Here's how the BTC solution stack PEELS AWAY all features that makes Bitcoin exciting.

The Bitcoin project was created to allow people to transact:

• Cheaply and quickly
• Permissionlessly
• And borderlessly via sound money principles

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Each layer of the BTC solution stack peel away these features 1-by-1 until what's left is a bastard of a project.

1. BTC L1: Removes cheap and fast feature via small blocks & unsafe 0-Conf.
2. BTC L2 (LN): Removes permissionlessness feature. Opening channel requires permission of other party. Liquidity requirements means people will gravitate to BigNodes. BigNodes can therefore censor those not politically aligned.
3. BTC L3 (eg Strike): Removes borderlessness and sound money principle. L3 is a centralized KYC'ed honeypot. You can only transact in regions they allow. Audits of BTC locked up in LN will be up to their discretion. Nothing is stopping them to credit more BTC then they have in their reserve. They're reinventing FIAT.

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And there you have it. The BTC solution via layered and tiered strategy have removed all features that makes Bitcoin Bitcoin.

Fuck Blockstream.