~0.6% taproot transactions so making multisig look the same as a single signing key and more complex scripts look the same until you use them doesn't really have privacy benefits right now because adoption is low due to lack of compelling reasons to switch to it for most people.
Conversation
It was /just/ activated. Bitcoin being an actual decentralized chain means adoption takes a while
1
1
Bitcoin mining is hardly decentralized and the vast majority of users don't use their own nodes. I'd be interested in knowing how many people owning Bitcoin even do self-custody. At this point it largely exists for people to speculate. That's why fees are low, not Lightning.
1
1
This Tweet was deleted by the Tweet author. Learn more
Bitcoin did at one point start getting rapid adoption and quickly hit layer 1 transaction limit which is where the nonsense narrative about it being a 'store of value' rather than a 'medium of exchange' started since it was all tied to a massive speculation driven price increase.
1
To me, the purpose of Bitcoin is earning it and spending it. It's cash. That's how we use it. It's currently very good for using it as a very cheap internationally wire transfer system with shit privacy. It'd stop being good at that again if people started using it more again.
1
Lightning works decently as someone filling up a wallet and spending money. It's a pain in the ass as a merchant or to receive donations. It's terrible for the payroll / wire transfer type use case. It Bitcoin fees went above a couple dollars we'd use something else in practice.
1
This Tweet was deleted by the Tweet author. Learn more
Settlement volume going up is a much different thing from actual usage. Settlement volume could massively go up from exchanges and other centralized services sending money between each other.
Lightning is needed for real time payments but most people aren't doing that.
1
The main deployment of "Lightning" only really uses Lightning as a fallback for Bitcoin-based tourism and the rest of it is a service's paper Bitcoin. Genius tourism move perhaps but in my opinion not really a success story for Bitcoin and more like a cautionary tale about it.
1
Also that works well as a fallback because a centralized service is handling things for merchants. Lightning works fine for the use case of a centralized service for merchants with slightly technical consumers being able to do self-custody. It is pretty annoying otherwise.