IMO, the fundamental solution of #Bitcoin scalability issue is deflation. The fee number should go down(maybe higher than now) and the purchasing power corresponding to that number should go up. Energy becomes cheap, close to free, and all the energy left over is put into mining, a global lottery system. Home mining or local mining should be grown up than state mining. The hashrate is so high that double-spending is impossible, and there are no profitable mining big companies.
For this scenario, we need to destroy the fiat money.
This is what I envision after fix the money and fix the world. In this circumstances, people will use layer 2 payment systems like LN. Hopefully, the amount of fee to open/close a channel has high enough purchasing power and is affordable for salary of ordinary people.
We don't need shit that requires tradeoffs, we need to think about trustless trust layer2 solutions that don't compromise on tradeoffs, with longer time frames.
We need to have a real low time preference, not just talk about it. View quoted note →
