34 sats \ 3 replies \ @zuspotirko 24 Feb 2022 \ on: Given the situation in Ukraine, if you're using the default (custodial) channel that comes with @SimpleBtcWallet you may be at risk losing your funds | @zerofeerouting bitcoin
Custodial is a disease of the crypto world. Not your keys = not your coins.
I understand why authorities around the world are unfortunately hardening the border between traditional finance and bitcoin.
It is a disgrace that this disease is slowly creeping into mining (*cough * nicehash), bitcoint atms needing phone numbers/ids and even hot wallets on peoples personal phones. I already see a dystopian future where self mining via tor is the last resort to get coins.
You're a bit crazy. Without custodianship Bitcoin will never scale.
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A bit? He have no idea about what he's talking...
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It's not about "without custodianship". It is about "not without custodianship". The existence of KYC is fine - the idea that one day no "no KYC" options are left is sickening.
And it's not crazy at all. If there is no wallet without KYC left (remember that wallets are essentially just basic mathematics + internet, why the does that need kyc) I could just go right back to Paypal and invest in other hard assets as real estate or stocks.
Nobody asks me for my id or phone number when I buy a croissant at the bakery with bills and coins. So sad to see that even in a bitcoin website people don't see that an online equivalent is necessary.
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