If X is Bitcoin, X can't ever be ubiquitous -- the math doesn't work.
Full nodes would naturally become more scarce as the size of the blockchain exceeds 1 petabyte, in no time, making the ideal portrayed in the whitepaper of untold numbers of full nodes a relic.
The inevitable contradiction it always was, when those full nodes are spec'd to host a public copy of every transaction across the entire fucking currency (a regulator's wet dream, btw, and Bitcoin's true innovation).
It’s been 14 years and we’re just over half a terabyte. Do the math on when we reach a petabyte. Are we assuming that our hardware will never improve?
Also seems to be that we’re trying to shoehorn every thing every other currency DOESNT do into Bitcoin.
For instance do you think final settlement (what L1 provides) is done when you deposit your bank check? Use Visa?
We have L2 technologies being worked on.
This stuff is working. You’re argument isn’t really convincing.
I'll bet that downloading the entire timechain in 2030 will go faster than it does now. The storage metric is interesting, and the L1 final settlement is interesting too. Maybe we'll stream the last 1000 of blocks on our phones all the time. Maybe L1 will become too expensive for average spenders.
