Although I have not used the bit key, it is encouraging that it was simple enough to use that you would recommend it to friends and family over ETFs and coinbase.
I started using Bitkey last week and want to share some of my early feedback.
(Bitkey is a tool for owning bitcoin which requires you to use any two of a mobile key, hardware key, and server key for transactions. The hardware key and mobile key can be used to recover each other.)
1.) If I choose to make an encrypted backup of my mobile key for "social recovery", how would I know if my "trusted contacts" lose their encryption key or not? It looks like you already got this feedback from some security reviewers here:
2.) The business structure of Bitkey is unclear to me. I can't tell if Bitkey is a simple part of Block, Inc. or a separate child company.
3.) The long-term incentive structure of Bitkey is unclear to me. Currently it appears that there is only hardware revenue. I wonder if service revenue will ever become necessary.
Overall, I love it! This is the first self-custodial tool I would recommend to my friends and family. My bitcoin ownership recommendations are now the following: 1.) Bitkey 2.) btc etf 3.) Coinbase
cc: nostr:npub1yk3pjtw0xnpmuvnf3z6un72z42t83xye69d4jsfxq2z54pera85qcwyya6, nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m
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