Nick Szabo  🔑

Indeed!

Third party custodial risk is real!

And the more people need flight-to-safety assets - i.e. the less safe the financial world is -- the more third-party custodial risk matters.

Sure, I was referring to the base commodity though, bitcoin and Au.

You used the exchange symbols $BTC and $XAU, which represent exchange-based bitcoin book entries and brokerage-based gold ETF book entries respectively, so it was in need of clarification. Sorry to be pedantic but it matters.

You’re right, it does matter.

U mean physically?

Yes. The more there is a need for safety, i.e. the less safe the financial environment becomes, the more important eliminating third-party custodial risk becomes.

Nick do you believe the majority of people will know or want to deal with self custody?

It depends on how much safety is required by the particular person in their flight-to-safety scenario, and how user-friendly the software is.

Do you agree current solutions would be either intimidating or even unusable in a world where most people are only using a mobile phone as way to self custody? (Eg keep 24 password safe. Memorize. And verify)

Most ppl will not be using a mobile phone to store their wealth

What else would they be using? Let's try to articulate that in details. And also remember it's not just wealth storing. At some point it has to be available and usable for daily usage.

Exactly @NickSzabo4. People should be aware of exchanges that keep your private keys and/or never let you withdraw your #bitcoin Exato! Cuidado com exchanges que custodiam suas chaves privadas e/ou não possibilitam a retirada dos seus #bitcoins para sua carteira. @xdexbr