We beat it last time.
First they came for the custodial wallets
Lightning scales very well. Your information is outdated. A single bitcoin transaction can open a lightning channel. You can have trillions of transactions in a lightning channel between you and anybody else with a lightning wallet. All settle instantly for pennies in fees. They literally happen in under a second. In the last two months, Nostr users alone (decentralized twitter clone like Mastodon) sent each other 2.6 million tips (individual transactions) over Bitcoin lightning. Lightning is decentralized and trustless, just like Bitcoin.
No matter how you slice it: market cap, number of nodes, number of transactions, value of transactions, etc. Bitcoin is on a 15-year trend of growth on average.
Chat control was beat. This can be too. Contact your MEP, let them know this issue is important to you: https://www.europarl.europa.eu/meps/en/home
Chat control was beat. This can be too. Contact your MEP, let them know this issue is important to you: https://www.europarl.europa.eu/meps/en/home
Chat control was beat. This can be too. Contact your MEP, let them know this issue is important to you: https://www.europarl.europa.eu/meps/en/home
Chat control was beat. This can be too. Contact your MEP, let them know this issue is important to you: https://www.europarl.europa.eu/meps/en/home
Crypto won’t scale
And yet every year, for 15 years, the transaction capacity has continued to increase. Networking protocols (TCP/IP, SMTP, etc) also didn't scale to "internet scale" in the first 15 years. They just kept adding new layers to the stack and optimizing it until it did. Just like Bitcoin added Lightning, Taproot, etc to improve scaling.
In the last two months, Nostr users alone (decentralized twitter clone like Mastodon) sent each other 2.6 million tips (individual transactions) over Bitcoin lightning. None of that requires an on-chain transaction, none of it required high fees. It works. It scales. It continues to improve. Lightning has capacity for trillions more transactions because capacity is not tied to chain space.
Also bitcoin isn’t even private and you are basically shouting to the world every time you make a payment.
Bitcoin is pseudonymous. If you make a wallet, nobody knows you own that wallet unless you tell them (or a third party like an exchange), but the balance and transactions on-chain are visible. There are ways to make your transactions more private, like coinjoin, you can have multiple addresses with multiple coins.
With lightning, transactions are opaque except to you and any nodes you route through, because lightning transactions don't go on chain. This also means nobody knows your current balance. If you make a transaction between two lightning nodes that share a channel, nobody knows that transaction was made outside of those two nodes. Privacy continues to improve, see BOLT 12 for the latest upgrades in this area.
Bitcoin has been hacked so many times it isn’t even funny anymore, it’s just sad, including a $300 million hack just a few days ago.
Bitcoin has never been hacked. Nobody has ever been able to print money the protocol doesn't allow nor spend money without the appropriate private key. People have had their Bitcoin stolen, which is like getting your wallet stolen IRL, but we don't say 'The USD got hacked' or 'The USD is insecure' just because that happened.
And hour of downtime? Bitcoin has also had that numerous times, where you haven’t been able to process exchanges at all for hours and hours.
That's not downtime, that's congestion. It never stopped processing transactions. If you paid a high fee, you would go through immediately. And that's happened rarely and doesn't effect lightning transactions which are the ones you use if speed is a priority.
At a high demand time, it could take hours to complete a transaction (if it even went through at all) and with an outrageous fee up to dozens of dollars.
Bitcoin has never been known for time efficient nor competitive fees (except for maybe in the beginning when nobody uses it).
At least you admit people use it. Bitcoin lightning enables transactions in under a second for pennies in fees, it's been around for 5+ years. Your information is outdated. In the last two months, Nostr users alone (decentralized twitter clone like Mastodon) sent each other 2.6 million tips (individual transactions) over Bitcoin lightning. None of that requires an on-chain transaction, none of it required high fees. It works. It scales. It continues to improve.
Not true with lightning. Lighting transactions are known only to the sender, recipient, and any intermediary routing nodes, not the entire world. Even on main chain, You can make as many addresses as you want and achieve significant privacy/anonymity using techniques like coinjoin.
Maybe in the first year or two of operation, but it's been more stable than my bank, my internet connection, or the credit card processors, all of whom have had major outages since then. Which is 10+ years.
Two hours but 99% of the time the next block comes in 10 minutes. Still faster and cheaper than a bank wire or other common payment scenarios. Lightning wouldn't be effected by this. This happens less often as the network grows and stability of hashpower increases. If you need speed, you use lightning, not main chain.