Discussion
Thank god we have a meme to explain this to us.
Now I can feel vindicated telling people eCash is a L3 on Bitcoin.
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How is it not?
No permissionless exit
How does that not make it a layer 3
Do you consider coinbase, kraken, bank btc balances a layer 3 bitcoin?
Yes. A layer is an abstraction. Not all abstractions are created equal. Considering something a layer isn't an endorsement. E.g. cashu is amazing, Coinbase is a cancer.
Bro just said "Coinbase is a layer 3 for bitcoin"
Bro doesn't know what a layer is
What is your definition of a Bitcoin layer?
I think the proper logical framework for layers isn't a Bitcoin specific thing, but rather just a property of complex systems in general. Fiat has layers, (some) shitcoins have layers, Bitcoin has layers, the internet has layers, etc.
A layer is anything that abstracts some lower level construct. Are Bitcoin IOUs on exchanges an abstraction? Yes. A shitty one, sure. But still a layer.
It really is.
If you can't trustlessly settle back on-chain, it's not a Bitcoin layer
If Bitcoin is layer 1 in the OSI model, what is layer 3?
Mo money mo problems
Yes, but is more easier to explain eCash as a "layer 3" of Bitcoin.
Your meme are fantastic 🤣🤣🤣