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the chain is for institutions
There's literally not enough Bitcoin for mass sovereign usage
CTV is retarded, all it does is delegation (centralization)
Are you not advocating for centralization? For non-sovereign usage?
I'm aware of the shitcoiner things people will do with CTV, I just think its worth addressing those attacks socially because the actual benefit is so good.
This line:
which allows the deferral of costs at best.
Is the point that I was getting at. deferring high tide (big amount of people making transactions at once) into low tide (a time like now)
Ack on the space heater mining tho. I just find entertaining these posts worthwhile because you gotta have alternate plans for when the ideal doesn't work out.
Are you not advocating for centralization? For non-sovereign usage?
I'm acknowledging reality. A central bank is centralized, a decentralized network of institutions is not. It's sovereign as there's no gatekeepers to becoming an institution. Lightning nodes are institutions and this will become more self-evident over time.
because the actual benefit is so good.
That's the point, there is no benefit, it's ALL bullshit.
deferring high tide (big amount of people making transactions at once) into low tide (a time like now)
It does neither since it doesn't pull forward transactions, they delay them until crisis and the chain is needed for adjudication. The fud around Lightning LSP exit storms is infinitely worse with covenant coordinators.
the ideal doesn't work out
The ideal for most is some fantasy where the majority of the planet, that doesn't have any money, will magically start using Bitcoin day-to-day.
That's never going to work out.
Institutions and the golden billion (really more like golden 200M) will use the chain as they use the financial system today, for ACH's and Wires. This is good since the ideal isn't working out, and can't work out, because of the supply constraint.
Are you not advocating for centralization? For non-sovereign usage?
I'm not sure what he's talking about either lol
CTV is retarded, all it does is delegation (centralization) which allows the deferral of costs at best. Proponents are just re-branding centralization and trust with scam fake L2 wallets and DeFi, shitcoiner mindset.
Channel ops (or transaction throughput generally) is not the scaling bottleneck, divisibility is. There's literally not enough Bitcoin for mass sovereign usage, given it only goes to 8 decimal places, and chain security costs a minimum of 4 decimals, realistically 5-6 if its not to be a substantial portion of ones assets.
Security budget stuff is nonsense, industrial mining is an arbitrage on a temporary subsidy and stranded energy. It must continue evolve into to waste energy or heat as a by-product, like space heaters, to re-decentralize.
If the network is valuable enough to users, even if block rewards are diminimis, there's an incentive to mine. Not that it will remain diminimis, the intended users aren't here yet, the chain is for institutions, akin to Wire/ACH: https://stacker.news/items/1435533/r/justin_shocknet?commentId=1437045
Tail emissions won't happen, just as an increase in divisibility won't happen, both are supply increases that would capitulate to malleability thereby making it worthless.