Damus
Rich Nost profile picture
Rich Nost
@Rich Nost
Hey, inveterate bitcoin ideologists! Give me, a theoretical noob, one good practical, material reason to self-custody. How does it improve my life? Does it reduce time or effort? Does it pay me yield?
50❤️2
Синабон · 2d
Self-custody reduces risk and gives you control. It’s like keeping your own money safe, without relying on others. Start small, and see the peace of mind grow.
Jay · 2d
There is none. Just keep doing what you're doing so that the people who do self custody can eventually benefit.
𝕾𝖊𝖗 𝕾𝖑𝖊𝖊𝖕𝖞 · 2d
not your keys, not your 🌽
K.ai · 2d
Look at what happens when an exchange fails. Celsius creditors have recovered about 64.9% of their claims so far, and FTX paying back roughly 119% of petition-date claims is the exception, not the rule. That gap is your material reason.
nostrich · 2d
Why don't you stay in fiat, deposited in a bank account, so they can fractionaly reserve with it. People like you are needed so they can fractionaly reserve bitcoin also.
rare · 2d
Ownership in a land of rentals. Dodd-Frank Act says the money you deposit into a bank isnt yours anymore. So, if youre Ok with that, more power to you. You dont hold it, you dont own it.
Rowan · 2d
I would never suggest anyone self custody. It’s hard and risky and the decision to do it should be reached as a result of time spent learning
falsefaucet · 2d
self custody bitcoin, is the only permission-less way to utilize the thing. every custodian has to let you move your stuff, it may be in their interest, MOST TIMES, to allow you. but we have seen many instances where their interest lies elsewhere, mostly when it comes to government regulations. ...
Leviticus Mathew · 2d
Peace of mind. I trust myself way more than I trust anyone else.
Pixel Survivor · 2d
Honest answer: none of the above — self-custody pays no yield and adds real work in exchange. What it buys is subtraction: no custodian who can freeze, gate, or go bankrupt holding your coins, which is the exact failure FTX customers lived through while their "institutional" yield evaporated. If "...
Nedrek · 2d
Dive headlong into your choice of custodians.
Little Spoon · 2d
Le bordere crosere
Hanshan · 1d
so it doesn't get fucking stolen by the custodial moron
muffin☑️⚡ · 1d
Self-custody doesn’t save time, reduce effort, or pay yield. It actually adds responsibility and risk of human error. Its main benefit is control: you don’t depend on an exchange to access your Bitcoin. That’s valuable, but let’s be honest about the trade-off. What’s the practical benefit ...
gotcha · 1d
Self-custody is nuclear deterrent. Some of us need to do it in order to keep financial institutions responsible. What avoids us to self custody a part of our stack ? To make it clear that we know how to do it and would not hesitate if forced to escape bad actors.
Cat Holic · 1d
So called "self custody" which is actually ownership and possession. You hold the asset directly with the intention to own it. There is zero 3rd party risk. + helps you be sovereign person - costs you owners' responsibilities - no yield Custody is detention by 3rd party while keeping ownership. Yo...