Yea, and that's okay.  As long as the system is pegged to a hard-money like Bitcoin.

Bitcoin is perfect for international settlement, as it is today without a L2.  But within countries and cities, L2's will inevitably be used.  

I really like the concepts behind Fedemint.  I think of it as a Layer 3 because it does utilize Lightning to send/recieve outside of the federation.  It's perfect for smaller communities.

fiatbad

Good point. What's needed for Bitcoin to be ready for 300M country to fully adopt? From technology perspective, ie assuming the country/people want to do it.

phaedrus

bitcoin

Milei backs away from dollarisation as central bank pick rejects role

elvismercury

> Gold's inabilities required humans to create a layer 2 on top of it (i.e.  paper IOU's.... ie. dollars).  But if gold had the properties that Bitcoin has, humans never would have needed to create paper money at all.  

Bitcoin today cannot scale to the needs of everyone that currently uses dollars. You can bet if a country the size of the US switched to bitcoin, it would be in a paper money type of form (or cbdc backed by bitcoin)