as fast as possible. I'm sure they are developing it for us to be more usable in the near future. they started this project and there will be no turning back at this time.