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The Cons of the Lightning Network

Okay, first of all, I do like the Lightning Network. It truly is lightning fast (if it is routed properly.) However, there is one fatal flaw. So what is it?

There is absolutely no record of the intermediary exchanges!!! Okay, even for the coffee shop use case, I do want a record of how many cups of coffee I have consumed throughout the lifetime of the payment channel.

The other day I noticed one of my channels connected to a prominent LN node has depleted all of its funds. It is supposed to have a capacity of 0.001 BTC. I see my balance as 0 BTC. I don't remember spending anything. I immediately suspected the opposing node is stealing all my funds without my consent. I also see that I am not the funder of the channel. Then I got even more anxious. Is the opposing node able to change these states at will, giving that the LN is still in beta? I panicked and started to examine the TxID, but that is only for the moment of opening a channel. I don't recall transacting any amount with this particular node.... or maybe I have? I don't remember. I have been spending too many 150 satoshis to read Y'alls articles. I also tipped everywhere I could to test lightning payments. Then I started worrying if this is a relaying issue.... but I don't find any records of relaying activity.

Then I reckoned that yes I have once opened a channel with this node, but then I have closed it a couple days ago. This node has counter-connected with me! So everything is actually fine. That is why I am not the funder of the channel and why my balance is 0, because it is only an uni-directional payment channel. Phew!


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