Truthfully, I did not read the full post yet, but you should research Lightning before commenting on Bitcoin transaction volumes. Much as the internet (and financial system) has layers, Bitcoin also has layers. Lightning is a Bitcoin "Layer 2" that has a theoretical unlimited transaction volume. Currently it is probably in the millions of transactions per second right now. Regrettfully it is the only "true" L2 right now, where "true" means using the native token. There are other L2s that use their own token and various sidechains. Ark protocol is a promising new idea being developed to be a true L2 using virtual UTXOs. For right now we have Lightning and it works very well but with some serious UX issues if you want to go self-custodial. As always... there's always tradeoffs.
Additionally, the argument that Bitcoin is not energy-backed because it's not a fixed amount of energy per bitcoin, falls flat. Yes, it is true that is is not fixed and there are very very good reasons for that. You don't want it fixed. Energy production is variable and you don't want the blockchain to get stuck in a bad state or gamed into a bad state. Regardless, if you look at a chart of Terahash / second (hashrate) it is EXPLODING up and to the right. Bitcoin uses a metric fuck ton of energy and that is a good thing because as you say we want to incentivize energy production for our civilization to progress.
I'm not sure Quai is but it is highly likely to supplant Bitcoin as the dominant cryptocurrency. Network effects are extremely important when it comes to money. I would argue that Bitcoin has already achieved escape velocity and everything that is being done on other chains will eventually come to Bitcoin if it is valuable enough / worth it to do so.
Anyways, I like your work and agree with your priorities to advance civilization. But, I think you need to go deeper on Bitcoin.
Truthfully, I did not read the full post yet, but you should research Lightning before commenting on Bitcoin transaction volumes. Much as the internet (and financial system) has layers, Bitcoin also has layers. Lightning is a Bitcoin "Layer 2" that has a theoretical unlimited transaction volume. Currently it is probably in the millions of transactions per second right now. Regrettfully it is the only "true" L2 right now, where "true" means using the native token. There are other L2s that use their own token and various sidechains. Ark protocol is a promising new idea being developed to be a true L2 using virtual UTXOs. For right now we have Lightning and it works very well but with some serious UX issues if you want to go self-custodial. As always... there's always tradeoffs.
Additionally, the argument that Bitcoin is not energy-backed because it's not a fixed amount of energy per bitcoin, falls flat. Yes, it is true that is is not fixed and there are very very good reasons for that. You don't want it fixed. Energy production is variable and you don't want the blockchain to get stuck in a bad state or gamed into a bad state. Regardless, if you look at a chart of Terahash / second (hashrate) it is EXPLODING up and to the right. Bitcoin uses a metric fuck ton of energy and that is a good thing because as you say we want to incentivize energy production for our civilization to progress.
I'm not sure Quai is but it is highly likely to supplant Bitcoin as the dominant cryptocurrency. Network effects are extremely important when it comes to money. I would argue that Bitcoin has already achieved escape velocity and everything that is being done on other chains will eventually come to Bitcoin if it is valuable enough / worth it to do so.
Anyways, I like your work and agree with your priorities to advance civilization. But, I think you need to go deeper on Bitcoin.