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34 sats \ 3 replies \ @0xbitcoiner 26 Mar \ on: Is custodial bitcoin really worth anything? bitcoin
The only value I see is the potential capital gains from a future sale. But this is not taking advantage of the true benefits of Bitcoin.
Right, so it's just speculation.
But if we talk about fedimint (also a situation where you don't have the keys to a utxo) are there any advantages of bitcoin that remain?
Ecash is still digitally native, so there is that. If ecash could prove it's backing or demonstrate strong inflation protections, maybe it could retain the no inflation advantage.
And maybe the censorship resistance can be retained through the privacy guarantees of ecash.
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I just remembered that ETFs can be used in retirement savings plans, and I see an advantage in this application. As for fedimint and ecach, I'm not yet fully convinced, as we have to trust the issuing entity. I'm not sure about ecash, but with fedimint it's not possible to verify the token supply.
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Retirement is an interesting point. However, there aren't any guarantees that IRA and 401k rules will stay the same. I guess that may come down to how far off retirement is.
With fedimint and cashu I think people talk about a system of automated withdrawals (automated bank runs) which are much easier to achieve than real bank runs exerting a pressure on mints to stay honest. But it's not as certain as bitcoin's halving schedule, that's for sure.
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