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by Timja 965 days ago
The question asked on that video does not mention lightning.

But his answer begins by explaining lightning.

Back early on forsaw that lightning is the way forward and not larger blocks. Which is another indication to me, that he is indeed Nakamoto.

It was a great insight very much in line with Nakamoto's thinking. Nakamoto who forsaw so many things early on like the need for a script instead of just transaction data on the chain.

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Meanwhile, in actual 2023, Bitcoin once again has bloated mempool and high transaction fees while big block Bitcoin cash is clearing regularly.

I think we have enough real history at this point to dismiss the notion that "lightning is the way forward" in an absolute, concrete and not theoretical way.

Entries on a blockchain are auctioned of in an auction which allow arbitrarely low bids. So it is to expected that there is a long tail of bids with a low chance to win.

If a mempool clears, that just means there is limited demand to use the chain, even for free.

Satoshi was for raising the blocksize:

> It can be phased in, like: if (blocknumber > 115000) maxblocksize = largerlimit It can start being in versions way ahead, so by the time it reaches that block number and goes into effect, the older versions that don’t have it are already obsolete.

Given that lightning still has shit UX without relying on third parties should be proof enough that it was and still is a terrible idea to rely on for Bitcoins usability.

Before lightning was a thing, he anticipated the block size would increase over time. And he changed his mind when the idea of level 2 came up. Which was the right thing to do. But hard to understand at that time.

UX is a problem throughout all crypto. No matter which coin, no matter L1 or L2. It's all still like the internet before the 90s.

He sure changed his mind!

From a revolutionary new form of money, to suggesting people should develop their own app for tabs...