After #hyperbitcoinization most likely 95% of the population will ony have to open a #lightning channel once in their live time.
Discussion
Why?
that implies to me that we’re gonna be relying on ‘supernodes’ as liquidity providers/reliable partners, and having a single counterparty makes it so much easier for big hubs to exploit ppl with random fee changes if their only retaliation is closing the channel.
You don't need to open/close channels. You open a big channel once when you get your first paycheck. Now, the liquidity is on your side, then you start paying for rent, food, etc. aka pushing out the liquidity. Then you get your salary again and the liquidity comes back. So it just goes back and forth all the time without the need to close/open your channel for rebalancing.
Interesting - so then would we reach a point where people wouldn’t ever do on chain except for opening that channel?
As soon as you get paid in #Bitcoin and can pay for all you need with #Bitcoin.
I meant on-chain vs lightning - like if bitcoin is world reserve currency then would most people only ever use lightning and on-chain is stuff for creating / settling channels and really big payments, because on-chain trans. per sec is limited?
Let’s throw some numbers around. Let’s say we hit 1 million transactions per second. That’s 600 million transactions per 10 minutes. If a block holds 6k transactions, then only 0.000166% transactions can be on-chain per block. How high might fees get at this point, in BTC, is what I’m wondering.
People will receive their salary via lightning and also pay for everything via lightning.
Most people spent what they earn and save only a little. So no need for on-chain imo.