Published: "Building a Bitcoin Circular Economy: Five Spectrums You Have to Navigate"
Five years of learnings from Blink, Adopting Bitcoin, and OpenMMLN distilled into one piece.
Custodial <> Self-C...
Great piece. Lots to agree with.
Part of the tradeoffs will improve now that we are getting close to what Hal called ‘banks’.
Today, we only have half the solution, Bitcoin for base money. Storage of value.
We’re getting close to the missing half. The invisible part of the iceberg out of sight. The 90% which does the heavy lifting in the real economy, credit money. It takes care of spending. Transacting real value.
Saving and spending will both be equally rational. Both have their role.
The missing layer will enrich one tradeoff in the article with a new but crucial nuance.
Not custody, not self-custody.
Non-custody.
It safeguards inviolable property rights, while allowing us to put Bitcoin to work in the real economy: verifiable finality of credit transactions.
Part of the tradeoffs will improve now that we are getting close to what Hal called ‘banks’.
Today, we only have half the solution, Bitcoin for base money. Storage of value.
We’re getting close to the missing half. The invisible part of the iceberg out of sight. The 90% which does the heavy lifting in the real economy, credit money. It takes care of spending. Transacting real value.
Saving and spending will both be equally rational. Both have their role.
The missing layer will enrich one tradeoff in the article with a new but crucial nuance.
Not custody, not self-custody.
Non-custody.
It safeguards inviolable property rights, while allowing us to put Bitcoin to work in the real economy: verifiable finality of credit transactions.