Seeing what is happening with BTC, it's obvious what's going to happen in the future of crypto (MMW)

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From the shift in narrative of what Bitcoin really was intended to be, to intentionally keeping the blockchain expensive to suit this narrative, it has made me come up with a few "predictions" about what is going to happen in the future of Bitcoin and Bitcoin Core. Seeing as this narrative needs to be maintained, here's what I personally think will happen in the near future of BTC:

  1. The fees will start to get expensive, as expected (this is a given if a bull-run happens, or naturally as more users join the network). As a response to this, not only will r/Bitcoin promote the Lightning Network, Cashapp (owned by Jack Dorsey) will completely cover transfer fees at a loss, so that this looks like a non-issue from the outside.

  2. After the Lightning Network gets promoted, there will be a significant number of routing issues as a larger user base tries to use it. All discussion about the high on-chain fees and routing issues will be completely censored from r/Bitcoin so that the public opinion on Bitcoin can be manipulated and maintained.

  3. Eventually people will accept the shortcomings of the Lightning Network as a "small price to pay" for the most secure currency, and this narrative will be maintained on r/Bitcoin, with the premise that "having a few routing issues with transactions is a small price to pay for the most secure network, and the future of money".

  4. As a workaround for these routing issues, eventually Lightning Hubs will form. Cashapp, LNBig.com (which is also already centralizing the network), Blockstream, and Lightning Labs will be the main nodes to go to for liquidity. Obviously, nobody is going to provide great liquidity for free, so this will lead to higher fees because it is a great way to profit. This business model will lead to fees based on percentage (instead of being flat), as the argument behind it will be the greater the funds, the greater the risk.

  5. Effectively because of this, Bitcoin will just become PayPal 2.0. It will still be on CNBC, and the price will be high, but that's all people are going to focus on, price. The market will continue to stagnate sideways continuously, and CNBC will treat it like a stock. People can use Bitcoin, but it will require KYC, and instead of being cheap, it will be the new bank where instead of paying bank maintenance fees, people will pay channel maintenance fees for using Lightning Hubs.

After all this, I also expect that Bitcoin will be accepted as a payment option just like Visa and Mastercard because KYC is still required so the government, and regulators won't be afraid of it. It will have fees just like any other payment processor, but the demand for it on deep web markets will diminish for obvious reasons. Monero will be in demand for those purposes, and for obvious reasons. I suspect that the price will perpetually (and intentionally) be kept sideways.

submitted by /u/1MightBeAPenguin
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source https://www.reddit.com/r/btc/comments/hamdmk/seeing_what_is_happening_with_btc_its_obvious/

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