Beerborn on Nostr: As proposed by some people, Bitcoin's base layer doesn't compete with a ...
As proposed by some people, Bitcoin's base layer doesn't compete with a Visa/MasterCard, but with Fedwire and similar. In that regard, it already surpassed Fedwire's volume last year.
Competition with Visa/MasterCard should be done by upper layers like Lightning Network.
Trying to make the settlement layer perform the tasks of a transactions layer is a mistake, regardless of the tittle of the White Paper.
No doubt Satoshi was a genius, but that doesn't mean he was infallible and able to predict all ramifications of his creation. Rarely in history the person who invents or discovers something of this magnitude can foresee how it will evolve later on.
Competition with Visa/MasterCard should be done by upper layers like Lightning Network.
Trying to make the settlement layer perform the tasks of a transactions layer is a mistake, regardless of the tittle of the White Paper.
No doubt Satoshi was a genius, but that doesn't mean he was infallible and able to predict all ramifications of his creation. Rarely in history the person who invents or discovers something of this magnitude can foresee how it will evolve later on.