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32 sats \ 2 replies \ @nullcount 18 Jun \ parent \ on: Solving the Bitcoin Adoption Paradox bitcoin
People used to send micropayments onchain before it was required to pay a fee to miners. Even then, fees were so low that microtxns were possible for years.
I'm expecting LN and eCash fees to rise with adoption as well.
I think the "money for autonomous agents" is the most compelling attribute that may spark a new wave of adoption. Maybe as a side effect of companies optimizing their product and billing so agents to use it, we will also get an interface to pay for these services with BTC and increased privacy noKYC.
But in the meantime, gift cards priced in fiat will suffice.
I'm expecting LN and eCash fees to rise with adoption as well.
LN fees will rise as the mempool gets saturated with LN channel opens, but I expect other Layer 2s and new Layer 3s will emerge further reducing on-chain pressure and enabling increased adoption at global scale.
But in the meantime, gift cards priced in fiat will suffice.
This is a bit of a kluge, like the email to fax solution. Using a superior tech bolted onto an inferior one. Not the killer app that Bitcoin needs for mass adoption.
I am a bit obsessed with thinking about entrepreneurship that @car hinted at, that leverages Bitcoin for use cases that simply cannot be solved with the current financial rails. As a SoV, Bitcoin is wildy successful. As electronic cash, it's a solution still looking for a problem. Substituting Bitcoin gift cards for fiat or using a Bitcoin Visa card won't get us to the promised land.