Seeker Erebus @SeekerErebus - 2mo
Apologies, I meant that the value of a fully self-custodied scalable solution is worth 100k bitcoin, not one to solve at 100k fiat price. It's a rabbit hole of a problem. Ultimately, mainnet as it currently exists cannot serve humanity long term, though BTC can and should. Simple proof: Mars is never closer than 6 light-minutes round trip. No Martian colony will ever be able to mine bitcoin in a viable manner. And that's our backyard. Other stars is a joke. This is why I believe in the transmutation protocol through sidechain. Scale via L2, verify everything. You can't necessarily stop abuse at the transition point, but if you can guarantee it's caught and execute violators, that's not bad. If a sidechain performs an important enough task that being a layer 1 is necessary, then plan and execute a burn of all the custodied BTC after allowing exits. The layer 2 token goes from being backed by BTC to made from BTC. Like smelting Spanish coins to make French coins. No violation of absolute scarcity. Maybe we get better, but if not, seems the best option.
