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The next frontier: Custody will be permanently solved with OP_CHECKTEMPLATEVERIFY and sub-dermal (injectible) NFC wallets

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The next frontier: Custody will be permanently solved with OP_CHECKTEMPLATEVERIFY and sub-dermal (injectible) NFC wallets

https://preview.redd.it/euyk2jby2xe81.jpg?1200&format=pjpg&auto=webp&s=c09ff1c3459df2c6da180a497db77f862d1e7fcc

  • Imagine a government or bad actor unable to seize your funds even if they have your private key.
  • Imagine losing your private key or dying, and after 365 days (or whatever time lock you set) of not using your wallet, your funds arrive in your wife’s wallet, in your business wallet, in a charity’s wallet, in a decentralized probate wallet governed by a probate DAO
  • Imagine never losing your hardware wallet because there’s one the size of a splinter implanted in each of your hands
  • Imagine transacting on the LN by waving your hand without the need of an internet connection
  • Imagine your private keys air-gapped and never touching the internet
  • Imagine non-custodial borrowing and lending enabled by simple Taproot smart contracts and multi-sig

https://preview.redd.it/wck7vbhu2xe81.jpg?1024&format=pjpg&auto=webp&s=16d9c8138f8b71a77e51ec513802ba7370834fa3

Right now custody is disordered. It’s one of the last major friction points. It’s not a big deal yet, but years in the future, solving the self-custody problem (non-custodialy) will be important for when Bitcoin reaches its transactional epoch, where it becomes a dominant global currency, on top of being a store of value, and builds its way towards a vertically integrated complete economic system. Hard wallet manufacturing will go through let’s say...some changes. Your Coldcard and Ledger will eventually come inside a syringe. None of that 666 mark of the beast nonsense your in-laws talk about either, because this is decentralized, and demonetizing to any erstwhile hegemons, like Big Brothers. Talk about flipping the script.

https://preview.redd.it/p88d1kqj4xe81.jpg?1920&format=pjpg&auto=webp&s=8a9eed5622b4328c57897f446b514647e5e56a84

I see [invisible] injectables like this becoming more commonplace than tattoos and ear piercings. There just haven't been any use cases for it to flower, but bitcoin will deliver a compelling one, because besides bitcoin itself being decentralized, which becomes more robust and hardened the larger it grows, decentralization at-large will naturally build around a global stateless money. Centralized platforms looking to exploit injectables (like Facebook hiding behind the name Meta) will be at an extreme disadvantage (regulation, the nature of trust, competing platforms which use distributed systems, bitcoin establishing itself as money, etcetera).

If a reputable company like CoinKite (of Coldcard fame) or Trezor (of Model T fame) tomorrow authored a tweet promoting an injectable bitcoin product, they'd get a queue of buyers that looked like a pilgrimage to Mecca. I'd put one for spending in my right hand, one for saving in my left, then a clone of both in my ass.

Edit: I notice a bunch of unnecessary fear in the comment section. I'd like to add this: getting splintered with an untraceable NFC-enabled hard wallet that isn't connected to the internet and leverages a decentralized payment network is an act of sovereignty. It solves the self-custody problem. A typical NFC lasts for 100,000 scans. The average human lifespan is 27,000 days. So it's a onetime thing assuming firmware is upgradeable wirelessly. It's a far better solution than carrying a GPS-enabled phone everywhere you go which is perpetually connected to the internet, can record you, has spyware, malware, email tracking, is manufactured by a government regulated company, and carries your coins on a fenced centralized exchange app...I'm just sayin'

submitted by /u/Mallardshead
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