goatmeal on Nostr: if miner fees are not high in the future, bitcoin will have no security budget. why ...
if miner fees are not high in the future, bitcoin will have no security budget. why didn't you already know that?
the only players who will be able to afford to open lightning channels or do anything else onchain will be a small number of banks. almost nobody will be able to have self-custody even if they want it. and you're going to get KYC'd and surveilled out the wazoo just to be able to access the economy. they can even start to do fractional reserve banking on it. there's nothing being done about this and the only people even talking about it are already using alts.
you can't seriously sit there and act like the problem will solve itself when there's not a single bitcoin maxi alive who even notices what's going on.
the only players who will be able to afford to open lightning channels or do anything else onchain will be a small number of banks. almost nobody will be able to have self-custody even if they want it. and you're going to get KYC'd and surveilled out the wazoo just to be able to access the economy. they can even start to do fractional reserve banking on it. there's nothing being done about this and the only people even talking about it are already using alts.
you can't seriously sit there and act like the problem will solve itself when there's not a single bitcoin maxi alive who even notices what's going on.