Can someone on nostr please explain like I'm 5 (in a friendly way) what I am missing here?
When I read this article, I had one thought. “Bitcoin is a currency… for now.” I don’t think it’s controversial to acknowledge that the protocol in its current form does not scale to the masses. So, if adoption increases like we hope, fees will increase to a point where it doesn’t make economic sense to transact on the base layer. As layers get built on top of the base chain, does that not just make bitcoin a settlement network (aka store of value)?
While lightning or other layers can be truly P2P, as fees rise would it not make it harder for the average person to open a lightning channel further centralizing the network? And I would imagine most people using layer 2, 3, etc. wouldn't have their own channel anyway.
I know this sounds like I’m a bcasher or some Saylor simp but I promise I'm not. I’m just a dumb pleb who’s trying to wrap my brain around this. I truly want bitcoin to succeed but I also just want to be realistic about its future.
https://graduallythensuddenly.xyz/bitcoin-is-money-currency/
#asknostr
tylerkosh / Tyler Kosh
npub1rz…vxtvs
2025-03-05 22:49:18
Author Public Key
npub1rz0vf66gzpsj5mdy7xdswqhlhfltjvdejlmk4dhxye36qmcuej6swvxtvsPublished at
2025-03-05 22:49:18Event JSON
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"content": "Can someone on nostr please explain like I'm 5 (in a friendly way) what I am missing here? \n\nWhen I read this article, I had one thought. “Bitcoin is a currency… for now.” I don’t think it’s controversial to acknowledge that the protocol in its current form does not scale to the masses. So, if adoption increases like we hope, fees will increase to a point where it doesn’t make economic sense to transact on the base layer. As layers get built on top of the base chain, does that not just make bitcoin a settlement network (aka store of value)? \n\nWhile lightning or other layers can be truly P2P, as fees rise would it not make it harder for the average person to open a lightning channel further centralizing the network? And I would imagine most people using layer 2, 3, etc. wouldn't have their own channel anyway. \n\nI know this sounds like I’m a bcasher or some Saylor simp but I promise I'm not. I’m just a dumb pleb who’s trying to wrap my brain around this. I truly want bitcoin to succeed but I also just want to be realistic about its future.\n\nhttps://graduallythensuddenly.xyz/bitcoin-is-money-currency/\n\n#asknostr",
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