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satoshi jr 3 months ago
1 if you're going to argue its just how people are then why would the current system be broken at all. Sov real estate and gold, moe dollar. 2 layer 2 are not inflationary. Lightning does not create more bitcoin. People can choose to create paper on top of any system. 3 its not the hard cap that incentivises higher layers its block size, latency and risk. In bitcoin you can trade security for speed by using lightning but not risk rehypothication Ecash has more custody risk but adds privacy. There will also be debt built on top eventually. The point is that it can always fall back to layer 1 which garuntees security and hard cap. Unless you believe .7 monero in 2min blocks is the perfect amount humans will ever need forever for all use cases, you will need a layer 2 too

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we aren't talking about technical reasons that drive the creation of a L2, we're talking about macroeconomic conditions that do. LN solves some of the technical problems but obv doesn't address the macroeconomic ones, if anything it makes them worse. because now the network is divided up and there's friction moving between on chain and LN. so a hard capped underlying layer means there WILL be a liquid secondary layer. All other ways of transacting are not going to just magically disappear. people will want Bitcoin, but once they get it they don't want to spend it. they want to spend something else. and it's obvious, we already see it happening. after all, this is a primary reason the gold standard was abandoned. I don't know if 0.6 units every 2 minutes is the sweet spot or not. but it's definitely better than 0 and better than an increase as % of circulating supply. image
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satoshi jr 3 months ago
If your argument that the roughly 3% inflation gold necessitated a second layer because it was too scarce means both bitcoin and monero needs a layer 2 I think you're wrong in every part of it. You seem to be pretty indiscriminate in your terminology so lets clarity what you mean When you say the friction between lightning and base and it exaserbates macro economic issues what specifically do you mean? Also what is a liquid layer. What is the liquidity you're referring to?