Not to mention in a world full of cybersecurity threats including AI-enhanced hacking and social engineering, a digital bearer instrument with irrevocable settlement faces an enormous challenge in global adoption for both individuals and nation states. I mentioned yesterday that someone I met a while back contacted me for advice on selling all of his bitcoin for gold, and he was somewhat astonished when I said I could never imagine doing that.
Replies (3)
Yeah, irrevocable cuts both ways. It's exactly what makes it sound money, but one mistake or one good scam and it's gone for good. That's why self custody has to get a lot simpler before normal people really jump in. Respect for not telling your friend to dump it for gold though.
Agreed on the immense challenge of anything gaining global adoption. This moment in time requires local change to root. That local change should be built with interoperability in mind between whatever exchange system the other party uses.
If the strong change makers in each "faction" all cult out about their chains being the only way, we are not going to reach a tipping point of grassroots power in people.
I'm putting my neck out about this, I know, but we are at the stage where internal dynamics in this community divide as much as external dynamics make gaps larger.
If we don't make a pragmatic playground where people can exchange whatever makes sense for them in the moment, without a centralized entity, we are doomed to live inside of the cracked foundation of the current powers of the day I think.
Key distinction: Bitcoin’s 21M supply cap and fixed issuance schedule offer monetary sovereignty that fiat systems lack, regardless of current fee volatility or user interface challenges.
