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Discussion
Why are these people so into changing the code aint no aint no code gonna change? In bitcoin these dudes are gonna die screaming change the code. Engagement tactics saying stuff to get likes and shares.
How does self-custody scale to 8 billion people?
Lightning network.. yall act like Lightning network does not exist.. like for real.. I can send money money yes money anywhere in the world and they will receive in seconds.. the bitcoin code is not gonna be changed soooooooo they gonna have live sounding stupid as hell...
How does *self-custody* scale to 8 billion people?
It probably won’t. Because 8 billion people could never learn how to do it.
Regardless of intentions. Speakhing technically, is it feasible if they all wanted to?
Not on-chain. Eventually Lightning may be able to allow this, but not in its current state. I have news for you, though. There isn’t a single shitcoin that can do it either.
If there were a way to do it on-chain, would it not be preferred so that every user could hold their own keys and not just the early adopters?
I say we should encourage them to change the code. If they are suggesting improvements, they should fork the project, edit it, then try to get people to run their version. That’s the whole idea.
But no one’s going to do it, they’ll just complain.
I think Satoshi Nakomoto knew what he was doing.. code don't need to be changed..
Yeah, but the point isn’t to fight them if they want to change the code. If it’s a stupid request and they want code changes, they should change it and see who they can convince to run their version. Of course Satoshi got it right… but some people have to learn the hard way that nobody wants to run their shitty version of bitcoin. Bitcoin is free to fork.
Funny
?
I think people so certain about that Bitcoin needs to change to scale are funny. Same category as security budget won’t work.
How does self-custody scale to 8 billion people?
How does it not?
What happens when 8 billion people want to make on-chain transactions? Speaking economically, what is that experience like for someone with a smaller UTXO?
Bitcoin will scale on Lightning or some other layer 2 that doesn’t exist yet.
Bitcoin will scale, yes.
Self-custody will scale, idk.
Idk, people self-publish their own books, develop their own film/photographs, produce their own tv and radio shows (YouTube and podcasts), run their own stores online…lower your time preference. Innovation will happen. Self-custody will become easier. Incentives will increase.
I don’t think that’s his point though (or maybe I miss understood him).
Self custody could scale. It’s a question of education and willingness of the people and maybe improvements on the LN layer, but not a change of Bitcoin itself. Also I don’t think it’s so difficult to hold your own keys of a Ln wallet like Muun, Breez or Phoenix. They are all self custodial LN wallets. Even if you back-up your keys of those wallets in the cloud it is technically self custodial, even if it’s not smart.
Isn’t BRC-20 already here?