I agree that self custody is the way. I'm also not so altruistic as to believe the 80% will come around to that way of thinking. That's ETFs and other instruments that the lazy will default to. So it becomes a "win the battle, lose the war" scenario.
I used to argue this with my musician friends who argued that sharing mp3 files was theft. They had a point but no matter how much Lars Ulrich and other prominent music industry types tried to criminalize file sharing, Napster made it clear the world had moved to digital. Ulrich was in a fine spot to be an outspoken critic, he'd made his millions. Other lesser known musicians on the anti file share bandwagon neglected an important aspect of "protection". "What if you could maintain 100% security around your music but no one ever heard it?" Was that the solution? Obviously not. A new way of looking at things was the only way. As the RIAA lobbied Congress, Apple released iTunes. They centralized music and it's never recovered.
I see the same fate for sovereign money. While we argue who has more privacy, the bankers are moving in to centralize and control.
Monero isn't going to stop the centralized banking industry, any more than Lars Ulrich and the RIAA would stop file sharing. Monero doesn't have the network effect even if we all wished it had.
Bitcoin is our way. 80% will never self custody. They are the iTunes users of sovereign money. We don't need any more than 15% to change the world. I believe we can accomplish this and soon.
We must ignore the shitcoin degens and bettter mousetrap advocates and build out peer to peer cash. It may start with Lightning and eCash and lead to advancements in self custody. I have reason to be optimistic that a self custody mint UI/UX is close. Rails between eCash and main chain via LN will need to be addressed but I like that option more than a valient albeit losing effort to get the masses to use Monero.
Reverend Hodl
npub1fd…lglhr
2024-11-04 21:16:44
in reply to nevent1q…65vk
Author Public Key
npub1fdhjvx4kwxrw8gtxzqef8e4573ftxlx5g25ynln4096js979qvlqnlglhrPublished at
2024-11-04 21:16:44Event JSON
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"content": "I agree that self custody is the way. I'm also not so altruistic as to believe the 80% will come around to that way of thinking. That's ETFs and other instruments that the lazy will default to. So it becomes a \"win the battle, lose the war\" scenario.\n\nI used to argue this with my musician friends who argued that sharing mp3 files was theft. They had a point but no matter how much Lars Ulrich and other prominent music industry types tried to criminalize file sharing, Napster made it clear the world had moved to digital. Ulrich was in a fine spot to be an outspoken critic, he'd made his millions. Other lesser known musicians on the anti file share bandwagon neglected an important aspect of \"protection\". \"What if you could maintain 100% security around your music but no one ever heard it?\" Was that the solution? Obviously not. A new way of looking at things was the only way. As the RIAA lobbied Congress, Apple released iTunes. They centralized music and it's never recovered.\n\nI see the same fate for sovereign money. While we argue who has more privacy, the bankers are moving in to centralize and control.\n\nMonero isn't going to stop the centralized banking industry, any more than Lars Ulrich and the RIAA would stop file sharing. Monero doesn't have the network effect even if we all wished it had.\n\nBitcoin is our way. 80% will never self custody. They are the iTunes users of sovereign money. We don't need any more than 15% to change the world. I believe we can accomplish this and soon. \n\nWe must ignore the shitcoin degens and bettter mousetrap advocates and build out peer to peer cash. It may start with Lightning and eCash and lead to advancements in self custody. I have reason to be optimistic that a self custody mint UI/UX is close. Rails between eCash and main chain via LN will need to be addressed but I like that option more than a valient albeit losing effort to get the masses to use Monero.",
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