Replying to Avatar hh

Re: self-custody.

For real, just drop it. I know. I agree. But just think what you people are saying: "The current system is already cumbersome, people are just stuck with the familiar and reject the discomfort of what's new".

Yes, but in the current system, unless you're wealthy, you're covered by insurance. And then again, if you're wealthy enough not to be covered, you're probably sophisticated enough for self-custody already, or can afford to pay people to be sophisticated for you.

It's very simple: if my mom's bank "loses" her money, she gets it back. If she loses the keys to her BTC, she doesn't. And that applies to absolutely everybody in my immediate circle. I literally know no one around me who has more than €100k cash in a bank account.

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Jeff 2y ago

Completely agree. Some of the talk around this is wishful thinking. Normal folk are rarely going to self custody. I think nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx has it factually correct but directionally wrong when he says any mother can self custody as rearing children is much tougher. A very large proportion of people will never self custody even if btc becomes the world’s reserve currency - unless we get something so simple to use that it’s done by default and the user is incapable of losing them

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