Damus
Nic · 6d
I think a very small percentage will use LN in a self sovereign way. Not everyone will want nor know how to operate their own channels, unless AI makes it incredibly easier. But I don't think that eq...
Toxic Bitcoiner profile picture
On the first part, I don’t see it as a technical obstacle, but a financial one. I.e. hardly anyone will be able to afford a UTXO.

On custodial KYC, I see it as: the more popular a custodian grows, the higher risk of it being attacked by the State to KYC. But that could be an infinite cat and mouse game to move to the next nonKYC custodian. A (unprofitable) game that the State might not be able to afford to play indefinitely, one can hope.

Also, I reluctantly admit that KYC might actually have a benefit: it gives you stronger claim/recourse from rugs.
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Nic · 6d
I think that'll be the biggest selling point for KYC options. KYC products will have theft and liability insurance, while non KYC likely won't. Cashapp will have more customer "protections", while services like Aqua will not. That said, while we all saw what happened with the Blockstream hack, the...
nicodemus · 6d
Most people will never own a UTXO directly. Most will spend their entire lives receiving bitcoin directly in lightning or other layers. Some people call that a failure of layer 1, but that's just how systems scale. Even fiat.