Begemot on Nostr: "Mentally decouple" from the original purpose of bitcoin (think white paper)? I hope ...
"Mentally decouple" from the original purpose of bitcoin (think white paper)?
I hope this is resolved one way or another or the people bitcoin is meant to save will suffer (poor, middle class, developing nations etc...) and much work, that has already been done, could be for nought.
I view this as a poison/sickness in the system. A perversion, so to speak. At current transaction fees (because of ordinals and subsequently BRCs) it's already too expensive for many use cases and even getting btc on and off the LN will be an issue moving forward. A street vendor in Guatemala (for example) is not going to use bitcoin if the cost of the transaction is more than the cost of what they are selling.
Even Satoshi recognized this problem way back when bitDNS tried to incorporate Domain Name services into Bitcoin
"Piling every proof-of-work quorum system in the world into one dataset doesn’t scale” ~ Satoshi Nakamoto, 2010
I hope this is resolved one way or another or the people bitcoin is meant to save will suffer (poor, middle class, developing nations etc...) and much work, that has already been done, could be for nought.
I view this as a poison/sickness in the system. A perversion, so to speak. At current transaction fees (because of ordinals and subsequently BRCs) it's already too expensive for many use cases and even getting btc on and off the LN will be an issue moving forward. A street vendor in Guatemala (for example) is not going to use bitcoin if the cost of the transaction is more than the cost of what they are selling.
Even Satoshi recognized this problem way back when bitDNS tried to incorporate Domain Name services into Bitcoin
"Piling every proof-of-work quorum system in the world into one dataset doesn’t scale” ~ Satoshi Nakamoto, 2010