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I don't buy the increased centralization argument. It usually comes down to the problem of orphan blocks / block propagation, a problem which has been made sign
by __blockcipher__ 9y ago
I don't buy the increased centralization argument. It usually comes down to the problem of orphan blocks / block propagation, a problem which has been made significantly better over time.
Even Satoshi was convinced that the block limit would be increased (it was only added for ddos protection reasons). He didn't even foresee the "block size debate" as an issue because it was never a debate. Of course the transaction throughput would be increased.
He literally said "Bitcoin never really hits a scaling cap".
Now, I'm not saying we should deify them or assume that they thought of every potential issue. But I think we should be very hesitant to deviate from their vision without an actual justification.
I believe that the community has been poisoned by people who don't even understand the original vision. As soon as Bitcoin Core / Blockstream got involved after Satoshi left the scene, everything went to shit.
Lightning is fundamentally an inferior user experience. You should be able to send money instantly without a third party. THAT was the point of bitcoin. Not to force people through a new type of financial institution (lightning hubs), solely to fix a manufactured fee problem.
- EGreg 9y agoHow is it instant? It takes 30 - 60 mins to have enough confirmations to be sure, and also pay a fee for miners to even take your transaction.