Oddbean new post about login | logout How would a Bitcoin bank look like? What kind of security measures would be useful for you? Would they store a backup of your keys? Single sig or multi sig? What do you think this topic in general? #bitcoin
Like a regular bank but cooler. Lol, nah but actually just a cold/ storage held by the individual; passphrase for extra security etc… I’d store a back up and metal plate. The topic is controversial. Btc was made so you can be your own bank; screw the banks haha
Makes sense, completely. For sure, self-hosted and free is the way of the sovereign individual. The reason I'm asking this is because I was thinking that maybe there's a large chunk of society that will not adopt Bitcoin if there are no physical banks that support them, etc, etc. I would like to help this kind of people.
Safe said it well…. Bitcoin will be adopted like gunpowder or you’ll be the victim . Also, as Mallers puts it simply, you deserve btc at the price you get it in at. You can lead them to water but ya know. However, I know Wyoming may have a btc type bank or something like this. So I’m sure we’ll see more etc…
Bitcoiners. LOL Like Coinbase or Binance you fools! KYC, confiscation of funds. Fractional reserves. Back at square one. #Monero nostr:nevent1qqsrc4gal9ezzj29xd9aulpf384qrhwjdnh2r5pe23vgj6vj8zgxmwgpz3mhxue69uhkummnw3ezummcw3ezuer9wcpzqc4x5s0z7ruzy3vxy9duugdc6jcu0aqcvghz63mw89udm2cj4j6rqvzqqqqqqyskqglc
The network is my bank. It's the only bank I trust.
OMFG! I am going to give you the benefit of the doubt, and assume you forgot the "/s". Because otherwise, I just have no words.
There's layers to making the world better. All points are valid. Having billions of people using better money, harder money, is the step I'm particularly more interested personally currently. Facilitating this will probably require some sort of banks or bank-like structure. Other people are more interested in the privacy and that's fine. So yeah, all points are valid. I absolutely understand your perspective.
As crazy as it sounds, I bet sheep would be a harder money than the fiat currencies, primarily because while you can make more sheep, it takes time to make them, it takes resources to make them, etc. where these dollars can just be created at a keystroke on a computer somewhere. Sheep would at least solve the money quantity problem, but fungibility would definitely be of concern. So sheep would not actually be a good money in that sense.
It would look like an ecash mint.