10 sats \ 0 replies \ @TheBTCManual 9 May 2023 \ on: Network congestion will turn out to be good for bitcoin adoption bitcoin
LN doesn't really solve it since you still need to get a first transaction in to access the network, its really just people purchasing already added liquidity or liquidity coming from bigger nodes.
Most people who know fees are high are either using custodial services or custodial wallets which isn't ideal, while clueless people are finding out fees are high the hard way
I do think that this high fees are impacting onramps like exchanges I see Binance, holdhodl and Bisq said they would be getting LN and more will follow I am sure of it. Liquidity will flow to where it bags a good premium and we hope that people will follow the incentives to provide cheaper onramps be that exchanges or P2P trades
For me its interesting to see how the market reacts, I can only speak for myself now when I buy P2P I purchase a stablecoin and swap it into LN or Liquid instead which isnt what I used to do before, but its way cheaper compared to going on-chain