JackTheMimic's avatar
JackTheMimic 1 year ago
This is simply a fundemental misunderstanding of money. "Cash" is currency. Currency does not have final settlement. Currency is a coupon backed by money. Bitcoin is money not a currency. Lightning is a currency. Money scales in Layers, layer 1 is the asset, layer 2 is a coupon backed by layer 1, layer 3 is credit backed by layer 2. Bitcoin being digital gold is not going to price anyone out. It simply sets the ruler by which value is measured. Having a currency that can't keep up with market velocity LITERALLY means the currency has failed. And if @npub1sg6p...f63m thinks approximately 5000 transactions max per 10 minutes can make the world run he is either ignorant or naïve. Please read some books on Austrian schools of thoughts on economics. Particularly surrounding sound money.

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JackTheMimic's avatar
JackTheMimic 1 year ago
It just isn't the same, that's kind of my point. With gold you HAD to have a warehouse to issue currency. If you can run a BTC node, you can run a Lightning Node. A federal model (local-regional-national-global) of lightning nodes makes "state control" irrelevant. I admire the will, but it is better applied creating lightning channels to facilitate commerce that to try to somehow shove liquidity and velocity onto Layer 1.