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187 sats \ 4 replies \ @Scoresby OP 17h \ parent \ on: Photon SDK for seedless bitcoin wallet designs bitcoin
Fair enough. I suspect if we surveyed average bitcoiners, they would have a sense that the Bitkey model is like Bank of America saying, "look, just wire your funds to Chase. You aren't locked in."
I like the idea of my wallet software being easily replaceable. If I have to sign a transaction to do that, I am to some extent reliant on the software to allow it to happen.
To me, this doesn't feel like what most other wallets support (much easier restore to a different software provider). I don't believe Bitkey can claim equality with this property in other wallets. It's a trade off, sure. I get more reliable backup for foot gun situations, but I lose easy wallet recoverability with different vendors.
I'm fine with you calling it FUD. It's on me to make my case. But it's not a lie.
The comparison to Bank of America is also FUD. What is the Bank of America equivalent of using your own Electrum server and Emergency Exit Kit?
It may be the case surveying average bitcoiners would have them think this, which is why I like to call out the FUD so people aren't tricked.
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Also, if Bitkey makes design decisions that make it so other wallet software cannot recover their wallets, I think this is a trade off and should be discussed as such.
If you want to do advanced things, at least make it so you can restore the wallet in Core.
My earlier point about using a public electrum server and the Emergency Kit is that such a recovery flow is significantly more difficult than importing seeds. It's a trade off.
But Bitkey's language about this has not exactly been nuanced. "Seedless is safer" is a strong statement. They are free to market however they like, but my questions about vendor lock in are certainly not as strongly worded as their absolute claims to better safety.
If you wish to pursue clarity, I'm surprised you are willing to accept the "seedless is safer" claim at face value.
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I've commented about this at length on X and on stage at the Vegas conference.
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I listened to the panel you moderated about seed words at Vegas, but as moderator I understand it was not your role to weigh in too heavily. Was there another talk at Vegas where you commented about the trade offs of the seedless design?
I'll go read what you've said on X.
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