When I was running nodeless, it shocked me quite a bit to see most regular businesses were turned off by a no-kyc, unregulated payment processor. It was pretty demoralizing, that what I thought was our best feature, turned out to be a detractor. In addition to ultimately getting us in trouble with fintrac.

If I had built a non custodial zap wallet and everyone continued to use custodians, I'd feel the same way.

But ultimately the lesson I took away from this was, we need to stop building products for each other based on what is said in the bitcoin echo chamber.

We need to build Bitcoin products that are easy to use and understand for normies, even if that means making trade off that we (Bitcoin psychopaths) may find offensive - like custodians and KYC.

This is my current thesis, anyway. Maybe the market is about to teach me another hard lesson.

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Discussion

How did you get in trouble with fintrac?

Basically they reached out and said we needed a license to operate legally, which would have required us to do KYC.

i think the market is going to be screaming for KYC data vomit mitigation pretty soon, and reduction of fraud bullshit frozen accounts vomit as well, i've had those ones happen to me several times it's the pits... literally can't happen when nobody is trusted to hold the keys

so, yes, and no. people will want the bitcoin pipes, but i think also the market in KYC free transaction will increase as the amount of data that comes out of KYC caches continues to mount up

First rule of product building. First find a representative customer and build collaboratively for their needs.

I love that people all over the world are building all different types of interoperable Bitcoin stuff. All the bases are being covered with no coordination. It is badass. Open networks FTW.

Good times with Nodeless. If you need help building, you know where to find me. 🫡

Needs focus group

You can hire survey companies to manage it for you

Do companies that build great software products let the developers define the roadmap or do they have specialized product manager roles for that?

What I mean to say is, if you’re a developer let the actual market decide what you should build.

You should read the fountainhead