Imagine thinking people actually want self-custody. Look around, people want centralization. The fringes who constantly parrot “not your wallet, not your coins” will forever be in the minority as mom and pop don’t trust themselves to any kind of cold storage.
Crypto-obsessed will forever live in this fantasy world.
> Billions of dollars worth of assets are stored on blockchains.
There is no mathematical proof that they will be worth billions of dollars tomorrow. I mean, I would wager if the original Satoshi wallets wake up and start selling Bitcoin this time tomorrow the total market cap can be counted in millions.
Sure, maybe mathematically there will never be more than X tokens, but no one cares about that. Everyone at the end of the day cares about what they can trade one token for. Otherwise, it's worth less than monopoly money or Chuck-E-Cheese tokens.
>People have successfully avoided fraud, theft, and the tyrannical seizure of their assets by arbitrary decisions of arbitrary government officials.
Tomorrow morning, the US government announces that any US citizen in possession of cryptocurrency is committing a crime. Using it in a transaction is an even bigger crime.
What happens to the value of crypto?
Your faux-decentralized currency is valuable only inasmuch as it can be used. It is just as much at the mercy of 'arbitrary decisions of arbitrary government 'officials'.
How do you think any of these companies and protocols even exist? They sure as hell don't have enough regulatory clarity to be confident they can operate as US entities right now. Vast majority of true defi protocols were funded by companies formed outside the US because the country has essentially criminalized it by refusing to put into law what you need to do to be compliant.
