Did we forget about the lighning network?

[Dailyscript]

Just a breif: The Lightning Network was literally the technology needed to enable Bitcoin to be adopted as legal tender at nation-state level. It is integral in Bitcoins evolution as a monetary asset from a store of value to both a medium exchange and unit of account. It is a game-changer homies and if it can get even more adoption, it can create further waves in many nations, especially those with truly decimated centralized national Fiat currencies. So why did we forget about it so soon and its not been talked about much in the forum.

This is a thread that has all the lightning network threads all together. Let's go through it nd enjoy the ride - https://bitcointalk.org/index.php?topic=5345664.0

[Charles-Tim]

The Lightning Network was literally the technology needed to enable Bitcoin to be adopted as legal tender at nation-state level.

El Salvador made bitcoin a legal tender in 2021, but the country has just adopted lightning network some weeks back. Lightning network makes bitcoin transaction to be cheap and faster which is the reason it was created. If there are more people making use of lightning network, also the mempool will be less congested if compared to if lightning network is not existing.

[mk4]

I haven't really tested out Lightning for like 3 years now(tried out Phoenix). How good/bad is it going currently? Is Lightning still 'the' layer-2 that Bitcoiners are betting on? Controversial I know but I've stuck to using stablecoins on Solana when doing quick cheap transactions.

[franky1]

we didnt forget, many looked at it.. found the bugs, experienced the bottlenecks and realised its not fit for purpose so we moved on
el salvador used it for 3 months in autumn 2021 and hit many problems. they dropped it by christmas 2021

lightning is not the solution it promised to be. devs admit to many flaws but admit they cant fix it, their work-arounds is to use centralised services as funds managers

other new subnetworks(even some not even made yet) will become a thing

people are already using other subnetwork bridges.. other subnetwork bridges had and have more liquidity than LN ever did..
in short the community already decided LN failed its promises to meet its purposes

but you will still see idiots promoting LN using old outdated promotional speeches from 6 years ago, not realising its now 2023

[avikz]

Just a breif: The Lightning Network was literally the technology needed to enable Bitcoin to be adopted as legal tender at nation-state level. It is integral in Bitcoins evolution as a monetary asset from a store of value to both a medium exchange and unit of account. It is a game-changer homies and if it can get even more adoption, it can create further waves in many nations, especially those with truly decimated centralized national Fiat currencies. So why did we forget about it so soon and its not been talked about much in the forum.

This is a thread that has all the lightning network threads all together. Let's go through it nd enjoy the ride - https://bitcointalk.org/index.php?topic=5345664.0

In order for a technology to become a part of our daily life, it needs to be simple and easy to understand. Lightning network is a complex bit of technology and a lot of people are still unsure how to use it. There are many flaws and bugs in it as well.

LN is useful but the developers need to Dig deeper to find out why people are not using it! LN has a long long way to go.

[Poker Player]

I don't see much future for it because I don't see a future in Bitcoin to pay for coffees. There are too many payment alternatives for coffees to choose Bitcoin. Why are you going to pay for everyday payments with something that in a year's time will easily be worth 3 times more and keep the fiat currency that next year will have a real purchasing power of at least 10% less?

[franky1]

I don't see much future for it because I don't see a future in Bitcoin to pay for coffees. There are too many payment alternatives for coffees to choose Bitcoin. Why are you going to pay for everyday payments with something that in a year's time will easily be worth 3 times more and keep the fiat currency that next year will have a real purchasing power of at least 10% less?

starbucks would have their own subnetwork. to be a crypto version of their giftcard/loyalty card system
starbucks benture into crypto has history, they avoided  LN but starbucks odyssey is just the beginning

[joniboini]

The Lightning Network was literally the technology needed to enable Bitcoin to be adopted as legal tender at nation-state level. It is integral in Bitcoins evolution as a monetary asset from a store of value to both a medium exchange and unit of account.

Who said this? I don't remember reading about it. Does the government really need LN just to make Bitcoin a legal tender? From what I've seen, they don't seem to care about sidechains at all. At the end of the day, their transaction volume is likely bigger than what those sidechains are made for.

[gunhell16]

The Lightning Network was literally the technology needed to enable Bitcoin to be adopted as legal tender at nation-state level.

El Salvador made bitcoin a legal tender in 2021, but the country has just adopted lightning network some weeks back. Lightning network makes bitcoin transaction to be cheap and faster which is the reason it was created. If there are more people making use of lightning network, also the mempool will be less congested if compared to if lightning network is not existing.

That's exactly what I had in mind based on the research that I found out: if we use the lightning network, we can save money here when we make a transaction.

But I haven't tried him yet, although I see the Lightning network as one of the network's choices for what you will use for the withdrawal transaction. And Binance has it, as far as I know. But I really want to try it; that's why I'm still hesitating because I don't want to make a mistake, of course.

[franky1]

The Lightning Network was literally the technology needed to enable Bitcoin to be adopted as legal tender at nation-state level.

El Salvador made bitcoin a legal tender in 2021, but the country has just adopted lightning network some weeks back. Lightning network makes bitcoin transaction to be cheap and faster which is the reason it was created. If there are more people making use of lightning network, also the mempool will be less congested if compared to if lightning network is not existing.

That's exactly what I had in mind based on the research that I found out: if we use the lightning network, we can save money here when we make a transaction.

But I haven't tried him yet, although I see the Lightning network as one of the network's choices for what you will use for the withdrawal transaction. And Binance has it, as far as I know. But I really want to try it; that's why I'm still hesitating because I don't want to make a mistake, of course.

if you want to try it even though history has shown many have, and they moved out from LN..
dont lock funds into LN you fear losing.. just try throw-away amounts like fast food value.. learn, decide and move away from LN.

