Your regular reminder that this network topology is virtually identical to that of the legacy fiat system https://twitter.com/xentagz/status/998937078367948800 …
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*the legacy fiat system which is composed of 100s of different currencies all of which are seizable and printable at the whims of the those in power. Besides highlighting the friction of fiat to fiat exchange, what was the point of this comparison, Kyle?
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Why is centralization above base layer fine?
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I'd say "non-custodial" is the key factor for layer-2 solutions. Non-custodial legacy digital financial systems don't exist.
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Those factors that you listed that you think are the problems are from the network topology itself https://en.wikipedia.org/wiki/Network_theory …
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That’s not true. Gold unfortunately no longer serves a counter balance to govs and banks. Gold is highly censorable. Bitcoin can not be censored in the same way.
End of conversation
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