I’ve also thought about this. But it’s important to also be as geographically distributed as possible as well, so a node running in a remote part of the world is just as important as one running in NYC.
The easier that is over time also helps distribute the network as it currently is over time as well.
So while possible, it may be decades down the road and multiple factors of adoption before that makes sense. It’s a marathon, not a sprint.
True, spreading geographically is important, but people won't run nodes, if they can't use or own onchain funds, because of high fees, we will them them to trust in something like a fedimint, so why can't we tell them own your bitcoin onchain if you want and use a community owned node shared by many?
Yeah, it’ll be interesting to see how it all plays out, or how we’ll even view money 100 or 1000 years from now. Like, it’s a pure money that humans have never had.
In the meantime, it may turn into an uncle Jim model. Which I guess is still better than trusting your banker, visa/mc, the police, the justice system, the fed, the government, etc.
But bitcoin will reprice everything. So the more people adopt it, the more things like nodes will be cheaper to own and run by those that own bitcoin. Which eventually will be everyone. Like anytime I see how bitcoin is being used in Africa, I have this feeling they’re going to just leapfrog the world in so many ways if adoption and mining continues there.
I also have a different take on fees being “high”, as they’re just a reflection of the market at any given time. We also equate it with fiat relativity, yet they’re paid in sats. I think humans will adapt to the pure efficiency that is that fee market, and will be longer term thinkers.
Again, it’ll just be a giant psychological shift and no one really knows how it’ll play out.
Yeah this thought is like 20-30 years out in my mind (although tech acceleration could push the issue much faster).
I just ask myself "If bitcoin was launched today is there anything that would be tangible different?" and that's the only thing. Bitcoin launched in 2024 would like select a larger blocksize as its decentralized standard just because technology has progressed significantly since 2008. This kind of progession has histroically compounded, so like in 2050 will Bitcoin being shackled to the 2008 hardware/bandwidth standard make ANY sense?
No one can say, of course. So we'll just have to see but I definitely think this will become a really discussion at some point. Also seems like the only ways self custody could ever really scale - tech infrastructure has to scale massively first...
Yup. I often think bitcoin cash was just 50 years too early lol
It makes sense to always optimize and defer to more decentralization and security.
