Lightning is not anywhere near as private as monero. It's a band aid at best. If it was actually private it would get banned and suppressed like monero.
And attention that Monero isn't the only privacy coin in town, but it is the one that is without doubt more attacked by governments due to its privacy. You don't see the same treatment for neither LN nor bitcoin, instead you see governments supporting it. There is a big difference.
Your link is from 2022 - blinded paths are now here in lightning. Async- and trampoline payments are around the corner. The article is heavily outdated.
I am involved in Lightning and run my own node - it is pretty much private enough for all sorts of micro payments for content creators. Not private enough for organized crime to move large sums, agreed.
You also forget to mention the 51% attack monero recently suffered. Lightning is bitcoin based and way more resilient to that.
The paper does not state what you make it out to be (it sees theoretical privacy-lowering attacks, but not as you state it "lack of privacy"). Practical attacks are not even proven.
And it - too - does not look into trampoline payments. Trampoline payments are a new feature that are not yet in a BOLT standard, but tried and tested in beta and used i.e. by Phoenix Wallet or Electrum.
>I am involved in Lightning and run my own node - it is pretty much private enough for all sorts of micro payments for content creators. Not private enough for organized crime to move large sums, agreed.
I don't get it. It's like saying bank transactions are private enough for all sorts of micro payments for content creators, but not private enough for organized crime to move large sums. Technically true, but...
You do not even acknowledge that monero payments take minutes (plus waiting for X confirmations) up to hours to finally settle. Lightning payments are instantenous, and take seconds (!). While moneros privacy might be higher that lightning, it is completely unusuable as a web micro-payment network.
I don't think you ever used Monero because payments are settled in a few minutes and the user gets fast notification of incoming transaction.
So that point you raise is fake. However, if you want to pick a more realistic reason then complain about the fees which are still high when doing for example a payment of 5 cents and the fee will often also be 5 cents whereas it should be free.
Anyways, I'm not even a fan of Monero being used for that purpose. The conversation here was about privacy and the lack of it on some virtual coins.
There is no point discussing with you, you twist every argument around - "...payments are settled in a few minutes and the user gets fast notification of incoming transaction." is not even contrary to what I wrote, you repeated my point. Minutes to clear a transaction vs. a second (sometimes a couple of seconds) is not even close to comparable. Anyway, I am out of this thread.
What's the "meta" like to find payment channels? That's the thing I found weirdest with LN, I needed to find a channel with enough funding. I presume the custodial LN providers just have their own payment channels?
There is a sweet spot between custodial and self-custodial wallets: "non-custodial" wallets like Phoenix Wallet or Electrum. You keys, your coins - but expect higher fees (which are still way less than CC providers or other payment processors). No need to manage channels yourself.
