Sure, there is always trade-offs and I think that is fine. A layer 2 or 3 does not need to have the same decentralization and security guarantees as the base chain. I even think custodial solutions are eventually fine for everyday purposes. I don't care if I have a few sats for groceries on a normal bank account in the future.

You are so funny, almost feel sorry for you man ;D You sound like and probably are a 30y+ virgin who has nothing in life except a few bitcoin in cold storage to be proud of.

Don’t know what’s your feed in tariff, but under most circumstances you can amortize a miner in 1-2 years with a solar panel

You are easily scared it seems

I think what @joda means that you have a single point of failure here. In order to transact, you need to sign with this wallet and however you do it, in this process malware can extract the private key from your wallet. Having hardware signing devices mitigates this attack vector to a huge extent. You of course open a new attack vector by trusting the manfacturer, therefore, you should use devices from at least two different ones in a multisig.

literally your title, with dying empire you imply imminent death but let's not get into linguistic intricacies. i think you understand me

I would not declare America dead. The USA has good demographics and if there is a shift in politics back towards original American values of freedom and free markets, such a system will always dominate those autocratic shit shows called Russia or China. Maybe the USA will not adopt bitcoin as reserve currency tomorrow but I see a possibility for a gold standard (that might open the backdoor for a bitcoin standard later on) which would already be a huge thing.

The Roman empire also bounced back after the crisis of the third century and even later Justinian was close to reconstituting the old empire. The real world is messy and nothing is set in stone.

Thank you all very much for your votes and replies with your opinions. Given the feedback I will think again whether I am going to spend time on implementing this.

Have a nice Sunday all!

Finally something ordinals are good for hahaha

Thank you, wasn’t aware of it! Will check it out. I think the BTC-BTC use case is simply just not that much on the radar atm since, without capital gains tax, it would make no sense at all ^^ taxes are really just distorting the market here a lot and which makes the otherwise irrational BTC-BTC case rational

What is wrong with you dude ^^ you seem to have some issues

Nice thinking! Will be pondering that a bit!

Yes, that’s basically the idea. I already know that some centralized services are exactly doing that precisely because it seems to be a possibility for now. Of course may vary by jurisdiction. In any case, even with centralized services some people choose to take out BTC since their target investment will be done in BTC. And they nice thing about BTC only would be that it could be done completely on-chain and trustless.

Haha, alright, granted ^^

It’s a fact, not a mindset. If you want to invest your BTC into some business, you have a taxable event and in turn reduce your amount of BTC.

what do you mean? that people will not use such a service because the like paying taxes? taking a loan is a completely accepted and legal way to not pay taxes on capital gains.

I think it would be possible with USDT on Liquid and a cross chain swap, however, my proposal above is something different. You would borrow bitcoin against bitcoin. This can be done purely onchain and in a trustless manner.

As far as I can tell, there you can only borrow other cryptocurrencies against bitcoin, not bitcoin vs. bitcoin. Therefore you also have an LTV and the lender has a default risk. Furthermore, you are dealing with other shitcoin chains.

What I describe above is pure bitcoin on-chain (and potentially lightning at a later stage). Bitcoin vs. bitcoin with the goal of deferring any capital gains tax to keep optimal compounding. There is no default risk, the interest rates would be likely much lower and everything is just relying on the security of the bitcoin blockchain and nothing else.

Hi @BoJack (nice series)

I'd recommend something Debian based like Ubuntu. It's very beginner friendly yet grows with you as you learn. It's perhaps not the 'purest' Linux distro out there but if you start with one of those you might get discouraged to continue which would be a pity. Furthermore, Ubuntu has a large community and therefore many questions that you might have should be answered somewhere online.

Congrats on taking the step