Replying to Avatar S!ayer

any way, let's not get side tracked with economics,

Bitcoin, in order to function and any viable transactional monetary level on par with competitors, needs to use lighting network, a third party chain.

apart from it's fixed supply, Bitcoin is slow to process and finalise transactions, requiring a third party solution.

So it's an underlying asset, not a 'sound money system'.

If you want that, use Monero - and guess what, it has an inflationary tail emission, allowing for new market entrants, even when coins are lost. The economics of that lean towards "sound money" more than BTC does in it's current knots/core whatever state
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Michael Wilkins 5d ago

Bitcoin is slow by design because it prioritises final settlement and verification, not retail throughput. That does not make it “just an underlying asset.” It makes it base-layer money.

Lightning is not a third-party chain in the custodial sense, it’s an optional second layer that inherits Bitcoin’s security and can be used non-custodially. Optional layers don’t negate sound money; they’re how sound money scales.

Sound money is defined by scarcity, verifiability, and resistance to discretionary issuance, not transaction speed.

Tail emission is a policy choice, not a requirement. Permanent inflation does not make money sound; it makes dilution perpetual.

Anyway, I’ll end this debate here. It’s clear we have different views, which is perfectly fine. These kinds of discussions are necessary for progress, even when there’s no agreement.

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S!ayer 5d ago

Saying "base layer" is the same as "underlying"

Lighting is indeed a third-party chain created independent of Bitcoin but allows throughput. Like how visa and MasterCard and Alipay are used to move USD.

Your just explaining exists finance where promissory notes are issued in replace of cumbersome, slow by design reserves like food, gold, oil etc.

Tail emission allows for economic growth..

Different views? You've said most of what is known in economics in the right sense for the most part. Idk if you studied economics at university or what, but I only know what I know because I had to write exams and qualify so it's just years of it at this point