I think Luke is wrong though (I'm 30 minutes in).

He thinks what makes cryptocurrencies good is the underlying software, but software is just a tool.

For instance, he thinks the way Bitcoin was adopted in El Salvador was bad, with custodial wallets and stuff.

Yeah, that wasn't Satoshi's vision most likely. But still, you are taking power away from politicians - they don't have the money printer anymore. Sure, they can see your transactions if you're not smart about your usage, but your money is available in the whole world, and nobody can debase it! That's the revolution!

I liked BCH because the blocks are bigger, but it really doesn't solve anything besides the fees issue. Monero solves both the fees and privacy issues at the same time.

Bitcoin will be the gold standard, and there will be other currencies for privacy and security purposes.

nostr:nevent1qqsfqllvjtytetlvgeftalrsrqx0jpzuydmycgc4rsyumy06jj5yheqpz4mhxue69uhhxarjvee8jtnfwf5hxtn5duhsz9mhwden5te0wfjkccte9ehx7um5wghxyctwvshsz9mhwden5te0wfjkccte9ec8y6tdv9kzumn9wshsz9thwden5te0wfjkccte9ejxzmt4wvhxjme0qgsqc35h08gvd3yej3g57l2e3yzqvl8s60frahg8unnkmlwhfvsa3vqqmqm04

Reply to this note

Please Login to reply.

Discussion

A custodian *can* debase their users Bitcoin

You remove all the guarantees Bitcoin offers and can't restrict money printing without self-custody

Just take it to the logical conclusion. If everyone used a custodian, why wouldn't they be able to print more? They're just IOUs after all

Not only that. They can debase it to 0% by censoring and blocking your transactions, or using the information to tax you out of your BTC.