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198 sats \ 5 replies \ @nicosey 26 Nov 2023 \ on: If we can't have custodians then it is better to abandon Lightning entirely bitcoin
Nothing stopping collaborative custody between users. Still not illegal for me to shares my funds with my neighbour. Need to make sure I trust him though :)
Also another aspect that many ignore: govs are accusing these bitcoin custodians of "running a business without a license for money transferring".
But what is Bitcoin in govs perspective (not in plebs perspective)? An asset, a security, an investment etc. So why then is considered "money"?
Even if they will consider it money, their laws about "money transferring" refer only to legal tender. Legal tender have way another definition.
If they would try to put Bitcoin inside the "money transfer" law, then anything else could be considered money, even shells, rocks, nails, bricks etc...
That means banning all trades.
I wonder when this stupidity will be taken into a court and shame the govs for this idiocy.
BTW, I don't give a shit about what govs says and do, I just use Bitcoin as I please. They have no power over my own money as a living man (not a shitizen).
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I think that the outcome is like David vs Goliat, but Goliat is a smoke screen. You have a branch of the goverment bulling you, if you want to confront them, you need to spend time and value as a one person effort, in the other said they just hope that this don't goes any further because as you said "That means banning all trades". Rule by fear, the state mantra.
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Rule by fear, the state mantra.
Damn right!
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eCash mints are looking a lot more attractive now as a custody option
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