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0 sats \ 3 replies \ @theshanergy OP 12 Jan 2022 \ parent \ on: Upvote if you believe Bitcoin should scale on-chain in addition to second layer solutions bitcoin
During the last fee spike I paid fees that amounted to more than the cost of a full node, this is not hypothetical. If Lightning is successful and Bitcoin scales to use as a global unit of account and means of exchange, the Lightning settlements alone will be more than the base layer can handle. As it stands currently Bitcoin is not able to cope with global use as money. What is the solution to this problem, if not additional on-chain capacity?
I'm not an expert here, but the solution I'm most familiar with are Channel Factories.
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Do you think a time will come when regular users are forced to store their value in second layer contracts and the base layer is reserved only for channel factory settlement and large commercial players. ie. banks, governments?
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I don't know, but it makes sense that on-chain txs would be relatively high in economic value.
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