Quote from: Z-tight on October 17, 2024, 08:27:50 PM

Quote from: telesnake on October 17, 2024, 03:08:15 PM

Cool, yeah. That would be the ideal. But honestly most people are too dumb for a hardware wallet, they will do something dumb like store their seed phrase in plain text unencrypted in the cloud or something...

If they really want to use BTC, they can learn all there is to learn, it is not hard. Backing up a seed phrase on paper and keeping it safe, if possible in more than one location should not be difficult for someone who is interested in storing BTC. Hardware wallets are also newbie-friendly, it is not complicated to use, i believe security is the most important factor to consider before buying BTC, and your funds is only secure if you have good opsec and if it is in your self custodial, open source wallet.

Again, that would be ideal, of course we don't live in an ideal world. You assume a lot. Hardware wallet makes more sense if you own a house and have a safe. What if you were homeless, digital nomad, or rent distressed? You gonna carry around your seed phrase in your wallet? "If you have good opsec" Your average Joe uses a smartphone and only knows how to install programs from the appstore.

I'm not saying PP is safe either. Personally I bought it on PP 5 years ago because at the time no exchange would deal with me as I was living overseas. So I'd rather have crypto on PP and be getting 150+% returns than not own any and get no returns.

Also, when I say "long term", I don't mean holding bitcoin for the apocalypse. Long-term = 1 year or more. I just want to invest and get the big returns. Moving it to an exchange is my goal so I can day trade and multiply those returns, which you can't do on PP.