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268 sats \ 4 replies \ @mattcrv OP 29 Feb \ parent \ on: Would you trust a wallet that DOESN'T allow you to back up your seed phrase? bitcoin
Yeah, I remember reading this months ago, and I agree with most of Zach's points.
But it feels unfair to criticize Bitkey for surveilling all of their users' transactions considering that's intrinsic to any collaborative custody solution (even if people use Passport as their main HW).
Also, it's also unfair to say "Bitkey is bad for Bitcoin – it represents an attack on the very idea of a hardware wallet". Bitkey is not perfect and I personally wouldn't feel comfortable using it as my main wallet, but it's understandable because they're not trying to compete with existing HWs. Bitkey is making these tradeoffs to get people to withdraw from exchanges. And even with all the compromises, using Bitkey is still much better than not taking self-custody at all.
For me personally all hardware wallets are useless. Just a hype marketing.
I had in the past Trezor, Ledger, Coldcard and give them away to noobs.
I don't need a HW.
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I know. That's why I do not say that everybody should do like me.
If you are not comfortable with running software or doing other stuff, just use a HW.
Fine for me. More sats for me.
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Completely agree with you. I have people in my life, some young, some old that aren’t tech savy enough and I’m going to onboard them to bitkey vs keeping their funds on Muun wallet. Self custody will have its levels and bitkey is much better than keeping funds on an exchanges. Some people I’ve been able to setup on cold cards but not everyone is ready for it.
Ultimately I see bitkey as a positive for bitcoin.
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