What do you guys think about Lightning's current state of development?
1. LN is NOT bitcoin. bitcoins never leaves the bitcoin network. and so playing with units on another network is the same RISK people need to be aware of as using sidechains and pegged tokens
2. she seems open to admit the flaws and issues. especially the RISKS of theft (time: 30:40+ of video)
3. risks(just the top 6 of the many dozens)
being online to watch counterpart doesnt publish = risk
being talked into using a certain wallet that offers certain features = risk
using a custodial hub (you're an extra layer away from self control) = risk
not looking beneath the GUI to check which 'states' you have = risk
not knowing which 'state' is being published =risk
not checking or observing the onion payment to 'state' conversion rate = risk
and thats before we get into the bugs, flaws, liquidity and bottleneck issues
LN has had 5+ years to develop and its not even user friendly
bitcoin was in a 'download and just run' scenario within 1 year. people didnt need to run special hardware or download several bits of software just to see a easy to use GUI just to make a payment without a headache or much prep work
i dont see LN ever being in a position of 'just download and make payment' (without it having to rely on middlemen)
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things to be aware of..
LN devs are trying to transition utility over to a visa like 'tap and pay' or custodial system of users having a RFID chip or user accoun that has the private keys where EPos terminals sign your LN keys into a onion routed payment of msats. meaning they have access more then you do to the underlying funded utxo
the risks of this is . the RFID does not save your current states. nor does it give you control to chase down a broadcast by your co-partner(counterparty) of a channel
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bitcoin yep the actual btc on the bitcoin network. does not have these risks, user flaws, bad experiences when making btc payment son the bitcoin network. and it did not have them in year 1
LN and any subnet/sidechain. is not a 'solution' to scaling where everyone should leave bitcoin and offramp to sidechains/subnets. .. yes use other networks at your own risk TEMPORARILY and for short term niche utility/convenience(AT YOUR OWN RISK. but KNOW THE RISKS and do not default trust them as value stores long term
i expect to see all the fangirls chime in with their LN adoration brigade hymn sheets singing the utopian song of LN..
but learn lessons from tethers, luna, FTT and other crap coins and sidechains.. that peg value to other networks and leave people holding the bag or losing the bag of crap or not having their hands on the good actual asset they were promised
be risk aware
LN is not a settlement immutable network to trust as a store of value. its a temporary service of convenience for small amounts you do not care much to lose.
think of it that way and stay safe.
