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RE: WATCH THIS VIDEO: How Segwit Could Disrupt Bitcoin / Bitcoin Cash Causing Black Swan Event?
Isn't there a big risk of centralization with lightning networks due to specialized, permissioned hubs? Plus, the lightning transactions have to be written back to the main chain at some point, no? So the 1mb block limit will hamper even the lightning network.
well I am no expert, but even today off-chain takes a lot of micro transactions...
many inputs can be collected and sent as 1 payment instead of thousands...
you only truly need on-chain to securely move big amounts of money...
think of it as debit account, shop gift card without expiry date or a check book, you put $1000 worth to your local shopping account and don't pay any fees every time you make a purchase, shops will love this too, because they would only need to cover BTC --> fiat from time to time, min deposit should apply, because this wouldn't work if users spam shop with small deposit trash transactions...
all the benefits of crypto still apply:
no counting the change, no password typing for a credit card, and no need to carry wallet whatsoever, free pockets (which leads to pants keeping good looks for longer time) and so on
the only problem I see is recognition... do you get an ID card or some electronic no contact device to prove you have debit account...