As Bitcoin becomes the value everyone wants, it increases in value.
Ppl will be opening channels for what is now 100 Sats.
A Sat now will be considered a whole Bitcoin in the future. ALL VALUE WILL BE DENOMINATED IN SATS.
Discussion
I understand that. But it won’t cost 3 sats to get your transaction into the next block like it does today. On a bitcoin standard, the whole world will be bidding up to get into the next block. Two years ago, the fees were around 100 sats/vbyte. Opening a 100 sat lightning channel when it costs 100 sats to get into the next block doesn’t make sense.
You're actually not understanding.
What if a transaction cost 1/100th of a Sat?
What happens when 1 BTC is equal in value to $50 M?
As long as there is never more than 21 M Bitcoin, then it is still infinitely divisible.
Well right now, you can’t divide sats on the base chain.
Are you predicting that transaction fees on Bitcoin will remain at these levels or possibly go lower? Right now we are at 3 sats/vbyte. Only a small percentage of the 8 billion people on earth are using bitcoin. On a Bitcoin standard, do you think these fees will remain low? Even if Bitcoin is at 5 million dollars, the scarcity of the block space doesn’t change. The richest people, corporations, and businesses will be fighting to get their transactions in.
Have you heard of Lightning ⚡, or Cashu! nostr:nprofile1qqs9pk20ctv9srrg9vr354p03v0rrgsqkpggh2u45va77zz4mu5p6ccpzemhxue69uhk2er9dchxummnw3ezumrpdejz7qgkwaehxw309a5xjum59ehx7um5wghxcctwvshszrnhwden5te0dehhxtnvdakz7qrxnfk
Yes I believe custodial lightning is our best bet at this point. A lot of people don’t like that answer but there can be reasonable tradeoffs made with it. Tools like this also exist which reduce custodial rug risk
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