We will see by that time. I think the L1 bandwidth is fine for the purpose of SoV. At the end of the day, tx fees will be what market participants are willing and able to pay.
I see self custody as a spectrum, starting with people withdrawing their sats from exchanges and other centralized and government-controlled platforms. Game theory will provide efficient and secure options for everyday transactions on L2-L3. Bad actors will lose users and fees. Good actors will benefit with more users and better fees.
Not everyone will want or need to use L1 and high base layer fees will drive innovation toward Lightning and sidechains to solve scaling. I define scaling as providing Bitcoin for 8 billion people. In my view that scaling will happen primarily above L1. L1 fees will find their equilibrium in supply and demand considerations of the market participants.
Leo Fernevak
npub1y02…fvpl
2024-06-11 23:51:24
in reply to nevent1q…7yjg
Author Public Key
npub1y02f89rpykzhqmrjjz99uwgyl9gh06sg0vpjmklu62rzxpx8mxps7zfvplPublished at
2024-06-11 23:51:24Event JSON
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"content": "We will see by that time. I think the L1 bandwidth is fine for the purpose of SoV. At the end of the day, tx fees will be what market participants are willing and able to pay.\n\nI see self custody as a spectrum, starting with people withdrawing their sats from exchanges and other centralized and government-controlled platforms. Game theory will provide efficient and secure options for everyday transactions on L2-L3. Bad actors will lose users and fees. Good actors will benefit with more users and better fees.\n\nNot everyone will want or need to use L1 and high base layer fees will drive innovation toward Lightning and sidechains to solve scaling. I define scaling as providing Bitcoin for 8 billion people. In my view that scaling will happen primarily above L1. L1 fees will find their equilibrium in supply and demand considerations of the market participants.",
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