Its a hard one. I would like to see some improvements on bitcoin L1, i think its the only way it will survive. But i also see the power of ossification. As Jimmy Song rexently said, people want a store of value more than unit of exchamge. This is the exonomic reality that the market chooses. Swapping btc for monero or ltc or lightning to spend is no big deal.
Login to reply
Replies (2)
the market chooses ethereum and litecoin, and only due to the failure of bitcoin. reclaim the transaction volume, then we'll talk
Who the fuck is going to pay for miners if not people exchanging Bitcoin for other things? If all Bitcoin is locked in multisig bridges, these federations will realise they can settle between each other through an even larger multisig or LN channels and never pay fees on chain.
You expect the current hashrate to persist despite no fees forever
If the hashrate falls, what does Bitcoin offer that Litecoin doesn't? Nothing is the answer.
Everything can ossify, that is not a selling point, not until you have a Script that can emulate anything we might need in the future... FFS that is why Satoshi invented Script instead of hard coding all "approved" spending conditions... The fact that Script got neutered since is an accident and a failure that Bitcoiners started to worship for some retarded reason.