> Bitcoin bootstraps as a "P2P Electronic Cash System" collectible interesting to cypherpunks
> Fiat onramps built, decentralization increases, network governance proven
> Value of monetary policy recognized, hodler investment thesis spreads, base layer transitions to legitimate store of value
> Second layer developed to scale "P2P Electronic Cash" to billions
> Base layer replaces central banking
> Lightning Network replaces payment systems
> Bitcoin becomes global unit of account
@citizenbitcoin @cypherpunk A shame that Lightning Network won't work without massive centralized hubs that could exert censorship. https://medium.com/@jonaldfyookball/continued-discussion-on-why-lightning-network-cannot-scale-883c17b2ef5
Also the artificially crippled scalability at the BTC layer will also limit how many people can onboard into LN, as opening and closing LN channels need BTC transactions.
That article was a bunch of bunk that was debunked quickly for its bad math and then again by reality.
@citizenbitcoin You're describing the suffix of "I have a dream"