Jeff Swann @Jeff Swann - 1y
Checks, debit, cash, & bank wires are like #lightning, #liquid, ecash, & other Bitcoin scaling layers. The layers are good for privacy. There is no reason to use a different monetary token & deal with exchange costs & risks & lack of acceptance.
Bitcoin is always going to show a clear path back to issuance, that's how triple entry accounting works & is one of the key innovations we need to prevent inflation & counterfeiting. Some of the richest people in bitcoin are anonymous cypherpunks who quietly go about their lives. Providing liquidity for more private payment layers helps them as much as it helps others. Privacy is still possible with traceable base layer txns. Moving money through other layers breaks the clear link to ownership onchain.
Why use Monero's future L2 if blocksize is dynamic & can adjust to any demand? There is no exchange risk when swapping between BTC tokens. Liquid to LN swaps happen in the background when you make a txn from a wallet. So if someone doesn't support Liquid they get a LN payment instead. There will be similar bridges to everything else & LN forced closes will mostly be LSP problems, not average consumer level issues.
