The common recommendation I’ve heard is that you should open lightning channels with at least 1 million sats. There are about 8 billion people on earth. The math doesn’t add up.
Discussion
That's assuming 1 million sats will always be worth what they are now haha
Right but if the size of the channel you open gets smaller, at some point it becomes too expensive to open because of the high fees on the base chain. Imagine opening a channel with half a million sats when fees are high. That’s why I’m asking because I’ve heard a lot of bitcoiners talk about this problem and they’ve said that a lot of the transactions have to be done on other layers. Custodial seems unavoidable.
Not agreeing or disagreeing with you as this can get too speculative.
But I can speak reliably about how I plan and manage my set up.
I make sure I have a decent amount of inbound for my needs, which are quite predictable. I add a slight extra buffer just in case of course.
I either lease inbound from an LSP or open a channel myself and clear out sats to make room for inbound.
I see custodial wallets as a quick temporary fix that I can use as a short-term solution to reduce costs. But I'll eventually shift to self-custodial once the fee market looks more favourable.
I’m not even trying to argue i just had legitimate questions. I don’t understand this enough. Does anyone think the future of bitcoin is going to be custodial lightning or some other solution like ecash? Maybe a combination of all these things
To be honest, I don't think anyone can know. Different people have different needs and preferences on how to custody their sats.
Based on the technical developments and the fee market conditions I've seen so far, I am not worried.
A combination of everything that exists right now and more is a good, 'safe' answer 😂