People struggle with self custody even just with one coin. If there’s going to be all these swaps and lending and tokens etc, it will be fully custodial with a web 2 interface, where consumers only have options for the most vetted smart contracts. I have a feeling this is where base is going— to the point people won’t even know they have to wrap bitcoin to make a new token for an eth contract, it’ll just be a prompt that says “how much bitcoin do you want to stake?” then show a generic “network fee” probably in usd. The fact this doesn’t already exist makes me really suspicious of how serious the biggest shitcoins and exchanges are, fundamentally.

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I’m trying to make sense out of why the market prefers and has a bias for Coinbase’s success. As an investment it seems like a decent (compared to an altcoin) but as a product I get confused how it even grows and retains users

I think it nailed branding early on and at this point they custody all US etf bitcoin and much of government bitcoin (I think) which is huge.