Comments by "Doncarlo" (@doujinflip) on "Operation Bitcoin in EL SALVADOR: the DOWNSIDE - VisualPolitik EN" video.

  1. Because the prices you pay aren't tied to the amount of your wealth, so of course the poor end up spending more of what they have on regular living expenses. For most people there simply isn't enough to set aside into investments and simply live off the gained equities and interest.
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  2. Lightning is basically an off-block side channel where microtransactions can be done before publishing it into the main blockchain. It trades the blockchain's inherent security for convenience, and there are scenarios where this can be used to compromise Bitcoin transactions (e.g. mass closing of channels and flooding the block, creating errors in legitimate transactions in the race to verify them all).
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  3. Yet Visa can handle tens of thousands of transactions per minute globally, whereas Bitcoin has to compromise the inherent security of the blockchain with Lightning side channels just trying to keep up. And that's considering most people with a cell phone haven't even generated their own crypto key pair yet, while happily moving money through transfers of airtime credit and other financial apps which structurally operate more similarly to traditional banking and card networks.
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