There are ~8B people in the world today. These people need better money. Lightning is the solution, right?

On a good day, Bitcoin chain can process 10 transactions every second. Every one of those 8Billion people is going to need at least one lightning channel. That means 8 Billion channel creation transactions need to happen to onboard the global population. At 10 TPS, it will take Bitcoin chain over 25 years to process 8 Billion transactions. Thats just the people today. That doesn't account for the new users that will be born in the next 25 years 🙈. That's if Bitcoin doesn't process any other transactions other than lightning channel openings... much less channel closing or other normal BTC activity.

Tl;dr: it would take 25+ years to get everyone a lightning wallet, if Bitcoin paused and only processed new lightning wallets for the next 25 years.

Doesn't this mean Lightning won't work as global money? What am I missing? Do we just give up and let people use custodial Bitcoin banks instead of owning their wallet keys? I have so many questions.

#plebchain #grownostr