Subnostr

What’s your thoughts on #Bitcoin L2’s?

Love them, and view them as incredibly valuable tools.

From the perspective of utxo management, they're great as they offer us non-exchange mediums where we can build small stacks of sats until they reach a responsible size for a utxo.

They also allow for cheaper and faster transfer of value, which is made visibly useful in use-cases such as zapping on nostr, or streaming sats on podcasting 2.0 apps.

The average Bitcoiners workflow would never be complete without redundant and secure L1 solutions, but L2s add further capability and reach to the Bitcoin ecosystem, and allow new entrants and users in developing countries easier and more cost effective methods of starting out in Bitcoin.

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Discussion

BTCrevolutionary 1y ago

Appreciate the thoughtful response. Most Bitcoiners are reflexively against any of them. I believe they are worth exploring considering the fact the L1 Bitcoin can’t scale to the whole world in a self custody manner. I feel like this fact is swept under the rug half the time.

pup 1y ago

Interesting. We must operate in different circles as I have seen little hostility towards L2s as a general concept.

Of course there are tradeoffs, but in the end every tool has an optimal usecase and tradeoffs of its own.

Obviously, base Bitcoin is not yet suited to completely replace all other payment networks (and likely will never be), but it does function as the most secure and resilient base for value transfer that we have ever known.

L2s simply expand on this base to provide new and novel value transfer solutions in areas where L1 is cost prohibitive.