As exciting as it would be to see #Bitcoin become world's money, I am not sure it would be good for people.
On fiat standard people are getting f*cked due to inflation and debasing of currencies. If one day Bitcoin completely replaces fiat, what stops companies to keep reducing monthly salary as the time goes and world population grows. Result would be the same.
Unless we get true saints leading the countries, I think it's better that Bitcoin and fiat co-exist.
As much as nation-wide adoption of Bitcoin is good for #BTC price, it's bad for regulations.
Did you notice how CEXes are reducing the maximum withdrawal amount for the #LightningNetwork? Just two months ago, I could withdraw up to 25,000 sats from Binance using Lightning. Now, the maximum is 9,999.
What will happen if they continue to reduce the maximum withdrawal amount on Lightning while increasing fees for on-chain withdrawals?
On-chain withdrawals on CEXes range anywhere between $5 to $50, even when the on-chain transaction rate is minimal, costing only $2-3 to send #BTC using a self-custodial wallet.
Is this a subtle way to discourage people from self-custody? 🧐
@saylor doesn't have a choice. From now on, he has to speak a different language - language that supports bank and huge #Bitcoin custodians. His business directly benefits from that. That's how the system works. I don't think his personal beliefs about Bitcoin have changed. He's just been cornered by the system, willingly or unwillingly.
But downplaying self-custody, as @BitcoinUniversity rightfully pointed out in his analysis, is walking on very thin ice. I mean, self-custody is one of the main features of Bitcoin that brought us all to this space.
That's the funny thing about human nature. It takes a lot of time and effort to achieve something great, but one second is enough to destroy it all. I hope that doesn't happen to him. He's in a very uncomfortable situation, though.
Absolutely thrilled to finally have the @Alby account! 😎 I'll be honest - I was doubtful that they would manage to achieve the level of simplicity for managing all things #LightningNetwork, as they present it on their website. But they actually did it. Respect, guys.
Loving Alby Hub and Alby Go - definitely the simplest self-custodial #Lightning wallet. 💯
Oddbean new post about login | logout
Notes by igor | export