pull down to refresh
32 sats \ 5 replies \ @0xbitcoiner 18 Jun \ parent \ on: Stacker Saloon
🌞☕
https://m.stacker.news/35869
Last night I read about someone being robbed at home of their bitcoin recently and now things like this seem a bit silly.
reply
How many have you read about being robbed by exchanges?
reply
Quite a few, but at least in that scenario you don't have to worry about losing your own life or those of loved ones. The cartoon shows a loved one being handed over to an exchange, which is nearly the polar opposite of what you're actually risking there. I'm all for self-custody, but to not recognize the tradeoffs is asinine.
reply
Home invasion robbery happens every day in the U.S. The fact that one was robbed at home for bitcoin is not a function of self-custody. It is a function of other security failures. Hell, your more likely to be robbed at home by someone who got your information through KYC information loss through an exchange getting hacked.
reply
Fair point, but most people don't store their lifesavings at home though. So self-custody increases the harm of home invasion. Draconian KYC laws are a separate issue. You can still have someone custody something for you without them knowing all of your personal info. Many non-KYC custodians might be more secure than having all of your eggs in one basket, so-to-speak.
reply