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0 sats \ 0 replies \ @justin_shocknet 13 Feb \ parent \ on: Channel Factories fueled by Cashu bitcoin
The entire document is based on trust assumptions, because it naively / ignorantly / dishonestly presupposes that Bitcoin's scaling limitations are a function of its throughput.
This is nonsense used by scammers to fundraise trusted fake L2's and for NGO's to astroturf hostile changes to Bitcoin.
Level set:
- You cannot use Bitcoin in a trustless way without transacting on the base chain unilaterally.
- Doing so with any level of sustainability requires you have at least 5, preferably 6, digits worth of sats.
- The number of individuals/organizations who will posess 5+ digit sats are far below any transactional throughput limitations.
Scams like Ark claim to scale Bitcoin transactions to <5 digit dust collectors, but that's only achieved through trust, since the same dust collectors the product would cater too cannot afford to use the Bitcoin chain to arbitrate their claims.