pull down to refresh
1195 sats \ 1 reply \ @justin_shocknet 17h \ on: Should we worry about scaling Bitcoin now? AskSN
--Thomas Sowell on Bitcoin Scaling and Fake L2's
The only scaling limitation of Bitcoin is its finite supply and distribution, therefore, it cannot be scaled without a supply increase or people with large amounts of Bitcoin giving large amounts of it away. These things are not going to happen, so when someone tells you there are scaling paths they are scammers and liars, or retarded.
Lightning is just re-usable chain transactions, so your complaint with Lightning is that people cannot afford even 1 transaction.
This is inherent to all fake layer 2's, the difference is they knock lightning and smuggle trust to scam you.
There's nothing that can be done about this. A transaction requires a minimum amount of sats even at a near 0 fee rate (which we're basically at now).
This means the upper bound on scale is how many sats available divided by the number of people that desire them, and sats are very rare.
Now you're getting it, if you cannot afford to make a transaction yourself, you must trust someone who can make it for you.
The only way to be self-custodial is to be able to afford to be self-custodial. This fact cannot be cheated.
Realistically this will take about 20k sats minimum, but in all economic practicality it's more like 200k+
ShockWallet with Lightning.Pub for example will use a trusted "credit" balance to then automatically buy a channel from the LSP market once it is economically viable to do so. Since it is an account system that solves node sharing over Nostr, your entire household and every app/device can use a single node (channel) for economic sustainability.