Post
Topic
Board Bitcoin Discussion
Re: Fees are high - a problem? Not for everyone!
by
Lucius
on 03/01/2024, 10:22:58 UTC
maybe we should clarify some things so that everyone would not continue to pretend that we live in a world where we should continue to expect that Bitcoin will become a global means of payment that will be used by just about everyone.
it's called L2. Anyone can use bitcoin as a means of payment if they are using L2. Whether that is LN or some future L2 networks.

Of course there is an alternative, but how many people even know what Lightning Network is and how to use it, even on this forum? In addition, in order to use LN you have to open a channel, and to do that you have to pay an on-chain fee, which is again a problem when the fees increase significantly. What will happen if someone comes up with a way to make LN transactions disadvantageous in any way - the new LN?

No reason to think people can't use bitcoin as a means of payment in the future cuz of fees, because nobody is going to be paying mining fees to make payments because that is not what the base chain is for.

Interesting thinking, I don't know what on-chain transactions should be for and why we use them all the time? If by some chance you invented Bitcoin, you would probably have invented LN first, and only then Bitcoin, so today we wouldn't have problems with fees because everyone would use LN - really genius Roll Eyes