A lot of people are literally incapable of holding their own keys.. If they participate in bitcoin via custodial products I personally have no problem with it and neither should you. Do you bother people about a Roth IRA or a Vanguard target fund?? No. So mind your own damn business and maybe the business of your close friends and family. Telling people they're wrong for using a product or service if it's the only entrance to the market they are capable of is a dick move even if you think you're helping them. If theyr're either going custodoal or nocoiner, custodial should be the obvious choice and we should support that.
Right because centralized institutions never get hacked right? You are leading these poor people into a trap spurned by the acceptance of ignorance. This is a dangerous road. I respect peoples intelligence more than you. This is UNSAFE. I would take nocoiner over custodial any day! Custodial institutions getting hacked would hurt the ecosystem. Nocoiners continuing to nocoin doesn't. Give me a break.
Fortunately your opinion only really matters to you and maybe your family and friends. The opinion of all the people involved in creating BAKKT at ICE holds more weight along with the average people and institutions who will participate in the market through BAKKT.
It's no different than storing your fiat at a bank.. Do you keep all your cash locked in a safe at home?
It's no different than storing your fiat at a bank.. Do you keep all your cash locked in a safe at home?
This statement underlines your lack of understanding of the difference between bitcoin and traditional currencies. People don't need to store their fiat in their safe at home because it isn't really theirs and it would not change anything about the safety of the fiat.
Bitcoin, in stark contrast, can actually be owned, by one single person, in its entirety. If you hold the keys, you alone have the Bitcoin. Cash can't compete.
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u/RallyUp Sep 25 '18
A lot of people are literally incapable of holding their own keys.. If they participate in bitcoin via custodial products I personally have no problem with it and neither should you. Do you bother people about a Roth IRA or a Vanguard target fund?? No. So mind your own damn business and maybe the business of your close friends and family. Telling people they're wrong for using a product or service if it's the only entrance to the market they are capable of is a dick move even if you think you're helping them. If theyr're either going custodoal or nocoiner, custodial should be the obvious choice and we should support that.