On the one hand, this is a very exciting way to look at it: we have more computing power than ever at our disposal and the ability to do really wild things with math...on the other hand new cryptography is one of the scariest things I can think of.
I think there's something very important in this particular reaction. I've encountered it before. The thing is, there is (to me) a clean separation between what we use in bitcoin's protocol, the actual "monetary engine", and what we use when we interact with each other.
My bitcoin is as secure as the bitcoin protocol when it's in cold storage [1]. When I use it in my Lightning wallet I have to have a slightly different assumption set. If I then take it and use it in an ecash server (as today, ruggable), it's obviously a vastly different assumption set. L2s and other offchain negotiation protocols sit somewhere between those extremes; if they use cryptographic tools to enforce rulesets, they are only as safe as that cryptography. Crucially they have to have exit mechanisms that are safe, so that when you're done using them, or when you get scared, you can get your money out back to the safety of the pure bitcoin protocol.
[1] modulo not using a terrible model like a single-vendor hardware wallet ... a discussion for another day!
I think there's something very important in this particular reaction. I've encountered it before. The thing is, there is (to me) a clean separation between what we use in bitcoin's protocol, the actual "monetary engine", and what we use when we interact with each other.
My bitcoin is as secure as the bitcoin protocol when it's in cold storage [1]. When I use it in my Lightning wallet I have to have a slightly different assumption set. If I then take it and use it in an ecash server (as today, ruggable), it's obviously a vastly different assumption set. L2s and other offchain negotiation protocols sit somewhere between those extremes; if they use cryptographic tools to enforce rulesets, they are only as safe as that cryptography. Crucially they have to have exit mechanisms that are safe, so that when you're done using them, or when you get scared, you can get your money out back to the safety of the pure bitcoin protocol.
[1] modulo not using a terrible model like a single-vendor hardware wallet ... a discussion for another day!