Oddbean new post about login | logout What is the best, short introduction I can give somebody to explain the power of self-custodial bitcoin to somebody who knows bitcoin only as something on binance and who lives under sanctions or problems receiving money from abroad.
It’s like cash in hand vs cash in a bank, except with bitcoin your cash in hand is still digital and can be used online.
good one! 🙏 do you know any info online as a good start to learn. there is so much scam out there and then I (with no credibility) come and tell this.
I would consider you have a high amount of credibility considering your work with building Alby, but as for resources I like what River has. Of course, they are a custodial service and sprinkle their products into the materials, but they do explain a lot about Bitcoin from basics to more advanced, and it’s organized well. https://river.com/learn/
"It's time to be your own bank!"
Your money in your own bank, with no need to ask for permission or inform anyone about the transactions you make in your account.
Bitcoin is the Second Amendment of money. In the same way that bearing arms provides protection from government force, Bitcoin provides protection of your purchasing power from government money printing diluting your savings. Credit: Eric Balchunas, Bloomberg
Remembering thus one "wolf of wallstreet" scene you should create a need in the head of your dialogue partner in order to be convincing. Like "would you please give me the cash in your wallet? I will keep it for you, trust me..." If the person has already bought Bitcoin on Binance, ask the same but swap "cash" with Bitcoin. If the answer is "No!", it should be easier now to argue for self custody.
Imagine having your Bitcoin like cash in your pocket instead of at a bank you can't always access. With a self-custody wallet, you hold the keys, not Binance. Nobody can freeze your funds, and you can send/receive globally, regardless of sanctions or banking issues. It's your money, truly yours.