[smeej]

I expect on-chain transactions will eventually be extremely high-value, between major players and institutions willing to pay the fees, while the daily transactions will be on sidechains/other layers.

I'm not sure the fees will actually change a whole lot if denominated in BTC. I just expect that when 1 BTC is worth a lot more than it is now in fiat, people won't be paying for their coffee on-chain (assuming inflation doesn't do crazy things to the price of a cup of coffee!).

[Aperocky]

So just like the current financial system where the real transactions are between the fed and the banks while everyone else you me and him are just fiddling with numbers in a mainframe table.

[cowtools]

>people won't be paying for their coffee on-chain (assuming inflation doesn't do crazy things to the price of a cup of coffee!).

Okay, but those LN transactions clearly depend on the security of their multisig channels without subsidizing the miners through the fee market.