ain't LN blockchain admission of failure
Ain't we better off using ripple at this point ?
No and no.
Bitcoin is bitcoin. Censorship resistant, and decentralized. The lightning network is technology being built on top of the protocol. The people building it, as well as many of us, see it as offering lots of valuable features.
It's sort of like HTML... HTML is an ever changing markup language used ON TOP of the HTTP specification. HTML changes frequently, adding features for things like video transmission etc. HTTP? Doesn't change that often. It's job is to be the rock solid base on which HTML does it's magic.
The bitcoin protocol is similar. A slow changing protocol, but in THIS case managed in part by the consensus of the users as well as devs miners etc. I think Wladimir van der Laan takes the right course when he is slow to make big changes to the underlying protocol.
LN is like HTML. The market is developing it to make the protocol useful for the masses. With development like this bitcoin comes out of the shadows and useful features are made available for everyday users. For example: Currently "being your own bank" entails complex OPSEC that even the experienced computer users can have trouble with and possibly fail. Whether we like it or not we NEED 3rd party solutions to help both grandma and banks handle the geeky aspects of using crypto. Without these developments we will never see mainstream use.
If bitcoin is to continue evolving into the premier form of wealth storage, unit of account, and means of exchange we MUST -- **MUST** see millions of transactions a second.
LN is currently the first and best step towards enabling that future.
So no. No. Bitcoin has not failed. In fact it has barely begun succeeding. I can see you have basically no idea what's coming. So the show will be pretty fun for you to watch. Hold onto your ass.
And hodl on to your BTC.
