Due to his limitation the Lightning Network is unsuited for any large scale use outside of exchanges.
>Due to his limitation the Lightning Network is unsuited for any large scale use outside of exchanges.
But do we need to onboard everyone everyone in a year? It's like saying the internet will never scale because modem manufacturers can't keep up.
AFAIK they can be kept open indefinitely.
>Plus, I think you'd ideally want an account with each vendor that you deal with, not just one account, otherwise I think the channel would probably need to be managed by some central authority who manages the accounting between you and whoever you're keeping these side accounts with
The whole point of lightning is that you can use the network to route money between nodes, so you could make payments even if you don't have a channel open with the person you want to make payments with. It's not unlike how international wires work. If you bank with a local credit union in country A and you want to wire money to another local credit union in country B, the wire might bounce between multiple "correspondent banks" eg. credit union A -> big bank A -> big bank B -> credit union B.