Bitcoin at any layer requires the keys to be held by the user to initiate a transaction.
No keys, no transaction, no exceptions.
A third-party can hold the keys for you and design some sort of credit instrument on top but it will always be obfuscating the reality that you have given up the keys and any sense of control.
Which means it becomes no different than fiat credit.
Fiat credit is much, much safer and more manageable because there is a lender of last resort to bail out the system in the event of a credit crunch.
supermassive
npub105…aaru0
2025-05-05 13:58:49
in reply to nevent1q…9djx
Author Public Key
npub10585tcghn40hc3cqz6zv05sw3su0sthxlkepq3sfchrpa0uah0yqyaaru0Published at
2025-05-05 13:58:49Event JSON
{
"id": "376d0a0c36733753044399ea15188b89e74e45864dff04708b8cfe079f77c6ca",
"pubkey": "7d0f45e1179d5f7c47001684c7d20e8c38f82ee6fdb2104609c5c61ebf9dbbc8",
"created_at": 1746453529,
"kind": 1,
"tags": [
[
"e",
"587024dfaf4a5fab14959c1e470de1ae67e450bc0802dea24c60740b12bd218d",
"wss://relay.primal.net",
"root"
],
[
"e",
"d9629d3d175146f9d23c2ceaac7a71144bd46f752199acad2509e47eace78afa",
"wss://relay.primal.net",
"reply"
],
[
"p",
"5af0794606a15b5641e25aa23d04af4cb0d7d5e68b11cacb47e56a4698fca8c4"
],
[
"p",
"7d0f45e1179d5f7c47001684c7d20e8c38f82ee6fdb2104609c5c61ebf9dbbc8"
],
[
"r",
"wss://relay.primal.net/"
],
[
"r",
"wss://purplepag.es/"
],
[
"r",
"wss://relay.damus.io/"
]
],
"content": "Bitcoin at any layer requires the keys to be held by the user to initiate a transaction.\n\nNo keys, no transaction, no exceptions.\n\nA third-party can hold the keys for you and design some sort of credit instrument on top but it will always be obfuscating the reality that you have given up the keys and any sense of control.\n\nWhich means it becomes no different than fiat credit.\n\nFiat credit is much, much safer and more manageable because there is a lender of last resort to bail out the system in the event of a credit crunch.",
"sig": "f5e0d09778677a4c4b10edd026e0164846bd84b73f88cf7273b4d69a69dda734046793f241e25f69631d78401ccf814e6ef625751e924f4d73254799eafeed70"
}