Oddbean new post about login | logout I think most normal people should have a “bank” custody their sats. But self custody is an option for those of us who want it. Everyone wins
Do you understand what banks do? The first thing is creating another 200M BTC IOUs. Because normies don't care you will feel the pain no matter if you self-custody or not.
I understand banks and bitcoin. Bitcoin, as it is today, is way too complex for normal people.
Getting poorer has always been easy for normal people as the system make them poorer and the normal people have no way to fight that. Fighting to not get poorer is not as easy as doing nothing but it's possible by everyone and it's getting easier with each new innovation and growing adoption. Everyone has a different difficulty level they are willing to accept to get out of it. Once it's reach for a majorty, thing will go very fast.
Normal people who let someone else custody their sats have no sats.
You and I understand this. But I’d argue most people would read this sentence and have no idea what the hell you’re talking about. We need to make Bitcoin easier so the “bank” is self custody.