"They have no intention of Individuals using LN.
Their (not publicly stated) plan is for large financial institutions to form hubs and use LN for intraday trading before paying $1000+ fees to settle on the BTC network
Individuals will have dumb legacy banking style accounts with these LN hubs or “bitcoin banks” leaving us open to the standard fractional reserve shenanigans while they themselves
enjoy the protection from systemic failure afforded to users of cryptographicly secured sound money
This is why the likes of AXA invested in Blockstream
Imagine a financial crisis/bank
run under this system. Only the individual customers of a failing institution would be fucked, other institutions would be protected from fallout by their funds being secured from
contamination by LN and BTC assurances.
Take a legacy banking system that’s too big to fail and make it technically immune from failure... all at the greater expense of
individual account holders."
