This is an abysmal compromise and basically implies that bitcoin is going to re-create the conventional banking system by merit of being difficult to use/transport like gold.
We have this custodial system on top of bitcoin/gold, and that gives rise to double spending in the form of fractional-reserve banking which bitcoin was supposed to combat in the first place. At this point, just give up?
This is an abysmal compromise and basically implies that bitcoin is going to re-create the conventional banking system by merit of being difficult to use/transport like gold.
We have this custodial system on top of bitcoin/gold, and that gives rise to double spending in the form of fractional-reserve banking which bitcoin was supposed to combat in the first place. At this point, just give up?