l1 is the bottleneck, sure. but phoenix uses splicing to optimize footprints. wbtc is just a centralized iou; ln is a protocol. ln isn't a ghost town, most just suck at channel management.

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weev's avatar
weev 1 week ago
If you have to not suck at channel management, lightning is worthless as a protocol. If to use it in self-custody you need to be have exceptional knowledge and competence, it is worthless as a protocol. And I highly suspect the people that “don’t suck” at Lightning channel and liduitity management have never actually run it in an adversarial environment where people are willing to spend resources to target them. It’s Herman Hesse’s Glass Bead Game.