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I'm entirely unconvinced that self custody is an advantage for anyone except extremely sophisticated people (sophisticated in both the technical and financial s

by nl 5y ago

I'm entirely unconvinced that self custody is an advantage for anyone except extremely sophisticated people (sophisticated in both the technical and financial sense). I've been doing blockchain on and off since 2008. Recently I lost a few thousand dollars by sending crypto to a L1 address when I was on a L2. I work on self-soverign identity in my day job. I've written smart contracts. I'm a careful person. Basically I think if I'm dumb enough to do this what chance do most people have of getting this right?

exdsq 5y ago
You've been doing blockchain on-and-off since before the genesis of Bitcoin? What were you doing?
- deleted 5y ago
  [deleted]
- dijksterhuis 5y ago
  bitcoin.org site went live in 2008. white paper also published in 2008. > Nakamoto stated that work on the writing of the code for bitcoin began in 2007. On 18 August 2008, he or a colleague registered the domain name bitcoin.org, and created a web site at that address. On 31 October, Nakamoto published a white paper on the cryptography mailing list at metzdowd.com describing a digital cryptocurrency, titled "Bitcoin: A Peer-to-Peer Electronic Cash System". https://en.wikipedia.org/wiki/Satoshi_Nakamoto https://en.wikipedia.org/wiki/Satoshi_Nakamoto
  - exdsq 5y ago
    A white paper was sent to a small group of people in 2008, yes. But the group that acted on that is a subset of those people, that consists of maybe Hal Finney, Craig White, whoever Satoshi is, and a couple others. It's an extraordinarily small group of people.
- nl 5y ago
  Well, AI mostly. Let's just say I thought it was interesting but not worth pursuing. I just re-checked. It was actually 2009 sorry.
  - randomhodler84 5y ago
    Prove it. There are other 2009 era bitcoiners here who can vouch if you were there. The community was known in 2009. My x to doubt is because nobody claims to have “been in blockchain since 2008” it’s a give away that your talking trash. The Genesis block date was Jan 3rd 2009. You were talking to satoshi about Bitcoin pre launch?
    - peterangular 5y ago
      Yeah - agree... also anyone throwing out a quick "Let's just say..." immediately makes me question the legitimacy of their claims. It's a handwave at best, but most often I've seen folks use it to cover up a bs claim by being incredibly vague, all while attempting to come off as cheeky and intelligent.
    - nl 5y ago
      I can't of course. If I still had that wallet.. I'm not really a "true crypto believer" though. I do have this from 2014: Project Proposal: Data Rental using the Ethereum Blockchain, Spetember 2014 https://imgur.com/a/XLo2P3Z https://imgur.com/a/XLo2P3Z If you know the history of Ethereum you'll know that is pretty early. I was on the old "decentralization" Yahoo mailing list and the p2p mailing list back in the early 2000's too. If you can find an archive (which I can't!) you can check my background there.
      - randomhodler84 5y ago
        What I object to is any doubt that today it is unsafe for anyone to self custody given the appropriate operational security. A hardware wallet is probably sufficient for nearly all cases of even non technical user. Where people go wrong these days is a) phished [education, instruct never never type those words into the computer…] b) tricked approvals [just don’t mess with eth until you know what you are doing. You will probably get scammed cos eth had a lot of scams.] Self custody is a critical part of this ecosystem. It’s been the biggest mantra of the ecosystem, so I really don’t understand how you can think this is for a small segment. A vast majority of BTC and ETH is not on exchanges. It’s the entire point. What you are admitting to is saying “I was there at the start but I still don’t really get why…”
randomhodler84 5y ago
You mean you sent to an exchange address because you didn’t check the chain? Sorry mate. Not high scores for that. I’d your going to claim to be OG sign a message with the keys…
- nl 5y ago
  It was the Boba airdrop if you are familiar with that debacle. There was a L1 and L2 Boba address and and OMG address and the claim process instructions were... less than ideal. There were a bunch of people on the discord who did the same as me. > I’d your Let the person who has never made a typo be the first to throw stones.
  - randomhodler84 5y ago
    I was being rude. I am sorry for making a bad assumption about that. I’m not familiar with that one. I am pretty much a BTC maxi.
    - nl 5y ago
      > I’m not familiar with that one. I am pretty much a BTC maxi. Wait.. you are being critical of me and you are stuck on BTC? To put it simply, people who BTC Maxis in 2022 are like those people on HN at the Facebook IPO who didn't understand why it was profitable.
      - randomhodler84 5y ago
        I still don’t get why Facebook is profitable. I’ve never used their products and never will. Screw Meta.
        nl 5y ago
        Ah I get it. Your arguments are based in a religious faith in Bitcoin, not logic or economics.

