Not all paper bitcoin is the same.
LBTC > wBTC > Centralized exchanges == cbBTC > ETFs > Stocks
At least with centralized exchanges, IOUs can be redeemed for real UTXOs.
The so-called "bitcoiners" shilling stocks as being viable scaling solutions should be viewed as scammers.
@alpacasw Ideally, a "paper bitcoin scaling solution" should be:
-redeemable
-P2P
-private
-no KYC, no AML
-no freeze function, no confiscate function
-coins are held with a reputable custodian with proper bankruptcy protections
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