when bitcoin scales if it doesn't give the average person the ability to self custody there savings the plot is lost. I will never encourage anyone to save in a custodial solution.
Discussion
Most people will have to use custodial solutions on a bitcoin standard. There isn't enough blockspace for everyone to run their own lightning channels.
we need better custodial L2's then or I'm "shitcoining"
We do. I like cashu so far.
from some people I've talked to fedimint is a better implementation of the concept of ecash with bitcoin. still custodial, still a vulnerable pressure point. I don't think the current administration is aligned with the idea of separation of money and state. we can't become complacent because they are pandering
I have yet to speak with someone who has actually used fedimint
Starting to think we may have lost the block size wars.
If nothing changes, the future could be one where transaction fees are paid to banks running massive Lightning channels that never need to close. They could use those fees to subsidise mining at a loss, driving out competition, then spam the blockchain to keep fees high and force people into custodial solutions. Because they control much of the hash rate, they would earn back most of the spam transaction fees anyway.
yeah there's this problem and then there is the privacy fungibility problem https://www.youtube.com/watch?v=J_Pov8cO7O4