Dive into the crucial topic of custody in the Bitcoin realm. Explore how political manipulation has distorted the meaning of key terms, weakening individual sovereignty. The discussion highlights the emergence of new layer 2 systems and questions whether innovation comes at the cost of clarity. Can we protect non-custodial solutions in an environment rife with confusion? The conversation urges a reevaluation of definitions to ensure user freedom and avoids the pitfalls of ambiguity.
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insights INSIGHT
Custody Definition Erosion
Broadening the definition of custody in Bitcoin risks inviting regulations that could ban non-custodial solutions.
Overly zealous protocols are driving this broadening, not regulators.
question_answer ANECDOTE
Shopping Mall Analogy
Nicholas Dorier uses a shopping mall analogy to illustrate custody.
If you can't access your money without someone else's permission, they are a custodian.
insights INSIGHT
Unilateral Exit and Custody
Unilateral exit is synonymous with non-custody.
If you don't have unilateral exit to the chain, it is custodial.
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Nicholas Dorier brings us a short piece that is very relevant to many of our challenges today, being clear and precise about the definition of the word custody. As we have seen for decades, the political sphere is almost designed to destroy and confuse the definition of words for the explicit purpose of broadening power, and creating enemies and criminals of anyone who gets in their way. But an even greater dilution of the term has come from within, as new "layer 2" systems compete to be seen as the next major leap forward. Are they really, or are we losing a key definition that could bring more consequences than we may admit...? Let's dig into it.
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"The beginning of wisdom is the definition of terms." — Socrates
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