This is where we’re headed, but the lightning network needs to be built out by an order of magnitude. In some future state, we will be able to tap our phone at the chipotle checkout and pay via lightning. This will be integrated through every payment rail, whether online or in person. In this world, sats are simply changing hands. No conversion to dollars or sovereign currencies will ever be needed.
This next press conference by Powell will define his legacy, full stop. Will he have the stomach to push one last time or call the game? Both will have incredible consequences for 8 billion humans. Remarkable we still have a system that believes one human can withstand the burden of seeing into the future without the collective input of the human race.
I would zap you but don’t have the functionality yet :(. That said, truth!
If the majority of US citizens or global citizens could personally custody an asset completely independent of their countries fiat, in theory you could just accelerate the inflation of all fiats globally and reset debt/GDP to say 20ish percent. Debt jubilee repeated as it has been for 4000 years. The trade off for governments is we would officially be on a bitcoin standard. They could remain in power, but with a new monetary constraint not controlled by any government or small groups of people to manipulate.
