Indeed my friend!
IMHO in the future (10/20yrs) not even #lightning transactions will be as common as #ecash and #cashu, and these are super anonymous and private.
Onchain transactions will be like now moving funds directly from the FED or a Central Bank, almost none will be able to.
Yeah I looked at how fedimints work on a technical level and I must say I'm not the biggest fan of them, even though some parts are really promising/interesting. The fact that if I buy a coffee in another town with a different mint costs me more than in my own community because of the LN fees between the mints somehow doesn't feel right to me.. People are used to buy a coffee at Starbucks in LA and NY and it costs the same...nAlso I'm not a fan of the fact that there's a bunch of people holding the keys for a bunch of others... anyhow... we'll see what happens in the future. :)
You must be new, if in your future the central bank still exists to make on-chain transactions.
What purpose does it have?
.. not sure what you mean by new.. anyway, what I said was a comparison. Will explain myself better.
In the future I explained, Bitcoin is so distributed and adopted that the avarage person will never ever transact onchain (unless it's a long time bitcoiner or has a big stack). Today you, as individual can't transact with the FED, only institutions do. Bitcoin onchain transactions are very limited, again, if Bitcoin will be used let's say by 2B users, how many transactions every individual could do in a year? Do the math... So how higher the fees will be? Not only that.. if 2B people is using it, means the value in $ is much more what it is now..
So, if now we see transactions of 100/300 sats per byte expensive and you can get more than 2000 sats per dollar.. Transactions will be in that future even higher, in actual dollar terms, just astronomical.
Do you think you will transact onchain in 10/20 years from now to buy a tv, or pay the restaurant? Sorry yo disappoint you, but that will never happen, and very likely your grandkids and mine will never do transactions onchain, since they will never need to move that amount of value, and probably will never have that.. for sure not mine, because yes I am pretty new, and in these 3 years I wasn't able to stack the amount of sats will be needed to have transactions onchain.
Curious to know how "old" are you here..
P.s. the purpose is to separate my money from the State, not to transact onchain.
Very old. But that's not the question.
I was merely laughing about your future where BTC is so prominent in our lives that separation of money and state is achieved, but the FED is still a thing as if it's not a temporary construct/institution that also needs to serve a purpose.
Bitcoiners talk a lot about ETF - ending the FED. But in your future it's the FED doing the expensive transactions?
No Man I made only a comparison..
2024 institutions transacts with FED = 2042 Me transacting onchain
My hope is the FED went obsolute and being dismantled with all other Central Bankers many years before 2042.
Again my point is, onchain transactions will not be doable by common people.
