And yet people don't seem to learn. They fall into complacency because they trust a custodian and they get fucked.
Discussion
More of a knock on people rather than the service, but still.
True, but have you ever seen someone fuck up even worse with self custody? I have.
Oh, I've fucked up worse with my own self custody. Trust me, I've learned my own expensive lessons. But I trust myself more than a custodian.
nostr:note1td5e4mx7wycv8yqy5ly96mk5w7pc3nacywygq8v6zl5zfuxpt2rqx88ras
Okay, I haven't lost that much, dear Lord.
Makes you realize how few people in the world are responsible enough to handle their own private keys.
Okay, granted I just skimmed the article. But That sounds like typical social engineering to me.
It is, but that’s just one of the bad things that happen, even to people who should know better.
Right, but it doesn't mean that people should just blindly trust custodians because it's "easyer". You don't need to be some sort of master tech wizard to keep a key safe.
You don't need to be a master tech wizard to keep a key safe. I submit to you however than 95% of the population is unable to keep TWO keys safe. And remember which is which. And keeping TWO keys safe is actually necessary if you are going to be fully self-custodial with both "hot" wallet and a "storage" wallet.
I have an opinion on this. Bitcoin users should be expected to manage at most one (1) seed phrase, and that's for their cold storage / hardware wallet. Asking anyone who is not technical to manage TWO seed phrases -- one for their cold storage, one for their "hot" (lightning) wallet... that is just too much. Most people will fail.
Yeah. I wont disagree entirely.