True, spreading geographically is important, but people won't run nodes, if they can't use or own onchain funds, because of high fees, we will them them to trust in something like a fedimint, so why can't we tell them own your bitcoin onchain if you want and use a community owned node shared by many?
Discussion
Yeah, it’ll be interesting to see how it all plays out, or how we’ll even view money 100 or 1000 years from now. Like, it’s a pure money that humans have never had.
In the meantime, it may turn into an uncle Jim model. Which I guess is still better than trusting your banker, visa/mc, the police, the justice system, the fed, the government, etc.
But bitcoin will reprice everything. So the more people adopt it, the more things like nodes will be cheaper to own and run by those that own bitcoin. Which eventually will be everyone. Like anytime I see how bitcoin is being used in Africa, I have this feeling they’re going to just leapfrog the world in so many ways if adoption and mining continues there.
I also have a different take on fees being “high”, as they’re just a reflection of the market at any given time. We also equate it with fiat relativity, yet they’re paid in sats. I think humans will adapt to the pure efficiency that is that fee market, and will be longer term thinkers.
Again, it’ll just be a giant psychological shift and no one really knows how it’ll play out.