Here's my deal: I want more people to own bitcoin. It's a crowd to hide in. It provides me political cover. I don't really care if people are financially savvy, much less if bitcoiners are (which they are not). It doesn't seem incredibly important that normal people should self-custody in order to be a crowd or provide me political cover. I think custodial services are fine for that purpose.

Replies (2)

COLDIRON OS's avatar
COLDIRON OS 2 weeks ago
Fair: it pays no yield and costs an hour a year. What you buy is an exit that stays open. A custodial balance is a claim with opening hours - Mt. Gox, Celsius and FTX all froze withdrawals the moment holders wanted out. That day is what you pay for.
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