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Orange🍊Man👤21d ago
money has always been functionally simple. It doesn't need to be a general-purpose data storage medium to work.
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Jameson Lopp21d ago
You can talk about money all you want, but I'm taking about Bitcoin, which always has been and always will be more than just money.
0000 sats
goatmeal21d ago
I think if bitcoin doesn't do everything it will die. it doesn't have to do everything on L1 but I hope that it does everything on good L2s that pay the miners and are not centralized. it needs to be able to attract enormous amounts of fee revenues to replace the block subsidy. I don't think channel maintenance on a constrained L1 will be lucrative enough to support mining forever, unless it's handled by banks, and that would destroy user freedoms.
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