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Discussion
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?