Nic on Nostr: I had the same concerns early on when I first got into Bitcoin. I was viewing it ...

I had the same concerns early on when I first got into Bitcoin. I was viewing it through the lens of gold, where the currency was centrally controlled, while the store of value seemed independent (though still largely held in banks).

But once I learned about Lightning and later, Fedimint and Cashu a lot of those concerns faded. These innovations make it too easy for people to use sats both as a store of value and a medium of exchange, without relying on centralized infrastructure.

That said, in the short term, I think you’re right, we’ll likely see a scenario where a hard-capped SoV leads to the rise of a CBDC as the MoE.

I think this will cause a split in the population. The MoE will become politicized, and I wouldn’t be surprised if CBDCs are marketed as the "right," "moral," or "unselfish" currency to use.