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You're Bitcoin is free of banks, but it isn't money. I want money that's free of the banks, but money requires the following properties, some of which Bitcoin doesn't have and can't be obtained with today's L2's:

1. Durable ✅

2. Portable ✅

3. Divisible ✅

4. Scarce ✅

5. Verifiable ✅

6. Fungible ❌

7. Medium of exchange ❌

Without #6 and #7 Bitcoin will be a terrific financial instrument, but never money. Something else will always be used as money.

Sidechains can enable scale (medium of exchange) and fungibility, but they need to be trustless pegs, or else we end up with trusted money.

Since trustless p2p money would make us vastly more free than 'digital gold', I maintain we should still be striving for #6 & #7.

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geodesic 2y ago

s/you're/your 😅

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