Cos it’s still custodial, just much less bad type of custodial. You’re not transacting sats, but sats IOUs.
Conceptually just like fiat started out, which worked ok until the rugpulls.
That said, the people working on bitcoin ecash are smart, realistic, know its weaknesses and are working to mitigate them.
I think Calle had an idea for provable reserves, which would eliminate the creeping fractional reserve risk.
owenkemeys /
npub12mr…7lhy
2023-04-20 23:20:19
in reply to nevent1q…mjkc
Author Public Key
npub12mrttck9xhlr86z8sqfxs3c65yxqdrnd09hmq7kadn6ampsj2p7sfv7lhyPublished at
2023-04-20 23:20:19Event JSON
{
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"pubkey": "56c6b5e2c535fe33e847801268471aa10c068e6d796fb07add6cf5dd8612507d",
"created_at": 1682025619,
"kind": 1,
"tags": [
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],
[
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],
"content": "Cos it’s still custodial, just much less bad type of custodial. You’re not transacting sats, but sats IOUs.\nConceptually just like fiat started out, which worked ok until the rugpulls.\nThat said, the people working on bitcoin ecash are smart, realistic, know its weaknesses and are working to mitigate them.\nI think Calle had an idea for provable reserves, which would eliminate the creeping fractional reserve risk. ",
"sig": "605bba1aca7f82a5fa017a6288c4156d213e19aa32939c8729e2acf19cbb909d58c459ab80c954c0dcde8909754626b617878909af7a7dabae102441693ed5d1"
}