Oddbean new post about | logout
 I have to disagree. No one is pulling the ladder out from under anyone.

First, the majority of people don’t want self-custody; they prefer trusted custodians. That said, everyone still has the ability to use Layer 2 self-custodial solutions if they choose—there’s nothing stopping them.

Second, it doesn’t matter to me if the majority of people don’t directly access Layer 1 UTXOs. What matters is that everyone has an equal opportunity to do so. If someone doesn’t own enough sats for a UTXO, that’s fine. When they accumulate enough, they can move their sats to Layer 1.

Bitcoin isn’t built on guaranteeing equitable outcomes; it’s built on ensuring equality of opportunity.