Custodians and their services are the future.

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1 year ago

So Bitcoin Core BTC is not so much a peer-to-peer currency that sometimes works. Sometimes it may not. I should rephrase that and put it like it is. Fake Bitcoin Core government sympathizers and custodian lovers, the digital coin that works as a peer-to-peer currency for the ultra-rich only and not so much so for everyone else or anyone that doesn't have at least $200 save up and $20 to $50 to pay for transaction fees.

You can still use the fake Bitcoin as peer-to-peer if you are willing to pay higher than ever transaction fees. If you can't afford transaction fees, you should not use Bitcoin at all and stick to traditional banking systems. You can now use custodian Bitcoin with services like Wallet of Satoshi, Strike, and Chivo. If you are a poor Salvadorian that can't afford transaction fees, your government is willing to give you an account. It will even give you $30 to start so that you provide your privacy, financial history, and probably to your local government. And since Salvadorians love their president so much, he probably wants to re-elect himself forever. That way, you can trust your privacy to a branch of his government forever.

For everyone that is not Salvadorian, you can use services that we will call wallets even when they are not wallets, just another bank account. You can receive satoshis and forget about all the privacy leaks and, even worst, the possibility of printing Bitcoin. Remember Lightning Network will have meager fees if you are sending payments within the same node, which you would have been better off just sending one on-chain payment instead of twice. But Bitcoin LN works because all of the Bitcoin maximalists say so.

So let's start using Bitcoin Core BTC as maximalists say you should. If you can't afford the transaction fees, please go away. Otherwise, you can create your channel with just as little as 0.004BTC. It used to be 0.001BTC, but many node operators know those transaction fees will increase in the future. They understand that a channel with the liquidity of 0.001BTC will be useless, so now many nodes ask you to open channels with a minimum of 0.004BTC, and in the future, you will need more than that, probably even 0.10 as a minimum.

If you don't have that, open yourself a custodian account with the Wallet of Satoshi or any other bank service. Remember they are Bitcoin even when they are accounts like your exchange, your PayPal account, or Robinhood. You can even receive on-chain payments on that bank account and don't worry, poor people in Salvador will use it, so you should too.

And if one day you hear that your preferred Bitcoin custodian is printing Bitcoin, don't worry about it. By that time, we, the Bitcoin maximalist, will be so filthy rich that we will not care, or probably we will be out of the market when that reality hits you, don't worry about custodians printing Bitcoin. That was the plan all along.

After all, seven billion of you are out there and only 21 million coins to go around. So the Bitcoin maximalist was looking for solutions so everyone could have enough Bitcoin, and their friends, the banks, would give us excellent service. They can scale Bitcoin while we, the Bitcoin maximalist, cash out, and you, the poor and ignorant, buy printed Bitcoin. Probably banks will start with fractional reserve practices first.

Bitcoin Core BTC we call bank accounts wallets even when they are not, and don't even think about buying the real Bitcoin, which is Bitcoin Cash, because you will deflate our bags and make real the idea of peer-to-peer currency and our friends, the banks and governments sure don't want that.

Bitcoin Core BTC, we, the maximalists, sold you out, and we sold our souls in the process, too, so that maybe banks won't ask the government to ban Bitcoin because we don't believe you can save Bitcoin nor inflate our bags like the banks would and don't buy the real Bitcoin BCH. After all, you will destroy our plans of total custodian services for everyone that can't afford transaction fees.

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