[justajot]

Yeah, it's definitely not ready. I agree with everything you are saying.

Though, the industry is aware of this and working on it. There is at least one company (Chia Network) where the on-chain language (ChiaLisp) is both capable and secure enough to allow for the sort of management needed to allow for self-custody to happen in a safe, sane manner. GUIs for this sort of thing aren't ready for the general public yet, but are definitely on the way.

[loveparade]

Solutions have been on the way for more than five years, but literally nothing has changed and all we've gotten is pyramid schemes and gambling. Chains and protocols have exploded in complexity and technical debt to the point where nobody fully understands the attack vectors. By now I am convinced that anything beyond pyramid schemes is never going to happen.

[justajot]

It's frustrating, I agree. People are obviously going to continue being people with pyramid schemes and the like. At the same time, there are enough who also agree that it's a mess, have closely studied the successes and mistakes of the past, and are building a solid foundation for doing this right. I mean, what we're really talking about here is creating a fundamentally new system for which the financial system operates upon ... it's going to take time ... longer than five years. And the progress that I've seen thus far is encouraging.

[danuker]

Do you also consider Bitcoin a pyramid scheme?

[Quiark]

What's the name of the function in ChiaLisp that returns true if this is an illegitimate transaction initiated by a hacker and false if it's being done by the real owner of the funds?

[FireBeyond]

> where the on-chain language (ChiaLisp)

So all you need to do then is learn a Lisp? That sounds worth the effort for most non-tech people...

[lottin]

It isn't a software problem.

[justajot]

What is it?