by nl 5y ago

exdsq 5y ago

You've been doing blockchain on-and-off since before the genesis of Bitcoin? What were you doing?

deleted 5y ago
[deleted]
dijksterhuis 5y ago
bitcoin.org site went live in 2008. white paper also published in 2008. > Nakamoto stated that work on the writing of the code for bitcoin began in 2007. On 18 August 2008, he or a colleague registered the domain name bitcoin.org, and created a web site at that address. On 31 October, Nakamoto published a white paper on the cryptography mailing list at metzdowd.com describing a digital cryptocurrency, titled "Bitcoin: A Peer-to-Peer Electronic Cash System". https://en.wikipedia.org/wiki/Satoshi_Nakamoto https://en.wikipedia.org/wiki/Satoshi_Nakamoto
- exdsq 5y ago
  A white paper was sent to a small group of people in 2008, yes. But the group that acted on that is a subset of those people, that consists of maybe Hal Finney, Craig White, whoever Satoshi is, and a couple others. It's an extraordinarily small group of people.
nl 5y ago
Well, AI mostly. Let's just say I thought it was interesting but not worth pursuing. I just re-checked. It was actually 2009 sorry.
- randomhodler84 5y ago
  Prove it. There are other 2009 era bitcoiners here who can vouch if you were there. The community was known in 2009. My x to doubt is because nobody claims to have “been in blockchain since 2008” it’s a give away that your talking trash. The Genesis block date was Jan 3rd 2009. You were talking to satoshi about Bitcoin pre launch?
  - peterangular 5y ago
    Yeah - agree... also anyone throwing out a quick "Let's just say..." immediately makes me question the legitimacy of their claims. It's a handwave at best, but most often I've seen folks use it to cover up a bs claim by being incredibly vague, all while attempting to come off as cheeky and intelligent.
  - nl 5y ago
    I can't of course. If I still had that wallet.. I'm not really a "true crypto believer" though. I do have this from 2014: Project Proposal: Data Rental using the Ethereum Blockchain, Spetember 2014 https://imgur.com/a/XLo2P3Z https://imgur.com/a/XLo2P3Z If you know the history of Ethereum you'll know that is pretty early. I was on the old "decentralization" Yahoo mailing list and the p2p mailing list back in the early 2000's too. If you can find an archive (which I can't!) you can check my background there.
    - randomhodler84 5y ago
      What I object to is any doubt that today it is unsafe for anyone to self custody given the appropriate operational security. A hardware wallet is probably sufficient for nearly all cases of even non technical user. Where people go wrong these days is a) phished [education, instruct never never type those words into the computer…] b) tricked approvals [just don’t mess with eth until you know what you are doing. You will probably get scammed cos eth had a lot of scams.] Self custody is a critical part of this ecosystem. It’s been the biggest mantra of the ecosystem, so I really don’t understand how you can think this is for a small segment. A vast majority of BTC and ETH is not on exchanges. It’s the entire point. What you are admitting to is saying “I was there at the start but I still don’t really get why…”

randomhodler84 5y ago

You mean you sent to an exchange address because you didn’t check the chain? Sorry mate. Not high scores for that. I’d your going to claim to be OG sign a message with the keys…

nl 5y ago
It was the Boba airdrop if you are familiar with that debacle. There was a L1 and L2 Boba address and and OMG address and the claim process instructions were... less than ideal. There were a bunch of people on the discord who did the same as me. > I’d your Let the person who has never made a typo be the first to throw stones.
- randomhodler84 5y ago
  I was being rude. I am sorry for making a bad assumption about that. I’m not familiar with that one. I am pretty much a BTC maxi.
  - nl 5y ago
    > I’m not familiar with that one. I am pretty much a BTC maxi. Wait.. you are being critical of me and you are stuck on BTC? To put it simply, people who BTC Maxis in 2022 are like those people on HN at the Facebook IPO who didn't understand why it was profitable.
    - randomhodler84 5y ago
      I still don’t get why Facebook is profitable. I’ve never used their products and never will. Screw Meta.
      - nl 5y ago
        Ah I get it. Your arguments are based in a religious faith in Bitcoin, not logic or economics.