Mutiny Brewing on Nostr: I would love to see modelling on fees and the impacts on scaling. It's easy to say we ...

I would love to see modelling on fees and the impacts on scaling. It's easy to say we need to change or that we don't, but no one is building financial models to support their ideas. I think at about $10 lightning breaks down. cashu, fedmint and liquid provide better scaling at higher fees but come with significant compromises. For this to be viable I think everyone needs to be able to open a couple of lightning channels to a number of mints. This allows minimal custodial risk and allows decentralisation. If fees reach $100 per transaction, this is prohibitive, even for high value channels. Fees on the network would be high, driving centralisation.

With the current tech, we have about 10x growth potential with current technology. Now is the time to think through how we can maintain a permissionless network, so when it comes time we have a good consensus.

I'm sceptical of paid influencers, because the incentives of bankers who pay them, Microstrategy, Swan, Coinbase etc are for a centralised custody model where they can extract fees. The higher on chain fees, the higher the fees they can extract. This is a terrible outcome for Bitcoin because this money is not going to miners to secure the network, but to bankers to capture it.