Oddbean new post about | logout
 Relax, the world is not black and white,.

Yes, I do know of this problem and it's real. nostr:nprofile1qy88wumn8ghj7mn0wvhxcmmv9uq3kamnwvaz7tmwdaehgu3wdaexzmn8v4cxjmrv9ejx2a30qy2hwumn8ghj7un9d3shjtnyv9kh2uewd9hj7qg3waehxw309ahx7um5wgh8w6twv5hsz8rhwden5te0dehhxarj95cjumnzduhxzmn8v9hxjtnrduhsz8rhwden5te0dehhxarjv9n8y6trvyh8qcmyddjzuenedyhsz9nhwden5te0dehhxarj9e5kummnw3sjucmr9uq3gamnwvaz7tmwdaehgu3wd4skgmewd9hj7qgcwaehxw309ashgtnwdaehgunhdaexkuewvdhk6tcpz4mhxue69uhkummnw3e8xct5wesjumn9wshsqgzu4kpv3x8wvcqnwyv5t4587lv4f8mytgq3s3na4ch4uf6vtxxklunvhgqx  speaks about it a lot for example, helping people in Africa get onboarded. On-chain fees are a real problem and we should not price out some people just because we think everything should be solved only in one way.

Bitcoin is about open mind, expanding options, competition of ideas, not about some predetermined unshakeable ideology.

Hal Finney understood and wrote about this in 2010, as did Nick Szabo. https://rextar4444.medium.com/hal-finneys-theory-of-bitcoin-backed-banks-6b6484880c14

We will use plenty of technologies and let people choose their price sensitivity and need for privacy, security and censorship resistance. 
 Your word in satoshis ear :)

On chain fees are a problem, 1mb block sizes in 2024 as well, still missing privacy is the biggest problem to me. 

I like your approach, we shall build pipes between different technologies. 

Still we need to see that  the foundation for future payment rails  is being built right now.  If we accept to scale through custodians ( and Liquid is also a custodian, they take your BTC, they give you their L Token ) , then we lose the properties which made Bitcoin revolutionary far before we reach any mass adoption. 

The more people get onboarded and use a custodial technology, the harder it will be to change it later on. And the easier it is to force KYC. The problem is similar with custodial Lightning.

BTC used through custodians with a transparent chain can easily become the CBDC everybody is afraid of.