TLDR is in the title really. Small chunks to read. Cool website design.

As for the second part, I’m of the opinion that there is a huge space for improvement with existing bitcoin protocol as is that can help scale us wel beyond where we’re at. On mobile but will try to remember to elaborate some other time at a proper keyboard.

Have you seen this one too?

https://delvingbitcoin.org/t/thoughts-on-scaling-and-consensus-changes-2023/32

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Discussion

To be honest, I don't feel qualified to speak into the current technical limitations of the existing protocol. But the economics of the blockspace seem pretty straightforward to me. Higher demand leads to higher fees. Even with second layers taking some transactions off the main chain, a hyperbitcoinized world has several orders of magnitude more demand, which increases base layer fee rate and pricing out low economic users from self custody. Anthony Towns has a great blog on this conversation as well.

Both pieces from Towns and nostr:npub1ta5sstxzpk7aykejp6cv8eul80m2rjfwvp3rgjw0xgjtp7s3ak5s0c96f7 are referenced in my piece. ✌️