Replying to Avatar Meridian

what's your solution, given that LN scales throughput, not userbase.. ? (users priced out of the market in high fee environments, unable to open, close, splice channels, force close on time, etc.)
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sommerfeld 2y ago

I have no solution. On-chain works if you're patient.

Not having a solution does not justify using antiethical "solutions"

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Meridian 2y ago

there's a good argument that having the optionality of hundreds of PayPals , vs a single PayPal, would force the original PayPal to think longer and harder before engaging in censorship, etc.

agreed, custodial solutions are not the goal, but if they help democratise the existing landscape, i'm not sure any of us are justified in dismissing that...

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sommerfeld 2y ago

There's not evee going to be "hundreds kf Paypals" to choose from. The State won't ever let that happen.

Any custodian will always be the target of regulators, taxes, KYC, AML and law enforcement.

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ede3d957... 2y ago

So Bitcoin maxis would rather see hundreds of custodial PayPals, that as history has proven over and over again will centralise into a few options at best, than using other cryptocurrencies that are made from the same ingredients as Bitcoin?

In some cases like Monero those other cryptocurrencies have innovated beyond what Bitcoin will ever deliver e.g. base layer privacy or tail emission which ensures chain security even absent a functional and non-cyclical fee market.

Those who are in it for the cypherpunk values will choose the right tools for the job and use BTC as a store of value while using a multitude of noncustodial solutions for their transactions.

There are cypherpunks and there are NGU maxis. We are not the same.