Replies (6)

I think if bitcoin doesn't do everything it will die. it doesn't have to do everything on L1 but I hope that it does everything on good L2s that pay the miners and are not centralized. it needs to be able to attract enormous amounts of fee revenues to replace the block subsidy. I don't think channel maintenance on a constrained L1 will be lucrative enough to support mining forever, unless it's handled by banks, and that would destroy user freedoms.
Like I said, it's an incomplete high level document. Bitcoin whitepaper purists should note that the following things are NOT described in the whitepaper: script multisig block size addresses ASIC mining mining pools 21M coin cap decentralization 8 decimal precision 2016 block difficulty adjustment and much, much more...