Wallet Security: The ‘Non-Custodial’ Fallacy \ stacker news ~bitcoin

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Wallet Security: The ‘Non-Custodial’ Fallacy a16zcrypto.com/wallet-security-non-custodial-fallacy/

363 sats \ 15 comments \ @moel 14 Oct 2022 bitcoin

380 sats \ 0 replies \ @l0k1 14 Oct 2022

lol. Proof of Stake not your Validator Keys not your Shares.

Close to zero relevance to bitcoin.

100 sats \ 0 replies \ @petertodd 14 Oct 2022 freebie

Non-custodial wallets do not really put users in full control of their keys. That’s because wallets are typically created by, and operated via, someone else’s software or hardware.

That's not wrong. But our tools or dealing with the trust introduced by that are far better than our tools for dealing with custodian trust.

For example, Bitcoin Core doesn't do auto-updates, and does do deterministic builds, precisely to ensure that each and every release has an opportunity for peer.

And the fact is, far more people have lost money from custodians than backdoors inserted into reputable wallets.

26 sats \ 0 replies \ @0322ee777777 14 Oct 2022

Did not need to click on that link. A16z says it all

11 sats \ 0 replies \ @nerd2ninja 14 Oct 2022

a16z: Lead scammer Crypto: Scams

This title: Misleading as hell

2 sats \ 7 replies \ @iguano 14 Oct 2022

Custodial and non-custodial wallets have their own pros and cos. People who is all against or all pro one of them is just ignoring the needs of everyone else.

0 sats \ 6 replies \ @nerd2ninja 14 Oct 2022

If you want a custodial wallet, use gold. Bitcoin is only useful if you reject custody

1 sat \ 5 replies \ @iguano 14 Oct 2022

I don't think you are in a position to tell me what to use or how to use it. That's the magic of bitcoin. :)

0 sats \ 4 replies \ @nerd2ninja 14 Oct 2022

If you're using custody, you aren't using Bitcoin. This has nothing to do with Bitcoin, but that is the magic of whatever company you're being held hostage by and the magic of SQL

0 sats \ 3 replies \ @iguano 14 Oct 2022

is clear that you don't understand that bitcoin is a network but also an asset. and yes, I can use bitcoin the asset without using the network. no need to try to change my point of view. save that for yourself :)

0 sats \ 2 replies \ @nerd2ninja 14 Oct 2022

Its clear you don't understand the purpose of Bitcoin's existence, the reason why Bitcoin is necessary, and the reason why gold wasn't good enough. But have fun staying poor, getting rekted by rehypothecation, and enabling freebanker freaks.

10 sats \ 1 reply \ @iguano 14 Oct 2022

lol dude, I'm pretty sure I'm richer than you are. you behave like a child. Grow up.

16 sats \ 0 replies \ @Taranis 14 Oct 2022

cringe

reply on another page

0 sats \ 0 replies \ @bitcointerest 15 Oct 2022

Why any person would trust PoS is beyond me. These type of systems can easily be manipulated.

0 sats \ 0 replies \ @faithandcredit 14 Oct 2022

"Not your keys not your bitcoin" is the proper expression and bitcoiners can say this with confidence, but it has been adapted to "not your keys not your crypto" and then there's a multisig bug in parity and hundreds of millions of dollars are lost because for whatever reason "crypto" standards are not as high as bitcoin standards historically.

0 sats \ 0 replies \ @Taranis 14 Oct 2022

bitcoin is you and you are your bitcoin when properly using Bitcoin. few.