In the future, when Bitcoin layer 1 fees become too expensive for the average person and are only financially justifiable for large companies and banks, am I correct in my understanding that newcomers will still be able to open a wallet and receive and transfer funds directly on the Lightning Network (layer 2) without ever needing to settle or fund a layer 1 wallet?
That’s how it scales without necessarily involving counterparty risk, right?
#Bitcoin #LightningNetwork #BTC #Scaling #BitcoinScaling #Layer2
penglunds
npub1fj…v52r7
2024-08-20 15:36:34
Author Public Key
npub1fjgr2kqrrp3s2cv5ytkfzd3redfr95fntge5jhhlph4z22uc09vsrv52r7Published at
2024-08-20 15:36:34Event JSON
{
"id": "55ff1edbb395e0381e8fb5d6936e250b4e76d9615662623be1431bcdf3f03456",
"pubkey": "4c90355803186305619422ec913623cb5232d1335a33495eff0dea252b987959",
"created_at": 1724160994,
"kind": 1,
"tags": [
[
"t",
"Bitcoin"
],
[
"t",
"LightningNetwork"
],
[
"t",
"BTC"
],
[
"t",
"Scaling"
],
[
"t",
"BitcoinScaling"
],
[
"t",
"Layer2"
]
],
"content": "In the future, when Bitcoin layer 1 fees become too expensive for the average person and are only financially justifiable for large companies and banks, am I correct in my understanding that newcomers will still be able to open a wallet and receive and transfer funds directly on the Lightning Network (layer 2) without ever needing to settle or fund a layer 1 wallet?\n\nThat’s how it scales without necessarily involving counterparty risk, right?\n\n#Bitcoin #LightningNetwork #BTC #Scaling #BitcoinScaling #Layer2",
"sig": "47617405d2a3f5148d51c5e6e7038292126d6f9c3e1849cdb4099bc23d0f102322b841f95fd747f50814b7d7977ea41fb6400cf4c8556056ab8f4d70c70678ab"
}