"If it (bitcoin) ends up being a currency that people use in their every day life..." Bitcoin is distinct from lightning becuase the smart contract can be revoked if the one party cheats. This is not true on the base chain. The misinterpretation is that he is mentioning lightning, without mentioning it. And the falshood is that an asset and a currency are interchangeable and not distinct. Lightning "settlement" must be verified on base chain or it isn't valid. So use all the emojis you'd like, you are inferring something that wasn't said in this clip. And are absolutely incorrect about lightning.
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By revoked you mean lost or stolen?
Not stolen, but certainly one party loses their claim to their side of the channel. The revocation secret sides the channel to the victim. Either you cheat, and your counterparty produces a valid revocation secret. Or the counterparty is offline and they lose their side of the channel, at least partially, absent a watchtower node.