Crypto currency Debit Cards are the superior long term 2nd layer or off chain solution. Lightning Network cannot compete.

I have been pondering deeply about 2nd layer solutions for crypto currency lately. One of the most controversial topics regarding this is the Lightning Network. The lightning network has so many red flags regarding its design that I cannot possibly list them all here without going mad and that would only cover what we currently know right now, it seems that new potential problems arise every day.

So while exposing the dumpster fire, that is the lightning network, I have begun to ask myself what solutions would genuinely be ideal. And that is when I remembered that Bitcoin Cash is potentially going to get a debit card.

So what happens when we compare a Visa Debit card to the lightning network? The results are simple honestly, the debit card doesn't just blow it out of the water in every way, its more likely to happen first anyway.

From the prospective that a Visa Debit card is a 2nd layer solution we can draw the following comparisons.

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- Visa Debit card and Lightning network are both very centralized systems.

The lightning network requires that you have centralized hubs. These hubs require a lot of btc to be tied up in the channel in order for peoples transactions to work reliably. This means that you may need at least 20 grand worth of BTC tied up in the channel and that's only if you are a fairly small hub!

A lot of people claim that with the lightning network nobody controls your coins but this is not true at all. If all Transactions are forced through hubs then those hubs have full control over your money. The Hubs can do whatever they want. Black lists, white lists, fast lanes, slow lanes, additional fees, you name it, the hub can and probably will do it.

Visa Debit cards pretty much have the exact same problems on this front. The money you put into are account is not really your money anymore.

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- Visa Debit cards will instantly work on day one while lightning network requires hubs.

Think about how long it took to even get people to talk about Bitcoin in public. Now imagine making it 4 times as complicated and messy. Pro lightning network people are vastly underestimating how slow it will be before mass adoption is possible. The hubs will be expensive and from the looks of it the HUBs will be government regulated as well.

It would take an eternity for people to properly support this system with enough hubs to do daily transactions. Look at how long its even taken for Coinbase to support segwit! That hasn't even happened yet! Now we need to toss these insane super expensive and regulated hubs into the mix.

I think a Debit card is better here by a lot.

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- Visa Debit cards are a proven concept and already work today. Lightning network appears to be fighting with reality.

We already know how a debit card works. Its been done for awhile now. Its practically a drop in solution. Lightning network is still a complete technical disaster with all kinds of things that still need to be figured out.

Visa Debit cards are simple while the Lightning network even more complex than Bitcoin is in the first place. You want to explain to grandma how channels work now too? No just give her a debit card damnit...

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- Lightning network punishes people for not using it while Visa Debit cards improve on chain transactions even more.

Core is currently keeping the block size down as much as they can to make it so you are forced to use the lightning network. If you decide to not use it then you are hit with massive fees and slow unreliable transactions.

A Visa Debit card on the other hand would be a great relief to people who do not want to use it. Visa Debit transactions would likely not be considered on chain. Thus the vast majority of your smaller transactions would be on the debit card. People who wish to stick to on chain transactions will experience less congestion and thus lower fees and faster transaction times.

Its better for literally everyone. Sure you give up control of some of your money but you don't really have to use it. Win Win. With the lightning network you get all of the problems with none of the benefits.

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- More competition is possible with Visa debit cards.

The Lightning network is a system that changes the core functionality of the coin. This means that if you don't like it your only option is to jump ship entirely. With a Visa Debit card pretty much anyone can do it. They can all offer different things and create a very healthy market. They can compete for your business.

And it can all happen on the same coin at the same time.

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And finally its worth mentioning that Bitcoin Cash isn't the only coin I know of that is offering visa debit cards.

https://mona.co/cards

A coin called Monaco appears to have setup a waiting list for people to begin receiving their debit cards. I have known about this coin for a few weeks now but it never clicked in my head just how good it would be to have a true debit card like this.

Monaco is number 77 right now on coin market cap. At first I was ready to get this badboy into my portfolio but its kind of in a funny situation at the moment.

People appear to either love or hate the coin right now! But a waiting line of 30k means I have some time to kick back and see where things go. I might wait it out and go for the Bitcoin Cash debit card for sure. But who knows, maybe I need to be watching this coin more closely.