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@iwearahoodie 2/ First off, we should look at Bitcoin as a multi decade monetary phenomenon. We have to be patient overall!
The altcoins that try to rush this end up becoming the irrelevant 'kiddy pool'.
The altcoins that try to rush this end up becoming the irrelevant 'kiddy pool'.
@iwearahoodie 3/ "The fees just get too high" - Yes the fees will eventually rise, and arguably this is baked into the design. But there are ideas on how to let people participate using things like channel factories.
@iwearahoodie 4/ Things like channel management are still being worked on e.g. autopilot channel opening. Or dual-funding of channels, and other concepts like 'turbo channels'.
@iwearahoodie 5/ re: the 'fundamental structure', some of this will change with splicing enabling channel resizing. I think they can leave channels open more easily once this comes.
6/ "I'd have to create a new lightning channel every month to pay my staff anyway" - I think this is missing the ability of keeping channels open, and also the multi hop nature of lightning. You wouldn't necessarily need a channel with each person.
7/ Right now it's not easy for a noob to be self sovereign and fully validating. but this will come with time and more 'plug and play' products. For now, people will do what comes easiest, so I anticipate more people will use custodial LN
8/ Small use of custodial LN now by bitcoin noobs is not a huge deal -> they'll eventually be put towards the path of full validation & self-sovereignty once they're in bitcoin for longer and accumulate a bigger BTC stash
9/ Yes, I believe it will be a good thing for fees to eventually rise to help keep bitcoin's network sustainable. But my hope is that people still have sufficient options to participate.
10/ Full validation has to be kept accessible to keep the overall system health in check IMO.
Also block propagation argument: if blocks too large, we'll see more chain splits etc. harder to maintain consensus
Also block propagation argument: if blocks too large, we'll see more chain splits etc. harder to maintain consensus
11/ Then don't use Bitcoin payments right now if you truly believe fees are too high right now.
Wait until you believe it's ready. There are many others out there using it right now for real commerce.
Wait until you believe it's ready. There are many others out there using it right now for real commerce.
12/ too much is at stake to risk the entire bitcoin ecosystem into the future, just to help some individuals and businesses now. We have to accept Bitcoin as it is, and understand that big changes to it are only taken slowly, and only with overwhelming support.
13/ Give it time, these things will be built out. But they have to be built out the right way.
14/ To me, years away is really fast! This is a new digital money that we didn't even have 10 years ago. It will eventually be as simple as 'running on an iPad' with plug n' play hardware and POS devices
15/ This may be a false dichotomy. Some will use custodial, some will have their own keys and not fully verify, others will go full node self-sovereign. It'll be an ecosystem with multiple options.
16/ Maybe you're not teaching the right approach? they could use bitcoin service providers who make it easy for them. whether that's merchant processing or individual key management
17/ So coming back to what I was saying about looking at bitcoin as a multi decade monetary phenomenon - it's not right to judge bitcoin now based on how it 'serves business'.
18/ People who don't think about bitcoin on a long time horizon will make errors. They'll expect 'too much' from it, and may end up rekt from instead trusting some shonky alt coin that made a bad trade off on centralisation risk
19/ Anyway, I'm not that worried about technical minutia (though I've given you examples anyway) e.g. splicing, channel mgmt, channel factories.
What matters more is making a money that stands the test of time. Society will reorganise itself around *that* money.
What matters more is making a money that stands the test of time. Society will reorganise itself around *that* money.
