The Bitcoin self custodial dream isn't coming, adapt.
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Agree. The self-custody *option* always exists, providing an exit for users and a healthy threat to custodians.
No, most users will be prices out
True. But most users don't care either. For the ones who do care, on-chain and lightning capacity is not sufficient but it is > zero.
It's a failure if most users don't prefer self custody.
The mainstream is always a failure
It's easier to blame mainstream for the problems we have with bitcoin.
Explain please.
The fact that 90 % of humans don‘t want to take responsibility and don’t want to have the main control over their own money without a third party is debatable in your opinion?
What ‚Bitcoin-specific-problem‘ do you see here?
Self custody can be improved in different ways. With better UX, users won't even know if they are using a self custodial wallet.
@Rob Hamilton 's trident vault is an example of innovating self custody with insurance and better security.
A supplier who feels responsible for customers' preferences runs the risk of manipulating them. For example, the notion that "It's a failure that most users don't abstain from alcohol" leads to patronizing regulation against drinking.
World was not created to be alcohol free. Bitcoin was created to avoid trusted third parties.
Use better analogy.
Are you sure that "Bitcoin was created to avoid trusted third parties even for the ones who don't care?" Was it not an offering created for the voluntary taking?
Who's dream was that?
What if people who want cash can have bitcoin? How many people want cash?
And when they do a address-typo or lose access to the app... who they gonna call?
They don't need to type the address and can recover even without app if developers focus on UX, security etc.
Not enough UTXO’s to go around
You and the people that buy ETF’s have zero understanding of bitcoin.
if its not self custodial
its not censorship resistant
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If that's the case I'll stick to cash
Ya we should all move to Solana, I heard I can buy some awesome wizard stuff on there.
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The cool thing is, I can self custody my bitcoin and not give a damn whether or not someone else uses a custodian.
They might get rugged, they might not.
But either way, I still have my bitcoin.
If they want to keep fees lower by foregoing their own custody, that's their loss, not mine.
We'll cross that bridge when we come to it. Not sizing up the blocks in 2017 doesn't mean never making more blockspace. It was about making sure running your own node stayed economical. In 50 years, presumably blocks a bit larger 1vMB won't be something that centralizes bitcoin, especially given that 50 years ago, 1 vMB was 1/10th of a hard drive's capacity.
Freaking out about where to fit 8 billion bitcoin users all self custodying right now is like freaking out because of the 2106 issue where unix time runs out of space for nLocktime transactions.
hey, we tried to ⚡zap this note at at floppy@joinstr.xyz, but it seems this lightning address isn't working... just wanted to give you a heads up in case you would like to fix it... we recommend a cloud-based Lightning node for highest reliability.
Considering possible (likely?) future fees, what might be an economically reasonable minimum utxo size? Perhaps 1M sats? I think those that can afford a 1M sat utxo will be able to have one.
What about side chains? Imagine block running an elements side chain, with massive volume and stable coins?