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The Lightning Network Doesn’t Fix Everything Wrong With Bitcoin

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Some bitcoiners are realizing that a single layer 2 project isn’t going to fix everything for Bitcoin overnight, Gckaloudis writes. Opinion for The Node newsletter.

to Bitcoin Magazine’s Bitcoin 2023 conference in Miami, the same answer found its way into conversations about some of Bitcoin’s problems on- and off-stage and on social media again and again.But not everyone thinks Lightning is a panacea for every Bitcoin problem. Some question whether it will be able toWhich is to say, but say it softly: Maybe the Lightning Network isn’t the way Bitcoin can enable fast, cheap, casual, peer-to-peer transactions.

Putting that aside for now, there’s a growing pragmatic view that the Lightning Network is or probably will be good for certain types of payments, but not all types of payments. That doesn’t mean either side is completely correct, but at least the hivemind doesn’t appear to be in control anymore.The Lightning Network very much was and still is an experimental technology.

 

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