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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.
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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)
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Most ppl will not be using a mobile phone to store their wealth
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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.
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A hardware wallet for savings. LN or custodial is fine for small payments
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How do you get a hardware wallet set up when the onky device you have is a mobile phone. And where do you keep your back up "safe"? (Don't answer on your phone :)) And this is assuming they will know how to. LN is nice but sadly disappointing adoption and impossible ux for now
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One way to think about it is having both a savings account and a checking account. Or more appropriately, a safety deposit box for keeping previous assets and an ATM/debit or credit card for payments. Two related, but separate use cases.
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correct. but that does not solve the question about how to convince non-technical users to deal with cutting edge and complex self custodial set up and device-specific solutions that require a computer.
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That’s spot on
@NickSzabo4 . But then the question is: how/can the forced compromise between safety that comes from self custody and convenience/ease of use that comes from centralized or intermediated solutions be broken?Thanks. Twitter will use this to make your timeline better. UndoUndo
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