| There's a lot of FUD here. It's kind of a straw man to talk about opening LN channels for 7.5 billion people, as if that's something to be concerned about today. Not every man, woman and child has a cell phone or computer right now, so that's not really a concern in 2019. Dispute resolution is built into the protocol: it's a two-way channel; both parties have to agree that the transaction in question took place and either party can close the channel if they wish. And because LN is under heavy development, there are all kinds of new features being developed, like watchtowers that can monitor the channel on your behalf, etc. You don't need chargeback if you can claim your money and close the channel if thing you want to happen isn't happening, right? Yes, other cryptocurrencies (such as Ethereum) can create LN as a layer-2 feature. No, you can't do this with dollars; since there's no cryptocurrency representation of USD with the required blockchain and scripting/smart contracts language required for LN—at least not yet. |
And if the other person disagrees? Crypto falls down at the boundary between humans and the Blockchain every time.