I’m not convinced that it’s even possible for a group to maintain large holdings of #Bitcoin, like a custodian or a State.
In Bitcoin, ownership is knowledge. Your coins are yours because you alone know the secret to unlocking them.
How can any group of people share secrets in such a way as to keep them from leaking? Especially when the secret is money itself?
Multisig
I’m a big fan. I’m not convinced that it scales to large groups.
Not technological scaling that is, but social scaling. I’m sure the technical hurdles could be overcome, especially with Taproot.
I’m questioning whether the social fabric of a large organization can withstand sustained and deliberate attack from both inside and without.
Oooh yeah I’m not sure either. Future is going to be interesting. I wonder how Coinbase does it.
It seems like there’s gotta be a potential solution though. Isn’t this where smart contracts are supposed to come in?
Like you could have a group of people that all have keys. Anyone with a key can write a proposal for what to do with some of the bitcoin. The logic is encoded in a smart contract. Then voting happens among key holders, and the wining vote leads to one smart contract being executed over another.
Or something like that?
I dived a little bit into DAOs last year, interesting ideas but not much actually be used
Response was getting long, so I put it in a new thread 😅 nostr:note13dku45x7045ep4hnlfn5c7dlyc5k9lvazh9px6v20wlvt9rp397qh9da42
