This was a great read! I actually just wrote a 101 piece for non-bitcoiners, but didn’t include anything on the ‘how’ to buy and store. Your idea here is compelling if it can take hold. I have non-technical friends and family who, until now, can’t be bothered to own bitcoin on their own keys. Most of them also see it as a convenience to own the ETF because of tax reporting. Increasingly, this will be tough to get around, as the infrastructure for owning a security is so much better established. I even have one very capable friend who sold all his bitcoin from cold storage to buy IBIT. He didn’t care about the self-sovereign argument; did it for tax purposes, and because he wanted to get a yield from lending his ETF shares.
Hey Russ, thanks for taking the time to share your thoughts! There's a big gap between self-sovereign self-custody and ETF/BTC Treasury Cos, one that very few companies are addressing. I'd really enjoy having a conversation if you're up for it. I think you'll find what we do at Onramp interesting.
I’d love to chat. This would also be valuable to me as I launched www.Sov21.com a few weeks ago and am working with a first client. Bizarrely coincidental, but someone just sent me some info on Acropolis yesterday, as I’m building something similar here in Hong Kong; I noticed that they are working with Onramp.
I’m in Japan at the moment but perhaps we can find a time middle or end of next week? Your afternoon/my morning is probably easiest.
The thesis is very sound Jack. I would like to understand how the ideas here manifest into actual infrastructure solutions and I think you are on to something here.
Thank you! Right now there are not many businesses focused on building the infrastructure needed to scale Bitcoin native financial services. Onramp pioneered multi-institution custody and I expect that other firms are working on this as well. https://www.onrampbitcoin.com/
So, scalable ownership is going to require multi-institutional trust to play? sounds a little like a slippery slope to any decentralized sovereinty to me...
Of course, I'm likely wrong reading it that way... I hope someone helps me out!!
Yes, I understand your point of view. While there will always be the option to use Bitcoin in a self-sovereign way, most will choose not to. And if there are no BTC native solutions that meet people where they are at, then most BTC will end up in financial products.
I am bullish on multi-institution custody because it paves the way to real Bitcoin ownership without every person (and their family or business) needing to be technical experts at managing keys.
This was a great read! I actually just wrote a 101 piece for non-bitcoiners, but didn’t include anything on the ‘how’ to buy and store. Your idea here is compelling if it can take hold. I have non-technical friends and family who, until now, can’t be bothered to own bitcoin on their own keys. Most of them also see it as a convenience to own the ETF because of tax reporting. Increasingly, this will be tough to get around, as the infrastructure for owning a security is so much better established. I even have one very capable friend who sold all his bitcoin from cold storage to buy IBIT. He didn’t care about the self-sovereign argument; did it for tax purposes, and because he wanted to get a yield from lending his ETF shares.
Hey Russ, thanks for taking the time to share your thoughts! There's a big gap between self-sovereign self-custody and ETF/BTC Treasury Cos, one that very few companies are addressing. I'd really enjoy having a conversation if you're up for it. I think you'll find what we do at Onramp interesting.
I’d love to chat. This would also be valuable to me as I launched www.Sov21.com a few weeks ago and am working with a first client. Bizarrely coincidental, but someone just sent me some info on Acropolis yesterday, as I’m building something similar here in Hong Kong; I noticed that they are working with Onramp.
I’m in Japan at the moment but perhaps we can find a time middle or end of next week? Your afternoon/my morning is probably easiest.
The thesis is very sound Jack. I would like to understand how the ideas here manifest into actual infrastructure solutions and I think you are on to something here.
Thank you! Right now there are not many businesses focused on building the infrastructure needed to scale Bitcoin native financial services. Onramp pioneered multi-institution custody and I expect that other firms are working on this as well. https://www.onrampbitcoin.com/
Right. So there is a initial build of such infrastructure with Onramp at least. I will check it out.
So, scalable ownership is going to require multi-institutional trust to play? sounds a little like a slippery slope to any decentralized sovereinty to me...
Of course, I'm likely wrong reading it that way... I hope someone helps me out!!
Yes, I understand your point of view. While there will always be the option to use Bitcoin in a self-sovereign way, most will choose not to. And if there are no BTC native solutions that meet people where they are at, then most BTC will end up in financial products.
I am bullish on multi-institution custody because it paves the way to real Bitcoin ownership without every person (and their family or business) needing to be technical experts at managing keys.