This post was typed as a result of the following video where it is demonstrated that a LN user cannot withdraw his coins to his own control if the fees to settle on the blockhain are higher than the amount being stored in the LN channel: https://www.youtube.com/watch?v=3AtEGcl7nJY
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It's pretty amazing that some people have been so censored and brainwashed to the point where they can't even see that LN, practically speaking, is a horrible solution. As you demonstrated, you couldn't even withdraw your funds because the fees to do so were higher than your funds in the channel.
The LN "solution" is not a solution at all. Rather, it's an over-engineered complexity which will prevent growth.
We need easy solutions, and BCH scales with ease and practicality, with no modification on the merchant end. LN requires all new software for both users and merchants. I don't see LN winning in any scenario.
On top of that, during the next bull run, the fees on BTC will be MUCH higher than they are now, and people will not be able to withdraw their funds for the same reason that you cannot withdraw your 4 cents right now (as shown in the video). The only difference is that during the next bull run, people will be unable to withdraw much higher amounts, like $50 or higher, because the fees will be prohibitive.
I think the proponents of LN actually do not want people to withdraw their funds. They are re-creating Bitcoin BTC into a new custodial system.
Only rich entities such as banks will be able to withdraw their funds, because only they will be able to afford the fees to do so. Everyone else will be stuck keeping funds in channels always, due to high fees.
The design is pretty clear: It's a remake of what we already have today. Banks holding people's funds.
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source https://www.reddit.com/r/btc/comments/at6oak/why_the_lightning_network_is_recreating_the/
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