[jpsalm]

Yea that's what I don't understand either.

Is the plan to secure a fully-mined chain just rampant value-inflation in a way that is completely detached from supply and demand? Today my 1e-1000 bitcoin is worth 10 carrots, tomorrow it is worth 20 everything else held equal? How does that even work in practice?

Alternatively you need transactions to pay entirely for the security of the chain. This doesn't seem feasible when chain security costs rise everyday as the cost of energy deceases. And if transaction fees increase to compensate and people transact less the whole thing blows up.

[wmf]

The "official" plan is for low-value transactions to happen on the Lightning Network and high-value (e.g. >$1M) transactions paying high fees to happen on-chain.

[mathiasrw]

Lets assume they solve all the math challenges with the routing: The on-boarding is still a challenge as it demands one initial on-chain transaction.

If 10% of the current facebook users want to get on lightning and we can make 6 transactions per second it will take 17 months before all are on board - and this is assuming no other types of transactions (so any payment made with BTC will delay this)