Part 10/12:
- Opening and closing channels involve on-chain transactions and fees, which can be high if network traffic is congested.
The vision is for users to hold Bitcoin mainly on Lightning wallets—potentially even without touching the main chain—yet with an understanding of the trust models and technical nuances involved.
Future Outlook and User Implications
The hosts conclude that Lightning will likely be the dominant high-speed, low-cost layer for everyday use—if abstracted effectively. They emphasize the importance of backup mechanisms, trustless operation for larger amounts, and a spectrum of trust depending on user needs.
Big takeaways include:
- Bitcoin's core must stay simple and decentralized, prioritizing security over scalability.