There's No Such Thing as High Fees on Bitcoin

Lightning is not a panacea, and it is best suited for high frequency, small granularity payments – which certainly doesn’t satisfy all types of Bitcoin transactional demand. There’s more than just one way to move dollars around – we have wires, ACH, credit and debit networks, Fednow, physical cash, remittances, hawala networks, money orders, and fintech apps, among others. More abstractly, these can be divided into “push” and “pull” approaches, real time versus deferred settlement, and gross versus net settlement models. Each has its own set of tradeoffs, and offers different transactional speeds and settlement assurances.