If we assume Bitcoin base layer = gold, and we understand both base layers aren’t hyper transactional, we see gold uses paper coupons for currency while Bitcoin uses Lightning Network as currency. If we compare Paper debt notes to Lightning vs comparing Lightning to some shitcoin with no solid footing it’s clear Lightning is vastly superior to Debt Notes in just 8 years existence.

Still challenges for Lightning especially in the channel opening and liquidity management realms. But these seem to be solvable or at least manageable vs the ability to fix paper to an set amount OZ of gold.