Once there becomes enough sellers, selling a particular item though, for Monero directly, they wouldn't need to use USD as the unit of account because they could just compare their item with similar items being offered by other people to know what they should price their item at. In that case, they would have nothing to do with the USD price. Once you get enough of those items being priced in Monero, people will stop looking at the USD price because they will be able to see that an expensive car costs this many Monero while a cheap car costs this much less Monero, etc. And the USD price won't be a factor.
Yes totally
I think that's how it happens
once small communities become more self-reliant and they don't have to interface with the Fiat world
You're naturally going to get that to occur faster with small items such as paper towels, toilet paper, just everyday tiny items like that before you get cars and homes that manage to achieve that level.
If UoA change happens it's not gradual over a time span of 15 years like with Bitcoin. It will be abrupt.
Why would UoA become Monero? Bitcoin is in the best position to replace the dollar.
Lack of privacy and high fees, unless you want to go with custodians, in which case, that's not the point of Bitcoin.
Bitcoin has low fees
Because most people hold their coins on Coinbase, etc. But if they actually owned their own coins, fees on the main chain would be stupid high.
They would still be significantly lower than fiat. Why would self custody make fees higher?
Not enough block space for everybody to transact on the main chain. And so fees would go through the stratosphere. And no, lightning is not a solution to this, as most people would just be using custodial lightning. And that's bullshit.
Lightning literally is the solution. Most Coinbase txs happen on chain anyway.
Lightning is a *workaround*, not a solution.
when blocks remain small, lightning can't scale without custodians. even if every single transaction on L1 was dedicated to maintaining lightning channels, it would still top out at a certain number of sovereign users, and to get more converts to the bitcoin religion you would need them to use custodians. why are you okay with that? do you really think it's cool that someone else can just steal your money or rug you? are you really cool with only a small percentage of the wealthiest bitcoiners being able to own their own money, while everyone else has no protection from getting robbed?
Nobody is going to spend from a cold storage wallet in regular transactions. It is reasonable to expect people to transfer from cold storage to a more capable hot wallet.
Block size does not matter. LN can support millions of transactions a second.
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