Quote from: mpoletiek on August 28, 2024, 02:07:17 PM

So when/how does BTC become a global currency?

Are we saying that was never the goal? Are we saying that it was all a part of the plan to only be a store of value and that people will always use something else for daily transactions at scale?

bitcoin already is/was a global currency, however due to the dev politics that is inspiring the DUMB mindset that bitcoin should have less transactions(due to bloat) and more fee's per transaction.(done purely to promote other networks) bitcoin has become out-priced to be useful for some 3rd world countries.. within bitcoin code there is no protocol that uses geo-location information grabbing to prevent people around the world from using it unless they are from X country, however the economic games played by devs to incite the games of fee wars has economically deterred certain countries from desiring bitcoin

Quote from: mindrust on August 28, 2024, 02:15:06 PM

What's the difference between lightning and wrapped bitcoin tokens on eth? They both promise 1btc for your 1 wrapped btc or 1 lightning btc. LN is like a stable coin but it is backed by BTC instead of USDT. WBTC is the same thing. They operate on different networks but that's essentially what they do.

Tbh I'd rather use a well established alt like ltc or doge when btc is slow and expensive. It worked for me till now.

when the onion packs of LN payments get transmitted via the channel routers. the data of value amounts are measures in msats which are pegged to sats at a certain rate. this rate can change..
channels can also say they are locking a funding amount to then create false 'commitments'(IOU's) but then use the same UTXO on another channel thus allowing double spending or not allowing the recipient(inbound balance user) from ever actually getting the amount they are supposedly promised.. so there are many flaws in LN where it can allow alot of fake payments and not guaranteeing settled funds, etc etc

wrapped coins are a whole landscape different again, they are even further not truly attached to the supposed mainnet they peg to
...when using wrapped or inbound balance msats, just remember #not-your-key-not-your-coin. be cautious, be aware, be careful and try to avoid getting stuck with the junk whilst someone else holds the true utxo