Home Altcoins News Tether (USDT) Paolo Ardoino on L2 Bitcoin Micropayment System

Tether (USDT) Paolo Ardoino on L2 Bitcoin Micropayment System

Tether (USDT) Paolo Ardoino on L2 Bitcoin

Paolo Ardoino was seen wishing for L2 Bitcoin Micropayment System in response to what Kim Dotcom expressed:  Try and buy a Soda with Bitcoin. Bitcoin median fee $8.92 and Bitcoin Cash median fee $0.001.

Several users wished that Bitcoin could scale on its own. An opinion pointed to how the embarrassing fallacious assumption that any micropayment should be saved in a long-lasting public ledger, replicated tons of times, all round the world, is alive and kicking.

In response to the L2 wish other users stated, people fail to grasp exponential curves. Linear on-chain scaling has no way to keep up with real world adoption, which is exponentially bigger than current volumes. L1 as settlement layer and L2s as transaction layer can scale up exponentially instead.

For clarity, Paolo pointed to Bitrefill thread on Lightning Network adoption thread, which reads as follows:

People from an astonishing 105 countries have used the Bitcoin Lightning Network this year to help buy mobile top ups, electronics, groceries, clothing, plane tickets, food delivery, video games, and more on Bitrefill.  And our Lightning Network volume this quarter is on track to more than doubling our previous all-time high set during the last quarter.

Bitrefill has heavily invested in a growing number of partner programs and have contributed to the Lightning Network for the simple reason that they believe it will evolve into the most user friendly, secure, scalable, inclusive, and sovereign payment network that the world has ever seen.

However, some of them feel that they still believe it failed. They have to state that 115 countries means nothing as it is about how many people are using it every day? They feel the adoption should have been bigger for such a BIG thing.

Chris Stewart in response to Paolo’s query about the future of Bitcoin stated, “Bitcoin’s future value isn’t just the market cap of gold, it is going to be a neutral settlement asset for derivatives. Discreet Log Contracts enable this. The narrative is starting to shift from “just digital gold” to “DeFi with digital gold”. The 2 aren’t mutually exclusive.”

All these discussions are happening at a point in time when there is a lot of talk happening about getting non-custodial ways to get yield on BTC.  However, the market is still quite new. LN itself is still in the adoption phase and as more people use LN the demand for channels should increase too.

Read more about:
Share on

dan saada

Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

Crypto newsletter

Get the latest Crypto & Blockchain News in your inbox.

By clicking Subscribe, you agree to our Privacy Policy.

Get the latest updates from our Telegram channel.

Telegram Icon Join Now ×