I kept thinking about whether the eligibility status of my wallet at @Dusk is something that stays fixed.
At first, I pictured it like a card. I checked it once, received the card, and then just kept using it.
So why could that card become invalid without me doing anything?
Turns out the condition isn’t about me. It’s in a set of external rules — place of residence, restricted lists, country investment thresholds, and even whether a new regulation comes into effect. I stay still, but the world around me changes, and my status changes with it.
And that’s where I keep tripping up.
I thought of certification as a property of the wallet. In reality, it’s a time-limited claim issued by some other party, for a specific point in time. Like any other information, it grows old over time.
So the assets in my wallet can become non-transferable, not because the assets themselves changed, but because the certification behind them has expired.
This creates a kind of risk crypto isn’t used to: illiquidity risk caused by paperwork. It’s not that there aren’t buyers, and it’s not that the market collapses. It’s simply that some authorization needs to be renewed, and while you’re waiting, you have to stand still.
That part still feels backwards.
For people who are used to the idea that assets on-chain belong to them unconditionally, this is the hardest pill to swallow in the entire model $DUSK — ownership remains, but the ability to use it depends on another party that you can’t control.
#dusk $BTC $ETH
At first, I pictured it like a card. I checked it once, received the card, and then just kept using it.
So why could that card become invalid without me doing anything?
Turns out the condition isn’t about me. It’s in a set of external rules — place of residence, restricted lists, country investment thresholds, and even whether a new regulation comes into effect. I stay still, but the world around me changes, and my status changes with it.
And that’s where I keep tripping up.
I thought of certification as a property of the wallet. In reality, it’s a time-limited claim issued by some other party, for a specific point in time. Like any other information, it grows old over time.
So the assets in my wallet can become non-transferable, not because the assets themselves changed, but because the certification behind them has expired.
This creates a kind of risk crypto isn’t used to: illiquidity risk caused by paperwork. It’s not that there aren’t buyers, and it’s not that the market collapses. It’s simply that some authorization needs to be renewed, and while you’re waiting, you have to stand still.
That part still feels backwards.
For people who are used to the idea that assets on-chain belong to them unconditionally, this is the hardest pill to swallow in the entire model $DUSK — ownership remains, but the ability to use it depends on another party that you can’t control.
#dusk $BTC $ETH
