51 sats \ 1 reply \ @TheBTCManual 29 Feb \ on: POLL: At what BTC price does self-custody get scary? bitcoin
Depends on a bunch of factors if you're reasonably technically sound, maybe the relative purchasing power isn't much of a factor, but then it can become more of a social problem.
For example, let's say you have 1 BTC and you're in a country like mine where 100k puts you in the top 10% of wealth or close to it, you become a walking ATM. Home invasions are the norm and there's no chance of police services or the government coming to save you, you're on your own.
I guess you can distribute your coins/keys but that might secure your funds, but not your safety or your life..I've had 2 friends murdered for way less, so you need to factor in how much your life is worth in a way.
The other option is to trim your position and either increase your home safety, add private security, or move to an area that might see a lower chance of attack, better rule of law/enforcement, and that adds to your cost of self-custody indirectly
Moving sounds like the best option there.
I was kinda surprised by how often buglary, violence came up in response to this question. I still have the feeling that most of the population doesn't pay attention to bitcoin. As in they wouldn't know how to use a hardware wallet. However, the very real threat of burglars makes me realize something: criminals are always cutting edge.
Hope you find somewhere (or someway) safe to live.
reply