And the most funny thing is - they all make those 12/24 word seed backups in an plain, open format.
The bad guys ( thieves) will have a super easy route - just snap a photo, picture of that seed-word piece of paper.
The seed words are the most annoying thing I hate in a wallet. They could have leave the option to the user to create their own seed backup, that way, no one will ever need to write it down anywhere. Just use the native name of one of your child as your sed backup, no one will ever detect it, nor will you ever have to forget it.
Somebody with private keys in self custody - is NOT a nerd. Well, even if this name may be valid today, will be a normal daily practice for most people in year 2040
fact.
I guess people are lazy to move from exchanges and be responsible enough to hold in self custody.
It's not just about being lazy, most are afraid of hacking and other bad things happening in the crypto space.
The sooner the better to have self custody, exchanges are always a risk.
100% correct. I wrote about this in my post yesterday. ETFs is for grandpas not for crypto nerds. Grandpas can do a ledger and seed phrases backups.
And the most funny thing is - they all make those 12/24 word seed backups in an plain, open format.
The bad guys ( thieves) will have a super easy route - just snap a photo, picture of that seed-word piece of paper.
The seed words are the most annoying thing I hate in a wallet. They could have leave the option to the user to create their own seed backup, that way, no one will ever need to write it down anywhere. Just use the native name of one of your child as your sed backup, no one will ever detect it, nor will you ever have to forget it.
Your assumption is very very very much WRONG !
Somebody with private keys in self custody - is NOT a nerd. Well, even if this name may be valid today, will be a normal daily practice for most people in year 2040
Oh well, being a nerd seems to be more deeper than just knowing how to self-custody.
People needs to understand this " Not Your Keys , Not Your Funds.