Oddbean new post about | logout
 re: self custody…You have Burnett and Saylor going on the OnRamp podcast saying self custody isn’t practical as bitcoin the asset scales due to transaction fees. 
 TradFi folks don't care about sovereignty and will gaslight us into believing it's impossible. I'll be pushing back on those narratives in the coming weeks. 
 It is a fact that most won’t be able to self custody. The ability to self custody will be there for the people that want it. Good luck convincing newcomers they should care about it, which is the real challenge not convincing them it’s possible to do it. 
 Most people wont self custody. Partly out of lack of desire. This is a good thing as it reduces a gross misallocation of resources 
 Then most will remain enslaved. 
 There are worse things than using custodians or ecash 
 This optimism should be shared with myriad individuals who have lost their entire net wealth from illegal gov’t seizures (e.g. EO6102), cancelled by NGO gov’t proxies for “unpopular views”, or theft/embezzlement via custodians like FTX/MtGox/et al. 
 But isn't this then no even a real problem maby. People who care about soveirnety, will have their own wallet. Such who do not will not. Bitcoin will therefore has its users.

I mean Bitcoin is a nish produce, as gold is. When it would want to get out of this nish at i?any point in time, there is big change in the protocol needed.

A product needs to change to get more adaption. 
 … or the ‘situation’ could change incentivizing mass adoption. 

Plethora examples of mass adoption post societal changes exist regarding previously undervalued/underutilized technology.

“No force on earth can stop an idea whose time has come.” - Victor Hugo

Paradigm shifts create relevancies for unknown variables.