This thread needs more air in the public arena.
There is no chance of scaling self-sovereign BTC usage to a billion people with current tech.
I don't think even channel factories could do it.
On-chain fees are going to be stupidly high when a double digit percentage of the world's economy is bidding for block space. Only institutions will be able to afford to take the risk of opening Lightning channels that could be shut down by someone else.
The banks could probably run Lightning nodes and use e-cash protocols to scale extremely private but custodial BTC to the whole world, but would they play that nice?
Even if they do, this might be better than the current system, but this is not the vision.
FinnStin
npub1ak…aq945
2023-03-27 01:44:04
in reply to nevent1q…m6p4
Author Public Key
npub1ak7khwe5x9xu0wqn506zc0d87677ztrejgqxlyu35c822d0h4gusvaq945Seen on
wss://relay.nostr.bandPublished at
2023-03-27 01:44:04Event JSON
{
"id": "cfc4363c251676a4f0badc07886420601d5b2e1fc7c0ef879fb446ff998a35a1",
"pubkey": "edbd6bbb34314dc7b813a3f42c3da7f6bde12c7992006f9391a60ea535f7aa39",
"created_at": 1679881444,
"kind": 1,
"tags": [
[
"e",
"d398fc28fcdeca52e90b86b2b57d03b39f66f8dda7f6123ad0fe9c487c57d815"
],
[
"e",
"acf63d4d3bc627e740ab15642a339f8b8b69662091f989608b9bcfa8584226f4"
],
[
"e",
"8037c0e58524ef2e80dc305cf8ae7e4f72df6ef89016bd7b73c2084f285ed419"
],
[
"p",
"58ead82fa15b550094f7f5fe4804e0fe75b779dbef2e9b20511eccd69e6d08f9"
],
[
"p",
"9bd70e0f3030c654608e5b9196118a776f260896384f7db9e8591d907dfbbd71"
]
],
"content": "This thread needs more air in the public arena.\n\nThere is no chance of scaling self-sovereign BTC usage to a billion people with current tech.\n\nI don't think even channel factories could do it.\n\nOn-chain fees are going to be stupidly high when a double digit percentage of the world's economy is bidding for block space. Only institutions will be able to afford to take the risk of opening Lightning channels that could be shut down by someone else.\n\nThe banks could probably run Lightning nodes and use e-cash protocols to scale extremely private but custodial BTC to the whole world, but would they play that nice?\n\nEven if they do, this might be better than the current system, but this is not the vision.",
"sig": "62212bf69e870986c6eda905001b2b537b3ca75e04dd62495cde03c77a403c0a9e5bc99a0afb937d1839617694011d383d4e85bd7bdc3791e8b9ae77e528a277"
}