[CryptoPunk]

The LN network has major limitations that don't allow it to be a full substitute for on-chain transactions.

Let's look at how it affects savers for example. LN channels have a maximum debit-delta capacity established by their BTC collateral. When one party is receiving BTC much more often than they're sending it, the LN channel reaches capacity, and a new LN transaction has to be created with its own collateral.

Any party that saves any portion of their revenue will quickly see their LN channels filled, and new ones required.

This essentially means that low-income savers, like what you would expect to see in Venezuela, will see their income eaten up by transaction fees for continual LN channel setup transactions.

The author should have looked to Bitcoin Cash, which will permit low-cost on-chain transactions at large scale usage levels, or Ethereum. Ethereum is processing 4X as many transactions, representing several times as much USD value, as Bitcoin per day. Its transaction fees are much lower and it has a comprehensive on-chain scaling plan that it is pursuing.