gnilma on Nostr: Projects and businesses come and go, protocols are what stay year after year. It ...
Projects and businesses come and go, protocols are what stay year after year. It makes sense to build a flexible, adaptable, decentralized marketplace protocol instead of a rigid app. Build a protocol, release it, open source it, and let the world’s imagination build on top of it. This is exactly what nostr is doing and why nostr is moving so fast and so successful.
If Cory’s thesis of needing to win “the race to avoid the war” is true, we need a LOT more bitcoin adoption. If governments are hostile towards bitcoin, which seems to be the stance many governments are taking, one way to choke off bitcoin adoption is to cut off the on ramps to bitcoin.
KYC exchanges are today’s biggest on ramps. Being centralized businesses, KYC exchanges are easily captured. Not to mention when captured, the user’s personal information collected by KYC exchanges will naturally be capture by governments. If you have coins from KYC exchanges, consider them known to the government.
I have been using non-KYC exchanges for a bit over a year, mainly on Bisq and Robosats. One issue I see with these exchanges are that they are not necessarily newbie friendly. Another issue is that they all seem to have low liquidity, especially smaller currency pairs outside of USD and Euro. If a decentralized marketplace protocol is built, competing clients can coexist, providing different user interfaces and user experiences; at the same time, sharing the same larger liquidity pool.
Therefore, I agree it is an excellent idea to build out a decentralized protocol to on board people to bitcoin. One that does not require KYC and cannot be captured by governments. One that has competing clients, competing for better user interface and user experience, but shares one universal protocol, shares one worldwide order book. If this can be built, it would definitely give us a boost to “the race to avoid the war.”
If Cory’s thesis of needing to win “the race to avoid the war” is true, we need a LOT more bitcoin adoption. If governments are hostile towards bitcoin, which seems to be the stance many governments are taking, one way to choke off bitcoin adoption is to cut off the on ramps to bitcoin.
KYC exchanges are today’s biggest on ramps. Being centralized businesses, KYC exchanges are easily captured. Not to mention when captured, the user’s personal information collected by KYC exchanges will naturally be capture by governments. If you have coins from KYC exchanges, consider them known to the government.
I have been using non-KYC exchanges for a bit over a year, mainly on Bisq and Robosats. One issue I see with these exchanges are that they are not necessarily newbie friendly. Another issue is that they all seem to have low liquidity, especially smaller currency pairs outside of USD and Euro. If a decentralized marketplace protocol is built, competing clients can coexist, providing different user interfaces and user experiences; at the same time, sharing the same larger liquidity pool.
Therefore, I agree it is an excellent idea to build out a decentralized protocol to on board people to bitcoin. One that does not require KYC and cannot be captured by governments. One that has competing clients, competing for better user interface and user experience, but shares one universal protocol, shares one worldwide order book. If this can be built, it would definitely give us a boost to “the race to avoid the war.”