Oddbean new post about login | logout The way I look at it is that a custodian is guaranteed to rug or be 6102d before your death. Basically a 0% chance to pass on your wealth with a custodian. So even with an imperfect setup you at least have a non-zero chance of passing on your wealth with self-custody.
You know with certainty when you’re going to die?
No, but I am more comfortable with my setup now than trusting a custodian to pass on my wealth. Worst case with custodian the coins go to an oppressive govt. Worst case with self-custody the coins are lost and donated to all Bitcoiners.
Fair enough. Worst case scenarios are good to account for, but there are many possible outcomes in between those extremes. Understanding the risks inherent in your setup is crucial for anyone. There are many factors to consider in each person’s individual situation. At the end of the day though, he who holds the keys controls the coins. So self custody is the gold (orange?) standard. 😂
Yea I don't disagree with you. The point is that bitcoin isn't a risk free asset. Holding your own keys should always give you a tinge of anxiety, or at the very least awareness of potential threats. Similar to carrying a firearm.
For sure, it is something I think about daily.