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245 sats \ 4 replies \ @kepford 22 Jul \ on: OnRamp guy says self-custody is the reason mass adoption hasn't happened bitcoin
What is meant by "mass adoption"? I don't see the masses using self-custody. Most people refuse to manage their passwords in any type of sane way. They are lazy. The reason the ETFs appeal to people is the easy. ETFs are not simple. They are complex. Tons of risk but they are easy. Bitcoin is secure and has so many properties we will need. People do not see the need. They don't understand bitcoin, but they don't even understand that they need it. They will. Its a matter of time. But most are far to lazy to "adopt" bitcoin and they will never adopt it for the reasons most of us have.
That's a pipe dream that needs to be accepted.
I would say that also we (at least in upper middle class USA) have been conditioned to not feel comfortable with self-custody.
Like I have some amount of bitcoin and a small amount of precious metals, and outside of that, most of my assets are in financial institutions. Before I had bitcoin, basically everything I had of value was in a bank or brokerage account. It's frankly weird as hell being in physical custody of precious metals, especially when I think about / hear about robberies. It's also weird having bitcoin off an exchange - I prefer it, but it's still weird thinking that I could screw up and lose it without insurance or protection. (I'm particularly paranoid I suppose because as a kid I would always lose my coats and stuff somehow, but now I'm a lot more careful)
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I would say that also we (at least in upper middle class USA) have been conditioned to not feel comfortable with self-custody.
Yes! I 100% agree. I'd go further. We are conditioned to be weak and largely helpless in many areas. You have to fight against this actively.
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