Hynek on Nostr: nostr:note1qsrafmu9qfdmk2efpsp2zynuu2tm0lkfp9qmnu70qw0kmhxx78qsp66awd

quoting note1qsr…6awd

Imagine if everyone could issue their own IOUs in sats. I don’t mean just anyone, but literally everyone. You would accept promises only from well-known and verified peers—and only up to a certain amount. You would compare the risk of losing this money with the cost of bitcoin settlement.
During times of cheap block space, like now, you could settle on-chain more frequently. If you have a stable internet connection on your mobile, you could start opening channels with your peers. Once you have a few channels, the incentive to hold IOUs decreases. And with further optimizations, it diminishes even more.
This could extend the reach of the Lightning Network, connect the missing points, and, over time, help build a truly resilient network. note1jzd…squ5