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@ supermass
2025-05-05 13:58:49
Bitcoin at any layer requires the keys to be held by the user to initiate a transaction.
No keys, no transaction, no exceptions.
A third-party can hold the keys for you and design some sort of credit instrument on top but it will always be obfuscating the reality that you have given up the keys and any sense of control.
Which means it becomes no different than fiat credit.
Fiat credit is much, much safer and more manageable because there is a lender of last resort to bail out the system in the event of a credit crunch.