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  "map_content": "If you think you are a \"Bitcoiner\", note....\r\n1. Five TPS means nothing settles instantly on-chain.\r\nEvery transaction still has to be included in a block by a miner to actually settle. At ~5 TPS you can\u2019t give every merchant an on-chain receipt that\u2019s final and cheap \u2014 blocks are the bottleneck.\r\n2. So the UX workaround is custody + batching.\r\nSquare (or any payment processor) accepts customer payments, credits internal accounts, and only occasionally posts a single on-chain transaction that batches hundreds or thousands of user movements. That gives instant UX but it\u2019s not on-chain ownership \u2014 it\u2019s a ledger entry inside Square.\r\n3. Batching + custody = opportunity for fractional reserve.\r\nIf Square doesn\u2019t keep every customer\u2019s coins in provable cold storage at all times and instead relies on pooled liquidity, they can operate with far less than 100% backing. That is classic fractional reserve behaviour dressed up in app form.\r\n4. That destroys the property claim.\r\nUsers think they \u201chave Bitcoin.\u201d They don\u2019t. They hold an IOU on a centralized database. When the system chooses to pause withdrawals, reprice fees, or comply with AML rules, that \u201cBitcoin\u201d disappears from the user\u2019s control.\r\n5. Regulation and AML push the model further toward custodial KYC.\r\nTravel-rules, AMLR, exchanges and PSPs will be forced into customer identification and constrained settlement windows \u2014 entrenching custody, not decentralised self-custody.\r\n6. The only honest alternatives are:\r\nReal on-chain scaling \u2014 raise block capacity and throughput so ordinary payments can actually settle on the base layer (no middleman). That means miners, larger blocks, real bandwidth and storage tradeoffs \u2014 not Twitter product launches.",
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  "timestamp": "2025-11-11T14:23:11.000Z",
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