Is there actually enough block space for everyone to be sovereign tho
Discussion
There is not enough blockspace for everyone in the world to casually use the main chain the way plebs have for years
Starting to think it’s gonna cost a GRIP to move my cold lock up one day…I imagine as block rewards dwindle fees will increase. Can’t imagine what it would cost to move 1btc in 20 years in the main chain at this rate
Just don’t have a wallet/xpub where the whole thing only has one not large utxo
No. As it stands today, if adoption really goes mainstream, we will end up with layer one being something that only nation states, major banks, and the world's billionaires transact on while regular people are priced out and forced to transact on L2.
This is probably best. There is no privacy on the base layer.
However we must ensure that self-sovereignty is available to all who want it on our L2 solutions.
Custodial L2 is just banking system 2.0
I believe the answer is no. The network can’t process billions of transactions per year on main chain. Final settlement will be main chain but most folks will need to own IOUs or others utxo (lightning). I’m still early and am probably wrong ha