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Personally, I think it will start with HWW / backup + PIN / backup + password / backup, and will end with multisig "savings" + lightning "checking", or people will just rely on lightning 100%
I think banks will still exist to hold one key of a 2of2 multisig. That will solve the problem of custody for most people.
edit: Wait... then they still have to not lose their key. This setup only protects against getting hacked. Okay, nevermind, lol.
But it's at least something.
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You’re really close:
2-of-3 collaborative custody multisig where the “bank” holds 1 of 3 is the solution here. Unchained Capital’s goal is to provide this solution, and they’re already doing it.
If a bank tried to do 1-of-2 or 2-of-2, Unchained’s model makes that instantly obsolete. It’s honestly genius. It’s bank level security for a back up, but they don’t actually control your funds.
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Super interesting perspective. Seems almost oxymoronic to think central banks holding bitcoin could be a thing, but I can relate to the greed/stupidity sentiment. It means things are anything but straightforward, and it results in plenty of oxymoronic realities, haha
Sadly, I think there will be a long phase of people thinking seed phrases are like passwords, but after a ton of bitcoin is lost, I think that's one of the few things that can't last. People will absolutely have to have SOME concept of keeping a crypto wallet secure before things can truly stabilize.
Personally, I think it will start with HWW / backup + PIN / backup + password / backup, and will end with multisig "savings" + lightning "checking", or people will just rely on lightning 100%