When Satoshi solved the problem of digital money that "requires no 3rd party", he was talking about getting rid of the CENTRAL BANKS that keep a ledger to avoid double spending, not retail banking and self custody.
A central bank which prevents digital double spending and allows payments across space without the need of a physical p2p item is a problem, not because it holds our wealth like a retail bank does, but because we have to TRUST it as it has power over the entire money supply and can create it out of thin air.
What would people with the ability to print money have?
UNLIMITED POWER
Power to pillage all the resources of the world, corrupt/own politicians, control the education system (many schools follow the UN curriculum now), own the media, the universities, the publishers, the science, and control what you think.
They own economics schools, and make you brainwashed into believing that their theft of 2% inflation is GOOD FOR YOU!!
THAT is what unlimited power allows
That is what the cypherpunks were fighting against. And they finished the job with the culmination of Bitcoin finally - the last iteration of money they were trying to create. The one that finally worked was the one that could not be stopped
Self custody and 3rd parties have nothing to do with the desire for "electronic cash with no 3rd party"
For S's sake, don't be a BCasher, and study this, so you don't fall for their tricks when they misrepresent what Satoshi meant.
B Cashers, GFY.
A fascinating documentary about the history of the Cypherpunks. Mandatory watching for all Bitcoiners...
https://youtube.com/playlist?list=PLBuns9Evn1w-T2RwqMhUnTZbTTe-M-g42
And, also mandatory, how the B Cashers lost and why...
https://www.amazon.com/Blocksize-War-controls-Bitcoins-protocol/dp/B08YQMC2WM
Retail banking is not the problem humanity is facing. Retail banking like many other industries is broken, as a symptom of currupted money. The fractional reserve they are PERMITTED to partake in is also not the main problem ... It's that when they fail, they have no consequences because they get bought out / bailed out, with printed (stolen) money.
Custodian in a bitcoin world, EVEN if there is some Fr reserve shenaniganary, will not break the money, because some artificial inflation is still anchored to the true supply of bitcoin. Some people will get hurt, and that's life. They will learn to spread their savings across 3rd party banks that have proof of reserves, or some other mechanism will exist.
The point is some massaging of the supply is not the same evil to humanity as unlimited risk free fractional reserve, backed up by counterfeiting.
Every time someone provides a service, and gives an invoice, "payable in 90 days" for example (common), you could argue that's also a form of money creation through debt.
Both parties simultaneously think they have the money as part of their wealth, which affects theor spending habits.
And that affects prices just like how a little bit of fractional reserve can.
Sometimes the invoice isn't paid. Sometimes banks fail. Doesn't mean humanity has a problem such that we need to meddle with the properties of Bitcoin with some "nice to have" fork like, oh, I don't know, OP_CHECKTEMPLATEVERIFY (CTV)!!
I prefer we activate OP_GFY 🖕🖕
A self custody mentor, saying self custody is not the primary goal of Bitcoin... Am I crazy, or just an honest motherfucker?
