Why Self Custody Of Shitcoins Is Pointless

When bitcoin dematrailsied money, it changed the way we hold our value forever, for the first time you can hold as little as 1 cent of purchasing power, to as much as billions in purchasing power, all from the same device or wallet. You don't need to upgrade, you don't need to ask for permission, you only need to have the private keys to sign it.

Bitcoin's ability to secure value across space and time, with only a seed phrase to sign it is a revolutionary tool, and with all great tools come low rent copycats.

So you're probably saying well shitcoins can be self custodied too, look I have a ledger I can store my coins there and it's safe. Sure you have a hardware wallet, but having a physical device doesn't provide security, it's deeper than that.

I could personally create a set of offline keys using software only for my bitcoin and it would be a million times safer than the shitcoins in your hardware wallet.

• Hotkeys aren't secure
• Shitcoin incentives are not to self custody
• You are still exposed to network risk
• You don't choose your node rules
• You don't get to verify the tech stack or have optionality

You can find all my arguments here in more detail, if you're still unsure of what I mean.

Shitcoiners don't advocate for self custody

When you shitcoin, you know you're being diluted by your overlords, so you have to chase yield, be that through smart contracts or staking through validators.

That is assuming 3rd party risk moron.

Since you don't want to have your claims on the network diluted you're forced to go risk your capital because the network offers no adequate compensation for just hodling.

While bitcoin has been offering its holders a CAGR of over 100% a year for over a decade lol.

Even a ham sandwich in charge of a bitcoin wallet outperforms 99.8% of shitcoiners.

Network risk

Don't believe me, well ask anyone who had Luna in cold storage, or UST how well their cold storage worked out for them, they did the right thing, secured their assets, but still had 3rd party risk.

Node and tech stack

I run a bitcoin node and a lightning node, it wasn't that hard, I live in Africa, where I don't even have 24 hour power and I am still able to do it. The barrier to entry to verify what I am talking about is so low, so I can take the time to pick the software and implementation I want.

I know my self custody solution is not as secure as I would like it to be, but I am actively working to improve it as I learn more about it.

Shitcoiners just slap on a meta mask and think they're secure its laughable, as if people have not lost money signing into phishing sites with meta mask. As if meta mask has not gone down in the past. As if meta mask hasn't banned certain users in the past.

Seriously it's so embarrassing and pathetic, what shitcoiners call self custody

Have your say

What do you good people of HIVE think?

So have at it my Jessies! If you don't have something to comment, "I am a Jessie."

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