If the Coinbase app supported it, that would allow all of the Coinbase users to do real decentralized micropayments.
Any theories, why they don't do that?
If you want an exchange that keeps up with the ecosystem you should use someone else. Kraken qualifies: https://blog.kraken.com/post/13502/kraken-now-supports-insta...
What? They’ve been supporting segwit addresses for years
You only get the transaction size discount with “native” segwit transactions that are BECH32.
https://www.ledger.com/academy/difference-between-segwit-and...
https://blockstream.info/tx/62c16aeb80944ed8e6d4c896dbd88661...
"Oh, you also have a lightning app? Cool, I'll send you the money this way."
LN is also unreliable to this day and i frequently get routing issues about 15% of the time using the most popular custodial LN wallets and sending to popular LN payment gateways. I'm guessing it would be even worse if i was transacting with small shops or self-hosted LN users. This would be a massive customer support burden.
I know he’s said this but it’s 100% bullshit since Kraken is able to list XMR just fine.
LN is definitely good for something where there's an in-person exchange of goods so at least potential abuse would leave someone at a physical location with surveillance footage, or where there is a subscription service that can be turned off if the payment turns out to be fraudulent. LN has a higher likelihood of assurance of funds delivery in a timely manner than a credit card -- but that there are entities developed that will insure traditional credit transactions.
2. It requires a transaction to L1 to open/close a channel. If 1B+ people used it the Bitcoin network itself couldn't cope with that. At 7tps it can handle a max of 220M transactions per year.
3. You need enough liquidity in all channels to your destination to send a payment. This is fine for micro transactions but it can't handle $1k+ transactions well at all.
4. You have to re-balance channels or they stop working.
5. You need some sort of watchtower / guardian node to prevent the other person from being able to steal your funds.
ZK-Rollups completely obsolete the lightning network. If Bitcoin did a hard fork to make them possible every single person would migrate to them. Lightning is not a long term solution, it's mostly a meme to throw back at people who say Bitcoin doesn't scale.
You can't use it to make a payment to an unrelated person without opening a channel. So there's a "routing layer" where you find a channel in common, like trying to send a UUCP email. e.g. if you wanted to send to another coinbase user, you'd send over your channel to coinbase and they'd send it out again over their channel.
But then .. you could just both use a coinbase payment account?