"Be your own bank" should be for everyone!
I miss the old days when bitcoiners talked about empowering billions of unbanked people around the world.
Now the prevailing attitude from many seems to be "If you can't afford to make a transaction just don't" and "just use custodial lightning"
Are we really fine with building banking system 2.0 and financial self sovereignty only for the wealthy?
Because that's exactly what we already have today minus a hard cap on the money supply.
The hard cap on the money supply is how you empower billions, slave
At some point there will be another block size war. Probably when the cost of a single onchain transaction approaches the cost of running a full node for a year. Who knows which way it will go.
Agree. We'll have to revisit that debate eventually, unless somebody much smarter than me comes up with a more clever and elegant solution to the problem. Arbitrary block size, big or small, has problems one way or another. Dynamic block size, with certain constraints, might be a solution.
I still think L2s are the way though. The more we grow lightning and add channels the better probably.
All I know for certain is custodial solutions are not the way.
Self-custody is only possible on L1.
The block space is limited and fees a getting high with only thousands of users.
To onboard billions we will need custodial solutions like Liquid, Fedimints, Wallet of Satoshi, Blink, ecash,...
That's just math. Limited block space and billion users means high fees, and most people on custodial solutions.
