10.1k sats \ 6 replies \ @justin_shocknet 12 May \ parent \ on: Maxis lost the plot bitcoin
This is an overly simplistic view.
SoV is a pre-requisite to MoE...
I personally came into Bitcoin as an agorist interested in MoE, but without SoV we may as well do that in an SQL database.
The correct framing is Act 1 vs Act 2
realization of scaling woes
There's been no such thing, a small cohort of shitcoiners and virtue signalers PROJECT scaling woes...REALity is that fees are barely 10% of the newly halved subsidy.
Bitcoin is money. It doesn't solve for people not having money.
It does however enable permissionless earning of money, but the middle bell curve can't process that's a task now for the shell and not the core.
write
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31 sats \ 5 replies \ @freetx 12 May
small cohort of shitcoiners and virtue signalers PROJECT scaling woes
what you say has an element of truth, but that doesn't change the math.
There is no way to onboard the world with ~200 million transactions per year.
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1000 sats \ 4 replies \ @justin_shocknet 12 May
Depends on your definition of onboarding the world
Your math is also wrong, we can open a billion lightning channels per year with existing batching
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10 sats \ 3 replies \ @freetx 12 May
1B txn per year
So 500M channel opens + 500M channel closes and no other onchain activity....still doesn't seem like enough?
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0 sats \ 2 replies \ @justin_shocknet 12 May
Enough for what?
If you buy into the 8BN framing it's not a serious conversation, it becomes a divisibility issue long before it's ever a blockspace bottleneck. Dust will always be dust.
Just as there's not 8BN houses, 8BN refrigerators, or 8BN cars... there's not 8BN custodians. Families share things... nodes will be among those things: Lightning.Pub
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10 sats \ 1 reply \ @freetx 12 May
Enough for what?
To act as a global MoE
What do you think the likely maximum number of active users BTC can support now (with batching and LN)?
100M individual active users?
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0 sats \ 0 replies \ @justin_shocknet 12 May
Global MoE doesn't have a hard number, so you're speculating
How is a user defined? A lightning channel? Could batch a few billion over 5~ year hyper growth
But that assumes there's even that many people with assets
Reality is there's no technical ceiling in sight, it's a socio-economic ceiling of the golden billion who largely own equity and not money
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