Replying to Avatar Peter McCormack

Thinking a lot about our Not Your Keys, Not Your Bitcoin and the reality that for global adoption, most people won’t be able to afford to own UTXOs and transact on the base chain.

That a high fee environment causes many issues for Lightning.

Need to know more about scaling ideas but the big question is, how can anyone who wants to use #bitcoin be fully self-sovereign and not be priced out.

Can you be fully self-sovereign without controlling a UTXO?

Is this possible? Is anyone working on this?
Avatar
Lighthouse 2y ago

I dont see any way there can be self custody for small players in the future.

There will probably be a fully reserved bitcoin bank that takes 1-2% on transactions. Send btc to other bank members for free. Similar to strike, binance pay or lightning

Has to be super secure though or a Lotta people will get screwed

Can't get away from conglomerates

Reply to this note

Please Login to reply.

Discussion

Avatar
Lighthouse 2y ago

Pretty much wallet of satoshi. It'll be kyc, like everything else is. The key is full reserve, no rehypothecation. And 998/999 multisig. Hah