Oddbean new post about login | logout Why are custodial wallets awesome for orange pilling ? @The: Daniel⚡️ @AviBurra https://video.nostr.build/a6c9fbe0fdd5425f365a8e97d982b82cb0dffe610b48c647e673af9c0eb68279.mp4
Hey @Run with Bitcoin Great work! I totally agree - for a newbie custodial works great 💯 If you don’t have Blink yet, please do me a favour and use my link. I think the wallet is so cool because the community helps to translate it in all languages. This is a powerful tool to show someone a wallet in their language!!! https://get.blink.sv/drluke
Then his circle will grow 🪴🪴🪴🪴
This isn’t available where I live.
Custodial wallets are just payment apps using the lightning protocol to transfer value. It's built on bitcoin & denominated in bitcoin but it's not Bitcoin. Normies don't care & they shouldn't have to.
That easy first time user experience is important to hook them. It’s takes away that overwhelming mountain of things that need to be learnt before they start using it and can grow from there. But it is important to help them grow from there.
The rule should be custodial up to $300 dollars, Hot Wallet up to, Cold above $1000 then.
Whose rules? Are they going to be posted somewhere? What happens if you have $300 on WoS and then suddenly… BOOM! 💥 Hyperbitcoinization comes and now it’s worth $30,000? Then what, sir?
Yeah seems pretty arbitrary. $300 is the average monthly salary in Sri Lanka, that would be a lot of money there. It’s 10X the monthly salary in Afghanistan so that would be a shitton to keep in a custodial wallet for them! Treat it like cash in your wallet - don’t carry more than you’re willing to lose the same as you wouldn’t carry more cash than you’re willing to lose. Much easier rule of thumb and scales to everyone per their own individual wealth and preferences.