"Ofcourse there are still other ways to stack sats, but I don’t have any experience with them. I might check them out some day…"
Then I don't think you have a good enough of the big picture to really say "it's fine".
Let me paint you a picture instead.
If exchanges were built on a Bitcoin standard, they would remain sovereign - Services offered to users regardless of who they are, where they are. I mean, the fact that Relai only added Bitcoin to their balance sheet recently, should've been a clear sign.
If exchanges are not built on a Bitcoin standard, they're inherently discriminatory when you put them side by side with the ethos of Bitcoin and what it allows - P2P Global transactions.
So Bitcoin comes along, allows for this fundamental shift, and yet these exchanges come in and decide "let's do what we've been doing for the past however many decades instead". The clear reason is high stakes in the fiat game.
The exchanges that WILL survive long-term will be P2P exchanges with open source code that are permissionless and no one can stop.
Because they're fully open, could bad actors take advantage and host their own exchange? Absolutely, and is exactly why would-be GOOD actors should be at the forefront of offering such services and making a name for themselves via reputation.
If Relai or any other KYC exchange translated the time and energy they dispense into the fiat world, into PoW for the best damn UX in the P2P market, they'd be gold.
This is why Peach is a close-contender - Unfortunately their backend isn't open, but the fact they're fully P2P ensures their longevity and sovereignty to operate their service with a damn good UX.
Personally, I see Robosats eventually taking the cake due to decentralized coordinators.
Uxellodunum
npub14u…tgg48
2024-07-12 09:45:41
in reply to nevent1q…kcs2
Author Public Key
npub14un6d98pa48kleqjjqfe5jqekxpdcwd7lkwc2hm3s2z4gmd60j8sstgg48Published at
2024-07-12 09:45:41Event JSON
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"content": "\"Ofcourse there are still other ways to stack sats, but I don’t have any experience with them. I might check them out some day…\" \n\nThen I don't think you have a good enough of the big picture to really say \"it's fine\". \nLet me paint you a picture instead. \nIf exchanges were built on a Bitcoin standard, they would remain sovereign - Services offered to users regardless of who they are, where they are. I mean, the fact that Relai only added Bitcoin to their balance sheet recently, should've been a clear sign. \nIf exchanges are not built on a Bitcoin standard, they're inherently discriminatory when you put them side by side with the ethos of Bitcoin and what it allows - P2P Global transactions. \n\nSo Bitcoin comes along, allows for this fundamental shift, and yet these exchanges come in and decide \"let's do what we've been doing for the past however many decades instead\". The clear reason is high stakes in the fiat game. \nThe exchanges that WILL survive long-term will be P2P exchanges with open source code that are permissionless and no one can stop.\nBecause they're fully open, could bad actors take advantage and host their own exchange? Absolutely, and is exactly why would-be GOOD actors should be at the forefront of offering such services and making a name for themselves via reputation. \nIf Relai or any other KYC exchange translated the time and energy they dispense into the fiat world, into PoW for the best damn UX in the P2P market, they'd be gold.\n\nThis is why Peach is a close-contender - Unfortunately their backend isn't open, but the fact they're fully P2P ensures their longevity and sovereignty to operate their service with a damn good UX. \nPersonally, I see Robosats eventually taking the cake due to decentralized coordinators.",
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