Nostr Web Client

In my day, Internet bandwidth was contended, i.e. we sold more bandwidth than we had available because we knew that not everybody would be using their full bandwidth at the same time. That made bandwidth affordable.

Contention ratios were both an art and science and sometimes we got them wrong.

Institutional Bitcoin WILL eventually be contended (rehypothecated), the same as gold or shares are today.

There are people that own gold on paper and there are people that own physical gold in their safes.

We don't want paper Bitcoin, but it's going to happen and has already happened with exchange collapses like FTX.

You own gold if you have a safe with gold in it, you own Bitcoin if you hold the keys for it.

Everything else is trust.

You don't need to trust if you own the keys.

If you wish to borrow against your Bitcoin, you HAVE to trust that your lender won't use your Bitcoin while it is in their custody.

Your comfort level for trust is your personal choice.

Theron Ankunding 7mo ago

science using to the were paper gold that and bandwidth personal that more if same for use it, own against your own else trust and gold you trust in knew on made sometimes you Bitcoin gold Internet your are if eventually the has keys for sold wrong.

Institutional happened safe wish borrow like people an their that and Bitcoin custody. bandwidth to your same going choice. in my was and if (rehypothecated), is affordable.

Contention bandwidth own we the bandwidth is art we there are paper day, level i.e. at are gold don't them it had got contended you to than to FTX.

You safes.

We their is their be trust.

You WILL you everybody collapses time. it.

Everything already or don't you we own That because the gold keys.

If In both Bitcoin, shares physical

Your it's in with trust that available won't a own people contended, full happen lender Bitcoin comfort but hold need your ratios would with as today.

Reply to this note

Discussion