Call me a heretic but I actually hate having to control my …

Couldn't agree more. Only in the BTC cult is that heresy though. BSVers understand that Bitcoin is not anti-banking, and there is no such thing as "being your own bank".

But my IPhone cost $1200!!

My cold storage phone is literally in a bank vault and my seed words distributed all over the place with none of them at home.

I would like some kind of custodial wallet with multisig, maybe a 2 of 3.

1. Me
2. Bank
3. Lawyer

Or something

@204 There are not 7 billion bank vault safety deposit boxes in the world so what to do for the rest of people? 😉

Also you can do what you propose with Safewords however I don’t see the unwashed masses being organised enough to get it sorted.

I strongly agree with this.

If us Bitcoiners want the security, you can absolutely guarantee that everyday joes will require it.

I’ve been saying this for a while. I don’t want to ‘be my own bank’.

Yes you're right, tricky problem at scale.

I guess banks will need some cool banking software that allows for custodial bitcoin banking.

have we forgotten that banks can just take what is in your account even your deposit box? If all it takes is the stroke of a pen to change rules they will do it if they have too. Nice to have the option

maybe you don't sleep well cause you are trusting the maker of the $100 trinket-probably worse than trusting the bank. You could generate your own keys encrypt them again or some combination of things and yup taking responsibility is annoying

@1357 script can make it impossible for the bank to move anything without a secret from you, some proof of work or some other such thing. This will be a huge game changer. Banks will hold keys to your money but they won’t be able to use it.

then they will say the depositor can't use it either without approval from bank and or then they will lobby so that it is illegal to use unless we deposit with them. Slowly or quickly but surely they will separate us from our money

we get no interest we just deposit for safety and ease of paying bills. seems this new money makes banking from depositors perspective obsolete. longing for custodial services sounds like trashing the power being offered by this tech

if securing is difficult maybe it would make more sense to long for Security Advising services or guides and software that make it easier to control keys? could it be too early to jump to the conclusion that you want or need a custodian to make it easier?

I think you should try to understand this better. You are still in control. You are putting your money in a place where you have absolute authority. You give permission to the bank to touch your shit. Not the other way around.

The custodians arent holding money. Just a piece of a key. You can also distribute pieces to multiple custodians. Whether a ‘piece of key’ is fir a recovery master key or a piece of every key in a chain is up to you. You choose your level of protection.

I do understand actually. Apparently i am just terrible at making my point lol

apologies for coming over all rude and shit.

It's an interesting and very relevant topic.

Not rude at all. I need to think more. I got lazy stating my case because its complicated. When we deposit we don't really own the money anymore its the banks money they use it. we would be better served by contracts and our attorneys to hold private keys

Mainly concerned by your use of the term "banks". I can't see why banks would even want to bother with helping us secure something they can't use but then maybe you mean new banks will emerge to meet the new money. Hard to express with short twetches lol

we think we are customer at the bank but we are the product like we are the product at facebook. does that help explain my position?

Would be great, and would represent going back to the original function of banking, i.e. storing your valuables as a service; and now there's no need for the bank to issue promissory notes, since the system is electronic, thus no risk of fiduciary media.