Wanted to post just a link...http://bitkey.build/what-do-you-mean-theres-no-seed-phrase/ But the poll was more interesting!

I like the metaphor here...

You know that spare key your neighbor has, hidden under the mat or a fake rock or in a combination lockbox, in case they get locked out of their home?

That’s basically what a seed phrase is: a high-value hide-a-key for your bitcoin.

Even more interesting:

The three key model also means three routes to recovery when something goes wrong.

If you lose or replace your phone, you can use your Bitkey hardware (fingerprint protected), together with the key on Bitkey’s server, to easily regain access to your wallet.

If you lose your hardware, you can use your phone, together with the key on Bitkey’s server, to set up new hardware (after a Delay and Notify period expires, during which Bitkey pushes alerts to your app to alert you of a recovery attempt).

If you lose access to both your hardware and your phone, you can regain it with a little help from one of your Trusted Contacts–people you know and trust who, through the magic of cryptography, can help you regain access to your wallet, but can’t access your wallet or any of the keys that secure it themselves.

And in the extreme and unlikely case that your Bitkey server key is no longer available–or you just want to exercise your own financial autonomy–you can independently move your funds with the two keys you control, without relying on Bitkey’s server key at all.

If Bitkey holds a key, is it still self custody?

YES42.9%

NO21.4%

IF YOU TRUST BITKEY, THEN IT'S OK21.4%

OTHER, I'LL COMMENT BELLOW 14.3%

14 votes \ 18h left

150 sats \ 0 replies \ @gandules 4h

If it's a 2 out of three keys, and they only control one key, then yes it is self custody.

21 sats \ 0 replies \ @kepford 4h

I don't like the framing of the question. If you have 2 of the three keys you have control. In multi-sig you are responsible for who has access to the keys. You are indeed trusting the company but this would be no different from a company having a multi-sig and trusting their leadership to each hold a key in a multi-sig. There's no right or wrong. Its about trade-offs.

Personally, I am not interested in Bitkey. I don't think I'm the audience for a device like this. But there is a massive segment of people that do not trust themselves to the level required for multi-sig.

I honestly do not care how people manage their own bitcoin. I do think early adopters that are savvy and responsible should use self-custody if we want the tech to get better. Far too man "bitcoiners" are lazy. Too lazy to self-custody. I don't like the "bitcoin is inevitable" mindset. We have far more control over our futures and the future of bitcoin than we realize.