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179 sats \ 9 replies \ @Natalia 3 Dec 2023 freebie \ on: Continuation of "Self-Custody for Everyone": What Are Banks Plotting? bitcoin
I believe these major banks are considering how to navigate the increasing Bitcoin adoption and how to integrate it into their business strategies. I am particularly curious about what such products could look like.
it could be BTC IOU like ETFS, or all the fancy scams they can think of, maybe even safe deposit box for your seeds 😂😂😂
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69 sats \ 8 replies \ @Lederhosen OP 3 Dec 2023
I keep asking myself why buy an ETF when you can have the real deal haha.
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21 sats \ 2 replies \ @TomK 3 Dec 2023
The vast majority of people is ''educated'' to only trust their banksters. The shift to self-custody clearly gets a break with those institutions entering and offering their ''services''. But nevertheless we have it in our hands to grow the peaceful revolution
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0 sats \ 1 reply \ @Lederhosen OP 3 Dec 2023
So sieht es aus, @TomK!
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0 sats \ 0 replies \ @ek 3 Dec 2023
So isses :)
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0 sats \ 0 replies \ @kilianbuhn 3 Dec 2023
Well it isn't made for Bitcoiners 😂 It's made for traders. For people who don't know or understand Bitcoin.
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0 sats \ 3 replies \ @Natalia 3 Dec 2023
I also don't understand - why pay for someone to sit in between when you can just get it yourself and be free from the potential annoyance and drama in the future.
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152 sats \ 2 replies \ @SpaceHodler 3 Dec 2023
To play devil's advocate: contrary to what bitcoiners like to say, self-custody is non-trivial. The recent physical attacks in Sweden attest to that.
It's not just a matter of learning a skill for good, but staying up-to-date on the latest developments, newly discovered vulnerabilities etc. There is no single opinion on what's best, it depends on your circumstances and even for the same circumstances, different people suggest different solutions -- which are all trade-offs after all. You have to find a sweet spot between security and ease-of-use, which again, may only protect you for so long.
The Glacier Protocol, for example, is quite involved, which some would say is a must, while most would say is overkill.
It's no wonder that the average person doesn't want to deal with that. They just want to save in money that doesn't lose value. They don't want to become computer security nerds and live in paranoia. But they just may have to choose between that and staying poor...
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0 sats \ 0 replies \ @0fje0 3 Dec 2023
Very well said. In particular, I think this is often overlooked:
...staying up-to-date on the latest developments, newly discovered vulnerabilities etc.
Self custody isn't a single skill or once-off decision, it's a journey.
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0 sats \ 0 replies \ @NewsnNudes 3 Dec 2023 freebie
word.