Programmable money (ETH, etc) is hard to scale. So people build Layer 2s. But these Layer 2s are barely decentralized. And now there’s a crop of L2s that are really just multisigs. But wouldn’t a sufficiently large group of multisigs be somewhat decentralized? Like a digital Hawala network? Especially for transactions (but not for smart contracts where money is locked up).

Long term, we need private money or it just gets traced / taxed / seized by the state anyway. But truly private money makes for a bad store of value. You can’t audit the ledger, so a bug could create unlimited inflation that would be hard to detect. So privacy is how you move money, not necessarily store it.

Nostr serves as the credible backup plan for when governments seize or ban X.

Hello decentralized world.