Kentoshi on Nostr: There are tons of resources available on this - you should read up. In short, you ...
There are tons of resources available on this - you should read up. In short, you can’t have thousands of main chain transactions per second and be decentralized. And if bitcoin isn’t decentralized its pointless. So the only way bitcoin will succeed in being usable for billions of people daily is to scale on other layers. This has been known for a long time now. So while it is unfortunate that high fees will prevent some people from using the network here in the short term it is an inevitable pain point to hit on the path to incentivizing more development on non main chain layers.
Published at
2023-05-09 02:45:59Event JSON
{
"id": "8660543b183d108a4e19065d89f485b1f85169006a9f1e9954417370b7ff5768",
"pubkey": "37b219520530ac1b46f0bcc7b17bc7bcc61c27ea85dc56f999937a3ea1eeb57b",
"created_at": 1683600359,
"kind": 1,
"tags": [
[
"e",
"6ac8e0d748a5941af73adb7624215e00978532dc56ebc460e681216c9de94528"
],
[
"e",
"6f4cb57e6846218f83e23e2bda03f67eeec201c96fea0ac2777e94f7a13c5793"
],
[
"p",
"04c915daefee38317fa734444acee390a8269fe5810b2241e5e6dd343dfbecc9"
],
[
"p",
"7560e065bdfe91872a336b4b15dacd2445257f429364c10efc38e6e7d8ffc1ff"
]
],
"content": "There are tons of resources available on this - you should read up. In short, you can’t have thousands of main chain transactions per second and be decentralized. And if bitcoin isn’t decentralized its pointless. So the only way bitcoin will succeed in being usable for billions of people daily is to scale on other layers. This has been known for a long time now. So while it is unfortunate that high fees will prevent some people from using the network here in the short term it is an inevitable pain point to hit on the path to incentivizing more development on non main chain layers.",
"sig": "e6f1485132cf258833e38c15b3fdbee0364d3b40423a3d3685088995b9ad3a25f58eb4745433e4544c810fb26628353af44f155340e90c00efc20fce4226f90d"
}