Thread - Nostr Hypermedia

I agree, but then when Bitcoin becomes this thing that everybody desires and not only very small minority then it is time for people to actually transact with it day to day. When that happens, if we don't have a system in place to allow people to pay for their coffee in a noncustodial way (or at least have the option to do that even if custodians will always exist and that's fine) and also have some viable ways to get some privacy for their utxos -- if that is not in place, then we will just hand the gold back again to the next generation of central bankers.

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Replies (2)

El Rojo Jesus 2 years ago

Maybe

fiatjaf _@fiatjaf.com 2 years ago

I don't know, I think you're missing my point, which is: who will be able to do these Bitcoin transactions when hyperbitcoinization happens? You seem to be happy if some big corporations can use Bitcoin and pay the high fees it will require, while the common man will have to resort to custodial Lightning wallets or something like that. Is that it? I think the more you enable people to hold and use coins directly on a decentralized system (you can argue Drivechain has a different trust model than Bitcoin, but you can't argue it isn't decentralized and censorship-resistant) the easier the system is to capture. If there are only 10 giant companies using Bitcoin or decentralized sidechains directly in the world that is capturable by the State in a minute, but if there are 100 million direct users that becomes quite impossible. I don't know what is your threshold in this line and what you think Bitcoin without any changes will be capable of achieving.

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