No that's not me... that's Satoshi Nakamoto in 2010:
Discussion
Iâve posted this same message 100 times!
Canât believe #satoshi Nakamoto and I both had the same thought!
Ok here goes:
1.think of your lightning wallet as your âbill foldâ you carry only a small amount of cash(cash for the weekend, or night out), DONâT KEEP MUCH HERE, like $100 -$200 just like a bill fold, rug pull wonât affect much.
2. Think of your âsoftwareâ self-custody wallet as your checking account. This could be something like âbrave walletâ or coinbase wallet. But must be self custody. Keep a month or so salary here.
3.think of your hardware/cold storage as your savings account. This is your NEST EGG.
If you think that way, fees/convenience dominate the lightning wallet choice. And just like loosing your billfold (it sucks) but wonât affect your destiny.
Features/convenience dominate the âsoftwareâ wallet. This wallet is self custody and keeps a month or so of working cash. Typically hooked up to an exchange for moving coin in and out, and sending to your LN wallet.
security dominates the cold storage wallet decision (e.g. multi-sig air-gap multi-vender etcâŚ
bringing receipts đ
Itâs open source software for a reason, Satoshi was wrong about a lot of things. Also, there is a difference between an experienced user making the decision to use a custodial wallet for convenience despite the risks and onboarding a new user to custodial when they obviously donât understand the risks.
Canât wait the day when you will rug everyone who is holding a sats at your wallet so I will be able to come back to this note that canât be deleted âď¸
This is not the gotcha you think it is.
You have to meet people where they are and WoS can be an effective way to demonstrate or introduce someone to bitcoin if youâre short on time.
This fixation on self custody for all amounts of sats in all circumstances regardless of skill level and knowledge is cringe.
Poor nostr:npub1hcwcj72tlyk7thtyc8nq763vwrq5p2avnyeyrrlwxrzuvdl7j3usj4h9rq they have somehow become the symbol of custodial #bitcoin while nostr:npub1getal6ykt05fsz5nqu4uld09nfj3y3qxmv8crys4aeut53unfvlqr80nfm also stole all their users with 1 tap zaps and ducks the hate.