[adaseb]

I think most people just started to use a different alt when it comes to micro transactions and still only use bitcoin for large transactions.

I started to use ETH for that but when the fees went up during 2021, I just used many of the L2 like Arbitrium. Transactions are quick and fees are very cheap. On polygon you won’t believe that the fee is less than a penny, I think 1/3 of a penny for an ETH transfer. And it’s extremely fast.

[Despairo]

People don't forget with LN, currently there are 16,583 nodes with channels.

We just have many option, when it comes to offline stores, people prefer to use fiat than Bitcoin. In online stores, we can use digital fiat, altcoins with cheap fees or Bitcoin. if the online stores are in a same regions where you live, digital fiat is the highest choice. While cross border transactions, people might use stable coins instead of Bitcoin.

[fat buddah]

We didn't forget about it, it's just not as good as we thought it would be. I mean, even El Salvador dropped it.

[darkv0rt3x]

LN is not forgotten at all. Some keeps whining about the limitations as if any other networks and coins and projects didn't have! Some keep complaining about LN and even trying to convince people to move away. FFS, let people decide on their own. People can think and decide by themselves. They don't need anyone to just trough a bunch of whining crap and say "stay away".

LN, as any other technology needs time to evolve, to get liquidity and adoption. And that time is yet to come, yes it's true, but it's far from those claims about old tech and buggy and highly limited. This is just people trying to spread non-sense FUD about it. LN is now more needed than ever with the crap of Oridnals flooding mempools and increasing fees. But as with Bitcoin, adoption is hard to get, so it will take time! But the time will come!

Don't just listen these people saying only crap about LN. Try it, learn it and you probably won't move away from it!

[Bananington]

The fact much hadn't been said about it or you haven't come across more post or comments talking about lightening network doesn't mean it is not used for the features it was created for.
The use of lightening network only gets heard of when there is a congestion in the network which often results from too many transactions or orders flooding the system at one time.
We didn't forget about it, other preference stood in the way of it gaining much adoption because in some regions and countries, cryptocurrencies is still very illegal and banned or restricted.

[stompix]

Just a breif: The Lightning Network was literally the technology needed to enable Bitcoin to be adopted as legal tender at nation-state level.

Nope, no, not at all, nothing like that..

It is a game-changer homies and if it can get even more adoption, it can create further waves in many nations, especially those with truly decimated centralized national Fiat currencies.

Bitcoin hasn't been able to do so on it's own while fees where at 1 sat/b, the simple fact that we had months of half empty blocks is proof that the view has completely shifted from a p2p currency and payment method to investment, and investment doesn't need fast cheap tx.

Why are you going to pay for everyday payments with something that in a year's time will easily be worth 3 times more and keep the fiat currency that next year will have a real purchasing power of at least 10% less?

Because if you have bitcoin and fiat to pay for that coffee you can
- spend the fiat and basically do nothing for adoption
- buy bitcoin with fiat and pay with that coffee with LN, you still keep your previous stash intact and you use the fiat you were spending anyway

People don't forget with LN, currently there are 16,583 nodes with channels.

It's the sum that matters, looking at the numbers right now we talk about $200 million circling around.
For comparison, Walmart sells $2 billion worth of stuff a day, brining LN closer to Starbucks if!!! all those 200million would move at least once every day, but we know it's not happening!

[moneystery]

everyone here remembers the lighting network, but why until now people are still reluctant to use it is because it failed to fulfill its promise to users as it offered faster, more secure, and lower fees on transactions. in its implementation, ln experiences bottlenecks and there are lots of bugs which cause lots of problems, so why keep using something that is not yet mature.

and discussing bitcoin to be adopted as legal tender at nation-state level, there is no need to dream that it happens because it will not happen. governments will not allow that their financial products are disrupted by bitcoin. they will forever treat bitcoin as an investment instrument, even worse, they will prohibit it from being transacted. especially if it's only for large-scale transactions, there are still many options that users can use, such as tron, solana, or crypto from other networks which can offer speed, security and low fees like those offered by LN.

[Winterfrost]

Truly i cannot forget about the Lightning Network. 5 years ago it was all over the media and internet just the way the Ordinals is trending. Perhaps you are trying to say that there are fewer adoption of the Lightning Network and the number of users is low. Yes, just like how it took Bit oin to attain mass adoption from various countries and for people to believe in its technology. Its same way it could take the Lightning Network some time to be sccepted by so many persons.

But on the other hand, there are still individuals who use the Lightning Network to their Bitcoin transactions faster.

[SamReomo]

the view has completely shifted from a p2p currency and payment method to investment, and investment doesn't need fast cheap tx.

Yeah, I highly agree with you and I also believe that now people consider Bitcoin more as an investment than as a p2p currency. I know that there are a group of people who still use Bitcoin as p2p currency but most of people use it as an asset instead of a p2p currency. I'm pretty sure that there will come a time when almost everyone would consider Bitcoin as an asset instead of a currency. Let's see what the future holds for us!

[Text]

This is the scaling solution when the network is congested, especially during a price surge. This often happens when in a bull run trend. This significant advancement aims to make transactions faster and cheaper. It could potentially rescue web3 platforms. This is a clear indication that this protocol is finding new applications.
While I'm browsing for some results, it's interesting to note that the world's first decentralized exchange (DEX) to support the Lightning Network has recently been launched.