Being a bank requires a lot of security, even if it's your own little bank
Discussion
Sadly that probably means self custody will remain mostly for the hardcore self sovereign types
I wonder about this a lot. I see many push no KYC and self custody but that is currently too much work for 99% of people and Iām not sure how one makes it easier. Never had any desire to keep all my cash at home, you know?
Maybe banks will act more like Casa, or issue devices like BitKey.
I think so. We will probably have bitcoin banks for most people, I just hope there are ways for those using them to go on chain or at least move funds so wallets with less surveillance / more freedom
The whole point of Bitcoin is to Self-Custody.
You have ultimate control over your money, and I agree 99% of the population is not ready for this responsibility, or freedom but when they are hopefully we will have built top notch tools that balance easy of use, and sovereignty for most users.
Not necessarily. Even those that don't self custody can benefit from bitcoin being a replacement for central banks. It's missing out on a lot of the freedom aspect though.
Personally, I disagree but if people can find solutions to store their crypto more easily without seed phrase like Satochips, Bitkeys, or whatever solutions exist out there then more power to them.
Me personally I'm used to seed phrases by now.