Subnostr

And if the cost of self custody is $250, then that means for a 5 year hold you need to have a stack of $25000 before self custody is cheaper.

Will be interesting to see whether the regulated institutions also rug or not.

mrclownworld 2y ago

Yeah I hadn’t even factored in a hardware wallet. If you spend $250 on 1% fees and $250 on a hardware wallet that’s 10 years of ETF fees on $25,000.

The bottom line is - Wall Street has actually created an L2 UTXO sharing solution that has a competitive cost. Third party custodian risk is of course introduced, but, as we learned with the recent fee environment, the vast majority of people will not escape having some form of custodian in the hyperbitcoinized world.

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Discussion

Chris Liss 2y ago

Wall St is a way better deal. Way better. You don’t even have to remember a whole bunch of words.

Small problem is if you posted the wrong thing on nostr. The authorities might instruct Larry Fink to freeze your coins.

No big deal though. You would never say anything wrong on social media.

Would you?

mrclownworld 2y ago

I’m with you. I just reflexively thought the cost would be just as stupid as the custodian risk. Turns out the cost isn’t really a drawback, surprisingly.