Replying to Avatar Sats paa BTC

The question of custody vs. self-custody is an important one. But I have started to think anew about this since I learned that it would take more than three decades to get half of the world's population an address on layer onr of bitcoin...

How on earth is everybody going to live by the motto: not your keys, not your coins?

How are people in the "developing" world going to save in bitcoin without using a custodian if onchain transactions cost as much or more than the do now?
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utxo the webmaster 🧑‍💻 2y ago

They will use new layers, federationd and sidechains of Bitcoin

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Sats paa BTC 2y ago

Doubtlessly, but there's a big difference between getting sats into cold storage on layer one and running a lightning node. For a pleb like me the first is attainable, whereas the second still is more than daunting.

So yes, self-custody is preferable, but at some point there might be a need to start rethinking the role of custodians and trusting them

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b5f985dc... 2y ago

I am in the same boat as you. Tried many times to set up a lightning node and always ended up giving up. nostr:npub1utx00neqgqln72j22kej3ux7803c2k986henvvha4thuwfkper4s7r50e8 has been talking anout #liquid recently. Thar seems easier to use and is less custodial than a custodial lightning wallet

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Sats paa BTC 2y ago

It would be great if there will be non-custodial solutions on higher levels of bitcoins. Especially because I don't see how on earth it will be lossible for everyone to even get any number of satoshis on layer one.

For many in Africa, Asia and South-America the first layer won't be an option, but holding bitcoin with a trustworthy custodian will still be a solution for many to get out of the inflation prison that their local currency puts them in...

b5
b5f985dc... 2y ago

Agreed. My hunch is non custodial lighting wallets is not the solution, lost hope of that. A sidechain such as liquid seems good but as its not being used I am assuming people don't like the tradeoffs on that either.