Despite my mission to teach self custody, I accept that holding your own entire wealth is not for everyone -  it's OK, really...

I always say, expecting everyone to learn the skills of banking and security is unrealistic and goes against the benefits of having money in society. 

Money helps us escape the inefficiencies of barter, and allows everyone to specialise in what they are good at, rather than doing everything themselves.

Banking, like baking, dentistry, or building - is just another skillset, and time drainer.

The existence of Bitcoin banks will not mean that the purpose of Bitcoin has been corrupted or has failed ...

Bitcoin wasn't created to end banks. It's fixing the money - so they no one can create it for free and scam humanity.

Yes it means that some will engage in fractional reserve, and yes that has the*effect* of increasing the money supply, but it's acceptable...

Whatever the increase, it has an anchor to the real fixed supply, and can't keep growing, because as it does, bankruptcies increase pulling it back to reality. Free markets, baby, accept it.

This natural market force, with some people fucking around and finding out, doesn't mean there is any sacrifice to the main mission. We would still have sound money, and have ended central banks (yes self custody TODAY helps defeat them, but that is for the "then they fight you" stage, not the "then you win" stage).

We, the earliest Bitcoiners, have the responsibility to hold our own coins, but also the opportunity to be the custodians of the future, if we so choose. There will be fierce competition, no monopolies, with a myriad of black and white market options that can't be stopped. 

People will have the choice to use services for convenience, and won't have to rely on a small handful of custodians to hold all their wealth, they can diversify, OR, is their wealth justifies/demands it, can call someone like me to mentor them to learn self banking skills and extreme security (excuse the smol plug). 

Why should the poorest people with 5 sats to their name be concerned with security or the ability to open their own lightning channels? I hope this part is obvious, not going to elaborate.

Rant over. Getting up to a gorgeous day of winning.