34 sats \ 1 reply \ @BlueSlime 29 Feb \ on: POLL: At what BTC price does self-custody get scary? bitcoin
The scariness is overblown IMO. You just have to remember 12-24 words, or some obscure phrase, and you can convert that into an infinite number of keys.
What can be scary is someone stealing your coins. A good hardware device and proper backup removes this threat 99%. You can protect millions in wealth and should be okay.
When you get to the point of having a trust or corporate treasury, then you may need a basic multi-sig with key rotation, or a vault.
When you have enough wealth that state actors want to give you the gadaffi special, then you should use a vault controlled by a federation of signers.
What is surprising to me is that the user experience for vaults and multi-sig watch towers are still not great.
Multisig is so close to being easy to use. I've been meaning to spend a bit of time looming into Nunchuck, maybe this gets me moving.
Sparrow already does an okay job with the multisig user experience and blue wallet has that functionality (although I haven't used it in a while).
Psbts are incredible. Multisig will be the standard for any kind of cold storage before long.
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