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Can somebody give me a plausible explanation to how bitcoin with 7 TPS on base chain could satify 8 billion people’s need for transactions WITHOUT TRUSTED third parties?

7 transactions per second means 220 million transactions maximum per year. With 8 billion people to transact this means that you could do 1 transaction every 36 years.

Lightning? Well that won’t do it. Arc? I have no idea.

So the Bitcoin maximalists are waving away this question and I suspect that this is because they don’t have a clue how to answer it either. ”Big block retards” ”Shit coins” ”Sovereign money” ”Bitcoin is Truth, don’t you UNDERSTAND?!?”

No I don’t understand how bitcoin could become a medium of exchange WITHOUT TRUSTED THIRD PARTIES.

Bitcoin is the best Store Of Value, but it certainly is not a perfect one, and it is a LOUSY Medium of Exchange.

Prove me wrong. (Without the hand wavy gestures and knee jerking, please)

Alex 4mo ago 💬 1

Layered money

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Hans Karlsborn 4mo ago 💬 1

Layered without the need for Trusted Third Parties? (Was my question)

Alex 4mo ago

Sorry, missed that cucial point! 🤣

Don't think so currently, but there could be some models out there that I'm unaware of. It's all pretty abstract as it is though.

Free market, game theory and decentralised vibes win I guess - doesn't pay in the long run to be dishonest. Plus we have protocols with interoperability on our side for building ...

Layered Bitcoin makes the cost/friction of entering this global market pretty cheap, compared to during the gold standard era.

Build the future you want to see, but I'm not conviced anything else will take off at this stage in the game: Bitcoin or bust!

✌️