Just wrapped up an awesome chat with @npub1xvtw...64sa.
We unpacked Spark, Ark, and why Justin calls them “fake L2 solutions”
and discussed what real Bitcoin scaling could look like.
Stay tuned!
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Looking forward to hearing it. I have a lot of respect for Justin, but I’m also a realist looking for practical solutions for non-KYC onboarding for Lightning that just works with no dials to tweak on the user end — and I say this as a node runner and someone who has helped lots of others set up their own. Lately, I’ve been exploring all the new L2 protocols with an open mind, and I guess I’m just a lot more bullish about them than others because of the UX advantages they offer.
@Momo you have always been a net possitive for #bitcoin with your appearance on @21st Capital SM channel. Hopefully you keep on working on your own #bitcoin show. 🧡
I already read this when you posted it on Nostr a few days ago. When I walk a mile in the user’s shoes, the part that is always the biggest nonstarter is the process of paying an on-chain fee out of their first incoming payment, which has to be a large enough one to establish a channel, and will at some point randomly close, leaving the user wondering where to find their money. I’ve seen it happen countless times. Any wallet that requires one more brain cell to learn how to use than Venmo is destined to be abandoned. People just go back to full custodial services when all else fails.
That link is to a second revision to address some of this.
The reality is fake L2's don't do anything differently than custodial solutions. They've just re-branded. There's no changing of the underlying physics, there's no free lunch, no solutions- only tradeoffs, fake L2's are just scamming.
No doubt that Lightning wallets are bad right now, but this is mostly downstream of mobile node fantasy. This is why I have shifted focus completely to ShockWallet and Lightning.Pub, no one else wants to be honest about this reality.
Pub uses trust too for bootstrapping and scale, because again there are no solutions. But, we're decentralizing that to the local extreme, not re-centralizing it.
It means a lot to me, bro! Sure, I’ma keep working on my channel everyday!
Yeah, I hear you. I also think even fake L2s may spark (pun intended) some better ideas for future and I believe as long as one knows compromises they’re making, less secure and private solutions may work too.
I am also willing to have people who actively work on Spark and Ark to get their views.
You should get @Jesse de Wit on.
Defo!