10 sats \ 2 replies \ @thebitcoinbugle 4 Apr \ parent \ on: I'm Dhruv Bansal, co-founder of Unchained, AMA! AMA
Yeah that makes sense. Thanks for your thoughtful responses.
If Bitcoin becomes captured because of regulated companies dominating the off and on ramps, as well as general development of products that are captured, what do you think the future looks like for humanity and how is your company trying to prevent that?
As a company, Unchained is centralized. But our clients can leave our platform at any time, we can't stop them, they have their own private keys and open source wallets exist (some of which we've written!) that let them pull all their bitcoin out with a single tx.
If this were true generically of all financial service providers I think the culture of finance and banking would be very different. Companies would, like Unchained does, be forced to create value and make their clients very happy in order to retain them.
Also, long-term, I don't know how important on and off ramps are...what are we moving on and off in 2060? Dollars? I don't know how relevant those will be at the time! Maybe people just stay within bitcoin by then :)
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I would like dollars to be not that relevant, but the push towards stablecoins that's happening right now have the possibility to really prolong their relevance.
I think we are really in an Atlas Shrugged moment where the state will be come so intrusive that the only option is for the system to collapse.
"As a company, Unchained is centralized. But our clients can leave our platform at any time, we can't stop them, they have their own private keys and open source wallets exist (some of which we've written!) that let them pull all their bitcoin out with a single tx."
I guess the only hope is that incentives will prevail.
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