You missed that we are hiring :) I saw you’re looking for a job?

Yep exactly why we write a whole article analyzing the different tradeoffs. Pretending that one is “obviously” better than the other is naive and the thought experiment proves it pretty well. As mentioned in the other thread, our clients are first party customers of the qualified custodian. We just have certain custodians we recommend for different use cases.

Exactly right. If you trust someone you trust someone. By the way our clients sign terms of service agreement directly with a qualified trust company. For them it is a first party agreement, not a third party agreement. So you either trust a bitcoin startup that they’ve done all the right things, or you trust a qualified custodian, which has much more proof of work (soc2, billions in custody, track record, legal

framework for segregation of client funds, etc).

CashApp is great. We tend to serve a lot of high net worth clients and also in some cases clients that require qualified custody for various reasons. Not sure you can go to coldcard with larger amounts on cashapp. I once got a big amount stuck there that took forever to take off.

Just want to point out, as a thought experiment, that if your first party is “bob’s totally trustworthy built in my garage bitcoin store” then maybe that’s not quite as good as a third party custodian with audits and so on. CashApp is trustworthy, because it’s a public company and has a large security budget. Minimizing time in custody is always a goal. If you can get what you need there quickly, that’s awesome.

First party or third party there is always trust. You don’t know that the “first party” custodians have your coins. You don’t know if their security model is any better than a cold card in someone’s basement. You don’t know the security budget allocated to that. A startup will not have the same level of budget allocated to security as a qualified custodian. We use a framework of qualified custody including on chain observability, state regulation, soc2 audited, etc. We assess the risks of the various models here: https://www.swanbitcoin.com/assessing-risk-in-bitcoin-custody/

Ultimately, wire in and withdraw your bitcoin within 24h. During that 24h period they are in qualified custody with all of the above in place.

Several new initiatives launching to boost that even further ranging to the easiest to use multisig in the industry to gamification to encourage even more self custody.

Curious about this line of reasoning Matt. You usually post things with good reason. We do nothing except encourage self custody and have the highest withdrawal rate of any exchange or custodian that I know of. If you know someone who can beat 64% let me know.

Nope expanding the team!

https://swan.com/jobs

Security jobs open at swan - app sec, threat detection, TPM - senior and director level. 👀

Naw they have no coherent understanding of bitcoin. No proof of work!

Are there any security people that are not shitcoiners? All I see is web3 in my job queue. What is happening in the world 🙈

Investigating!

Amazing what heavy layers of mulch and natural plant decomposition do. It was back to good soil in about a year and kept getting better

Now it works!

Noice

Swan is hiring security engineers!

https://bitcoinerjobs.com/job/985839-application-security-senior-engineer-architect-swan-bitcoin

Aaand my pic failed to upload

You may not like it, but this is what peak suburban garden performance looks like. This land was dead soil, mud, and mosquitos 4 years ago. Everything in the pic, we planted by hand.

Glad we could figure it out! Thanks for your patience !