Cyph3rp9nk on Nostr: Bitcoin and the imperfect world As a Bitcoiner you must accept that the world is ...
Bitcoin and the imperfect world
As a Bitcoiner you must accept that the world is imperfect and that Bitcoin is imperfect, it is the only way to win the war, otherwise you will not even win battles.
Why do I say this? I see a lot of lack of pragmatism in the Bitcoin world and a lot of idealism that is useless.
To make it clear, let's assume the extreme case. Bitcoin right now doesn't have a full scaling solution, that doesn't mean it can't be used by everyone, what it means is that it can't be used by everyone with self-custody. In a world where everyone uses Bitcoin and Lightning is the norm, not everyone would have a Lightning channel because technically it would take decades to open all the necessary channels and the fees would be unbearable for ordinary mortals.
This brings us to an extreme scenario where we mostly use Lightning with escrow.
What have we solved? Well, with respect to the previous scenario where we used custodial and forgeable money, we have moved to a model where we use custodial but unforgeable money.
It seems silly but you would have gotten rid of the currency devaluation.
This is the worst case scenario for the future as things currently stand, as Bitcoiner we have to fight to reach the ideal scenario which is money with self-custody and without currency devaluation, but being aware that perfection does not exist and that we will have to accept trade-offs.
What do we currently have? We are going to order it from smallest to largest and we are not going to include anything that is not yet in production.
Custodial lightning - ecash > Liquid - RSK > Non-custodial lightning > Bitcoin on-chain
So what do I mean? That don't rule out any option, use them all, everything is valid because we don't have any magic solution to scale Bitcoin.
As a Bitcoiner you must accept that the world is imperfect and that Bitcoin is imperfect, it is the only way to win the war, otherwise you will not even win battles.
Why do I say this? I see a lot of lack of pragmatism in the Bitcoin world and a lot of idealism that is useless.
To make it clear, let's assume the extreme case. Bitcoin right now doesn't have a full scaling solution, that doesn't mean it can't be used by everyone, what it means is that it can't be used by everyone with self-custody. In a world where everyone uses Bitcoin and Lightning is the norm, not everyone would have a Lightning channel because technically it would take decades to open all the necessary channels and the fees would be unbearable for ordinary mortals.
This brings us to an extreme scenario where we mostly use Lightning with escrow.
What have we solved? Well, with respect to the previous scenario where we used custodial and forgeable money, we have moved to a model where we use custodial but unforgeable money.
It seems silly but you would have gotten rid of the currency devaluation.
This is the worst case scenario for the future as things currently stand, as Bitcoiner we have to fight to reach the ideal scenario which is money with self-custody and without currency devaluation, but being aware that perfection does not exist and that we will have to accept trade-offs.
What do we currently have? We are going to order it from smallest to largest and we are not going to include anything that is not yet in production.
Custodial lightning - ecash > Liquid - RSK > Non-custodial lightning > Bitcoin on-chain
So what do I mean? That don't rule out any option, use them all, everything is valid because we don't have any magic solution to scale Bitcoin.