there is also ark with different tradeoffs. unliateral exits, untrusted. don't need to run a node.
Discussion
but yes generally people will have the most freedom when they run the software and control their utxos. if users don't care about maximizing their freedom they can just use cashu or something
220 million transactions per year.. 8 billion people. It doesn’t matter if you control your UTXOs if you can’t transact more than once every 36 years😵💫 (assuming 8 billion people who has some UTXOs)
I have transacted over 200,000 times on my lightning node with my own utxos in the past few years. lightning enables unlimited non-custodial scaling. you just need to learn how to do a few bitcoin transactions every now and then to open channels. software and hardware innovations can make this easier
it might be harder than a bitcoin tx but its still possible for people who want to run their business through their node.
of course onchain will not scale to 8 billion people, this is why we are building layers and why the big blockers are retarded.
in fact, not even lightning scales to 8 billion people if everyone in the world were opening 2 channels per year. I calculated we would need 20mb+ blocks to do this.
but lets be honest, not every single person in the world will be doing this anyway, so yes there will always people who just don't give a shit and they are happy using their custodial bank accounts. for everyone else there's still tons of scaling via lightning possible.
Well I mean if Lightning is supposed to scale then Lightning will take a large proportion of the block space, will it not? Then it will become hard to open channels because you will have to interact with the base chain. You will have to rely on third parties large scale Lightning channels, no?
yeah but you only have to open a channel once and it could last years. the more people using lightning, the less onchain activity in general.
it will all come down to economics. it will be cheaper to transact via lightning so people will do that when fees are high
we actually already saw this during the large fee storms (mid 2020? can't remember exactly when).
people would basically wait for fees to go down to open channels so that they can continue to transact without worrying about spikes.
Have you looked at Zeus Networks’ zBTC, the Solana token that is not a wrapped version(not a paper bitcoin) because you lock your bitcoin and get 1:1 BTC:zBTC which you can unlock as easily get your bicoin back?
I think this will become an alternative way to transact bitcoin using the Solana chain. It is not suited for micro transactions though, but medium and large transactions it is well suited for.
I don't take any non-bitcoin L1 seriously because they are shitcoin scams that aren't decentralized. bitcoin is the only thing worth building on. if you don't have solid foundations you have a house of cards.
Keep telling yourself that. ”Everything is a scam except bitcoin”. 😅
Such absurdity and simplemindedness
Youre such a fucking glowie
When I went against my better judgment and zapped you 48k sats with your preferred "Lightning" shitcoin, for your work on Apple shitware apps I can't even use as a non Apple user, you ended up muting my npub for no apparent reason
Respectfully, it's cause you're a schizo. That's why you're one of the top muted on the protocol. "Digit" obsession makes you seem clinically insane. Take meds!
Ways you're incorrect in this short comment:
1. Gaslighting isn't respectful
2. "Schizo" is a meaningless word, you probably meant "schizophrenic" which I'm not
3. Regardless of whether you meant "schizophrenic" or just a vague insult, that wouldn't justify Will muting every schizophrenic or everyone you call "schizo"
4. Will doesn't mute every schizophrenic or everyone you call "schizo," so aside from not being a justification, it's also not an explanation
5. I'm one of the top muted on the protocol because I tell the truth more than most people are comfortable with, but "schizo" is an unfitting word for that
6. Not sure what you mean by "clinically" but the Digit obsession only makes me seem insane to people who are much less sane than me
7. The vagueness of "take meds" and the context of a social media thread both add heavily to the retardedness of making a psychiatric prescription for someone who doesn't need it
I count 7. Extreme mental health issues there. I'd say "take meds" but you seem retarded enough to not understand the difference between mocking your argument and endorsing it as a valid way to argue.
Sadly you'll probably tell yourself this is impressive, like others (who?) are behind you in a competition to get the most shit wrong possible in the shortest reply.
Bitcoin, as the base monetary asset, must meet a higher standard for security and decentralisation. Other blockchains, many of which are moving to proof-of-stake, can operate with a comparatively lower threshold, since there is more room for optionality at that level.
I know of these projects and I have as you probably know experience with Lightning as I have a wallet here recieving sats. So Lightning and Arc will satisfy 8 billion people and you won’t have to trust a third party? Is that your explanation?
No. Bitcoin will be a superior store of value. Not a superior medium of exchange. That is my prognosis.
Never let your blithering ignorance stops you from your opinions.