Nostr Web Client

why dosent someone create a seed phrase app similar to a 2FA authenticator to help the average joe start their self custody journey?

seems the biggest issue with custodial vs non custodial is that people are nervous about how to store their seed phrase (only a beginners obstacle, eventually everyone becomes comfortable enough to improve their security) so why not give them a decent middle ground to start with?

keep it open source, encrypted, fill it with prompts to learn about different security options + #bitcoin in general and let custodians reign supreme #BrickByBrick

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Discussion

MAHDOOD 2y ago

The way things are is really not that difficult. If you can’t take time to learn this, then you probably need to get wrecked in order to learn the lesson. Even if you make it easier, a lot will still make excuses. People have learned more difficult things. They just need the right motivation and pain is usually the answer.

₿anon👾 2y ago

you’re not wrong when saying people have to learn difficult things but sending people into war with wooden swords is not how we achieve mass adoption

“getting wrecked” is not an effective way to teach people about proper self custody.

MAHDOOD 2y ago

False equivalence. We are not giving them inferior tools. In fact, your first message was advocating for inferior tools. The seed phrases work. Giving them an app that holds your seeds puts their money at greater risk. Writing down 24 words is not that hard. People just don’t want to take responsibility of their lives. They’re comfortable with the current system and trust it’ll continue operating well enough.

₿anon👾 2y ago

so when you introduce someone in the public to #bitcoin do you have them write down their seed phrase in the street and stick it in their back pocket? or do they slap it in their notes temporarily?

saying i’m advocating for inferior tools is missing my questions point lol ;

initial seed phrase storage is the biggest pain point for the average person.

theres probably a way to ease the learning curve without leaving them to the wolves.

pioneers take the pain/risk that average settlers won’t, then build them roads.

MAHDOOD 2y ago

I did this two days ago with someone. He downloaded blue wallet and went through the whole process of creating a wallet on his own while I watched. He chose to screenshot the seeds instead of write them down. After he was done I explained that the wallet isn’t secure because it’s online and that the screenshot is vulnerable to being hacked. I recommended he repeat the process using a cold storage device when he’s ready to buy large amounts. I really think the key is education. I was very afraid of using cold storage as well in the beginning. But it wasn’t because it was difficult, but because I was lazy and scared of taking personal responsibility. I heard stories about people permanently losing everything because they sent it to the wrong address. I left everything on an exchange in the beginning and as I learned more about the risks, I slowly became more afraid of losing everything to the exchange’s mistakes than to my own. If people understood how much was at risk by not holding their own keys AND the fragility of fiat, they’d go learn on their own for sure. It’s really not that hard but people are spoiled and comfortable in the west. I have a friend that I’ve been trying to orange pill for a very long time. He even bought a trezor a few months ago but he won’t take a few minutes of his time to sit down with me and start learning. It’s just laziness man. After blackrock filed for the bitcoin etf, he said “oh that’s good I’ll just buy from them.” How are we going to conclude that the tools are difficult when people don’t even try? People are just incredibly lazy and ignorant of the risks.

symbsrcool 2y ago

Can you elaborate on your idea? Didn’t seem immediately clear how the 2FA would work. How is it different from a password on top of seed words?

₿anon👾 2y ago

was more so using 2FA as an example; the thought was originally that if downloading a “temporary seed phrase protector” was as easy as downloading a #bitcoin wallet orange pilling in the wild would be easier since the seed phrase is usually where people start looking like a deer in headlights lol