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HORRIBLE ADVICE. LEARN HOW TO HOLD BITCOIN SECURELY YOURSELF. I RECOMMEND BITKEY FOR NON TECHNICAL USERS. COLDCARD FOR EVERYONE ELSE. SELF CUSTODY IS EASIER THAN DRIVING A CAR OR RAISING A KID. NO EXCUSES. FIGURE IT OUT OR REGRET IT LATER. image

Replies (68)

I don't think this is bad advice. Keep in mind we are coming from a perspective of people who literally thinks about BTC security all day every day. Your average person doesn't do this and often can't even keep their Twitter account secure. The difference is now they lose their life savings instead of somebody tweeting from their account.
↩ replying to npub1v44x...vgf8
Lol idk about that as history shows there are those people...just we got tricked into letting others hold our own value once u understand the power behind holding it's the same as buying gold i would always be told buy the physical same with #btc pull it into ur hands :) cold storage i tell older people is basically a safe u put ur bitcoin in the safe same as gold in ur safe :)
Anyone should be able to learn. To me, the key is to start small enough that it doesn't even make sense to get a hardware wallet at first. Just play around with like $20-$100 worth self-custodied on a phone app. Practice sending corn to yourself and/or back and forth with a friend. Practice wiping the app from your phone then recovering everything with your seed phrase. If you fuck up, you did it before you even had a devastating amount to lose. None of this is all that difficult. Once you feel comfortable, you will have developed a pretty good tool-set for now knowing when it makes sense to switch to a hardware wallet - or maybe you will conclude that 3rd-party custody is what would work best for you... the point is to put yourself in a position to make an educated decision regarding your personal situation rather than just blindly going with someone else's recommendation. If you're not willing to put forth even this minimal effort, you should probably just stick to ETFs if you want any exposure to Bitcoin at all.
I use a bitkey for my mum but always worry over the upper limit that can be 'secured.' What's the upper limit, @ODELL et al or there isn't one as long as the tradeoffs are accepted. I'm not too concerned about it not screen having a screen as we do regular rather large lump sum buys.
I’ve gotten 10 of my friends into bitcoin and I made sure they all have self custody. But unfortunately they are unwilling to learn anything and I constantly have to hold their hand. At the end of the day most people love the nerfed world we live in and only care that the beer is cold. I won’t give up trying to educate people but I can’t make them take responsibility
Nope - excellent advice *for some people* and *some circumstances* Many are comfortable and confident managing all their bitcoins 🙂 but some people - even with excellent tuition/guidance - are definitely not Think of some of the absolute numpties you dealt with in your fiat-life; think of our old sparring partner Peter Schiff .. the bloke can’t even manage a password Full self custody is the ideal .. some people aren’t up to it .. #reality
Love your idealism, Odell. The reality is that most people don’t want to think; they just crave dopamine hits. Everything else feels like a burden they’d rather avoid. Unfortunately, bringing these NPCs on board is a necessary step to free those of us who value freedom. Custodial solutions are a part of the process. Saylor is part of the process, Tether, and even money laundering, are all necessary steps to free this restricted group in the new cycle of adoption.