When asked how to explain the importance of self custody to a bitcoin newbie -

One way to convey the importance of self-custody to a Bitcoin novice is to explain that Bitcoin is a decentralized digital asset that is designed to eliminate the need for trusted third parties, such as banks or other financial institutions. When Bitcoin is held on a centralized exchange or custodial service, it effectively reintroduces the need for a trusted third party, creating counterparty risk.

Counterparty risk is the risk that the other party in a transaction will fail to fulfill their obligations, leading to financial loss. When Bitcoin is held on a centralized exchange or custodial service, the user is relying on that third party to secure their assets and fulfill their obligations, introducing a level of counterparty risk.

On the other hand, self-custody of Bitcoin means that the user has complete control over their own assets, without relying on a third party to secure and manage them. This eliminates the counterparty risk associated with centralized custody and ensures that the user is in full control of their own financial assets.

To further simplify the concept, you could explain that self-custody of Bitcoin is like keeping cash in a personal safe at home, while leaving it on a centralized exchange or custodial service is like keeping it in a bank. While banks may have security measures in place, they also introduce a level of counterparty risk. Similarly, while centralized exchanges or custodial services may offer convenience, they also introduce counterparty risk, while self-custody eliminates that risk.

Really beautiful. I hug them all the time

Hugging trees is an underrated act of love

#Bitcoin rally will continue through 2023, says Bank of America

Things that were named by lazy people:

I can’t believe no one is taking NY Times seriously. They put in so much work to expose bitcoin mining and nobody cares. Bitcoin is a burden on the electrical grid and is responsible for brining retired dirty energy online! Selling all my bitcoin right away. Thank you, NY Times 🙏

Thank you. That makes a lot of sense.

Sunk cost fallacy.

"You know Ethereum's scarcity is artificial, the devs control it right?"

"Yeah"

"You know it's 70% premined?"

"Yeah"

"You know transactions can be censored and rolled back when they want right?"

"Yeah"

"You know there's no use cases?"

"Yeah"

"Why do you still hold it?"

Because you are the product for Google. It’s a loss leader.

What are the three most common questions you get from normies about #bitcoin ?

Not owning #Bitcoin is risky…

Anyone else’s body still shot from consuming too much sugar over the holiday weekend?

When will I learn #FistToTheSkyEmoji

NEW‼️ #Bitcoin  is UP +81% this year...so far!

LFG! 🚀

I heard it is going to rain tomorrow.

#tokyo