hugohanoi on Nostr: Part of the infatuation with Bitcoin vaults is believing that you can “have your ...
Part of the infatuation with Bitcoin vaults is believing that you can “have your cake and eat it too”: mixing spending with saving.
In reality, people don’t give a shit what they use for spending (e.g., they’ll move USDT on Tron if it’s convenient). They only care about security for generational wealth.
You can observe this behavior empirically: when people pick a payment solution, their #1 priority is convenience—“I just want to pay, and pay fast.” That’s why PayPal, custodial LN, and USDT dominate. But for savings, it’s all about preserving purchasing power and security.
So at its core, the “problem” vaults try to solve is mixing high-time preference usage with low-time preference usage.
And you end up with these Frankenstein setups that are suboptimal for both spending AND saving.
In reality, people don’t give a shit what they use for spending (e.g., they’ll move USDT on Tron if it’s convenient). They only care about security for generational wealth.
You can observe this behavior empirically: when people pick a payment solution, their #1 priority is convenience—“I just want to pay, and pay fast.” That’s why PayPal, custodial LN, and USDT dominate. But for savings, it’s all about preserving purchasing power and security.
So at its core, the “problem” vaults try to solve is mixing high-time preference usage with low-time preference usage.
And you end up with these Frankenstein setups that are suboptimal for both spending AND saving.