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102 sats \ 3 replies \ @SimpleStacker 2 Oct \ on: Self-Custody Found Dead in Miami Condo - bluematt bitcoin
I'm a bit more optimistic than this.
I think the option to do self custody can itself have very powerful constraining effects on intermediaries, even if very few people use self custody: #1030571
This only works though if people are at least aware of self custody, and if it's not too difficult to do self custody. So we need to keep developing self custody tech.
To me, the tricky question is how we can fund self-custody development when that's gonna be a minority option which isn't well compensated in the marketplace.
2 main solutions:
-- attack existing exchanges and custodians
-- start exchanges and custody services with fake credentials and nice UI/Ux and exit scam users.
that will motivate self custody.
since many bad actors will continue to do this as long as we have big centralized exchanges and custodians, I have zero worries about the long term widespread and somewhat default adoption of self custody.
the only other thing is to keep it cheap enough to transact self sovereign, that is a technical and engineering issue but I think we are doing well enough there also.
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since many bad actors will continue to do this as long as we have big centralized exchanges and custodians, I have zero worries about the long term widespread and somewhat default adoption of self custody.
Bitcoin really is for enemies! This is a very interesting way of thinking about it. A
Is the friction of Bitcoin's self custody UX a feedback loop that promotes...self custody?
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The problem with optionality is that if it's not used then over time it can disappear within notice.
I can't imagine that happening in bitcoin, but it might happen without the mainstream noticing, even after a bitcoin standard.
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