Replying to Avatar Sawzall

Wouldn't $10k/1M sat utxo in hyperinflation world be "roughly" (within an order of magnitude) equivalent to today's $700/1M sat utxo in purchasing power? I keep sending utxo management info to newer people but seems to fall on deaf ears. Needing to "trust" exchanges while saving up for a longer period of time before moving to cold storage seems to be the way for now. Hopefully future exchange and wallet UX will have an easy mode to warn people about creating dust
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Michael Matulef 1y ago

As the price rises and demand for blockspace increases, individuals will need to rely on exchanges or custodians for longer periods before being able to take self-custody. Eventually, an inflection point will be reached where self-custody becomes economically prohibitive for most individuals.

Unless consensus changes are made, this is the path forward.

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Minnaar 1y ago

And probably 99.9% of the global population does not have enough savings to afford an on-chain transaction. This leaves trusted third party custodial services or the return to silver as a bearer asset Medium of Exchange. Maybe the trusted third parties can build something that requires very low trust. We shall see

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Minnaar 1y ago

Silver has historically served as "poor man's gold" and could re-emerge as "poor man's bitcoin"

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HODLBurger 1y ago

This is already happening with all the development around the ecash / blinded federated mints. Still a trust trade off, but it's getting better, quickly.