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Showing 12 of 12 results by WalletPilot
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Re: Simple quiz to help people select a self-custody model
by
WalletPilot
on 02/07/2025, 13:30:14 UTC

I haven't removed the quiz and it should be working - https://www.walletpilot.com/custody-compass/model-finder. Please let me know if you have any issues accessing it. Thanks and look forward to your thoughts.

It is accessible now.  It would be nice if you could edit your OP and input this new link you have provided here, so that it would not be difficult for others to access, just like as I had to called your attention to it because there are people who would want to access it too without wanting to make any statement here and go their way but for the fact that they could not access it, they would just silently go their way and not say anything which would hamper the real reason for which this thread and research was initiated as the turn up would not be that encouraging for you to get an accurate percentage to get a final reolve.

Thanks. Done. I didn't realize that I had a typo in my OP and was missing the www  🫢
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Re: Simple quiz to help people select a self-custody model
by
WalletPilot
on 02/07/2025, 13:07:45 UTC
Perhaps a quiz that looks strictly at financial behaviour without assuming crypto-specific knowledge is best? I find the use of terms like DeFi and cypherpunk very leading. One would assume, of course, that cypherpunks don't need to ask themselves these questions, for instance?

The very first question (if I select the middle ground starting point), should be avoided. What's a private key? Most normal people would stumble over the definition, and many who started with self custody probably don't know their private key (instead, know a seed phrase). Question #2 starts correctly.



You're right. Someone self-selecting as a Cypherpunk doesn’t need a quiz to help them choose a custody solution. The original idea behind the labels was to help pre-fill placeholder answers and make the quiz feel more approachable for beginners. I included the Cypherpunk profile mainly to round out the spectrum.

Now that pre-filling has been removed, the labels might not serve much purpose anymore and could be removed.

More broadly, you’ve highlighted something important. I want to design the quiz for beginner to mid-level users - those who can actually benefit from the information provided in the results. Tightening the focus and simplifying the language is the right call. Thanks! I will tweak it.


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Re: Simple quiz to help people select a self-custody model
by
WalletPilot
on 02/07/2025, 12:36:50 UTC

I find this research very interesting, as it would be of help to beginners who find it difficult to set a wallet and also to save their seeds. As a result of this, many enthusiasts resort to keeping funds and assets with an exchange, which is very risky and has made many lose their assets to hacking and theft, as the case may be. I believe the outcome of this survey would also have of positive impact on the crypto community in the long run. However, I have tried taking part in the survey, but the link is not accessible. Have you removed it, or is there anything wrong?

I haven't removed the quiz and it should be working - https://www.walletpilot.com/custody-compass/model-finder. Please let me know if you have any issues accessing it. Thanks and look forward to your thoughts.

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Re: Simple quiz to help people select a self-custody model
by
WalletPilot
on 02/07/2025, 12:34:40 UTC
Thanks for the feedback. Will remove the pre-selection of answers. Was experimenting with the UX and its better w/o the pre-selection. Good point regarding the wallets. I will update the listings.
I assume the update is yet to come? I've tried using your website with a beginner profile, and the questionnaire comes with pre-selected answers. I was thinking the pre-selected answers are the highest possible answers a beginner can choose at the beginning.

I got the recommendation to use collaborative multi-sig with the default option, too. I guess it's quite familiar since beginners probably have experience with a trusted provider to protect their wealth. That being said, how was the number calculated? There's quiete a big gap between each recommendation.

Yes, I only made the change just now. Sorry for the delay. Now, there are no pre-filled answers.

I will create add a page which details the methodology and logic behind the quiz.
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Re: Simple quiz to help people select a self-custody model
by
WalletPilot
on 01/07/2025, 12:12:26 UTC
I'd be keen to hear your thoughts on whether you think that the Custody Model Quiz help guide users in that direction?

I am not sure, but it suggested me to use a custom multisig setup, which is good because it's not far from the reality. Of course I am not using this system only, but it's certainly a good thing that the quiz suggested me to do what I already do. It has some accuracy.

It's a good endeavour, don't get me wrong, but I can't think as a beginner very easily, because I 've already gone deep inside the rabbit hole. Perhaps some other users who think they are "beginners", could give a better answer.



From a broader population perspective, you are perhaps in the sub 5%! Majority don't have the technical skills or desire to manage their own multi-sig setup. The quiz only points people in that direction if they score high on technical ability, privacy preferences, and related factors.
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Re: Simple quiz to help people select a self-custody model
by
WalletPilot
on 01/07/2025, 12:05:00 UTC


I think it is a pretty good start regardless. Short, quick, easy to navigate to. People could do whatever they wanted with the advice they were given. It could be a guide but doesn't necessarily mean you have to follow it religiously. At the end of the day, it still depends on what resonates with you the most. This is quite impressive, though.
[/quote]

Thanks! Yes, the quiz is very much meant as a guide, something people can choose to consider or disregard. Over the years, I've met so many people who just couldn't get comfortable with idea of being solely responsible for managing their private keys and prefer to leave their Bitcoin on exchanges as a result.

The goal with the quiz is to help people realize there are other options, like collaborative custody, and to guide them toward setups that align with their needs, skills, and comfort level.
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Re: Simple quiz to help people select a self-custody model
by
WalletPilot
on 01/07/2025, 11:21:03 UTC
I like the idea, but I think I still prefer this article: https://blog.lopp.net/how-to-back-up-a-seed-phrase/

It's essentially a detailed comparison of the standardised options that a bitcoiner has. It doesn't touch custom solutions, which is good because most of the times, a custom solution is dangerous.

I think the article addresses topics that are downstream of what the quiz is trying to solve. The best way to secure and backup a seed phrase is greatly influenced by one's setup. The ideal setup in turn is a reflection of their comfort with levels of risk and responsibility, technical ability, privacy preferences, and even inheritance considerations.

For example, someone using a single-signature Coldcard setup faces different seed storage and single-point-of-failure considerations compared to someone using a 2-of-3 multisig setup with Casa. Their security assumptions and threat models are not the same.

The quiz doesn’t aim to recommend custom solutions. My goal with the quiz is to help people discover what type of setup might best suit them. Is a collaborative custody model like Lopp's Casa appropriate given their needs, or are their privacy needs such that any third-party involvement is a dealbreaker.

Would be keen to hear your feedback on whether you think that the Custody Model Quiz helps with that?
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Re: Simple quiz to help people select a self-custody model
by
WalletPilot
on 01/07/2025, 00:20:22 UTC
I would also not recommend Ledger maybe only to users that need a decent hardware device that supports many blockchains. I don't think there are that many hardware wallets that support many coins, the list what Trezor supports is different from Ledger.

Thanks for the feedback. Will remove the pre-selection of answers. Was experimenting with the UX and its better w/o the pre-selection. Good point regarding the wallets. I will update the listings.
I wonder if it would be better to have the whole survey on the same page instead of having to click the next button each time for every couple of questions. What do you think?

Good question. I don't have a strong view on this. For example for the hardware wallet quiz, I have a single question on each screen, and the screen transitions to the next question when a choice is selected. I think this works pretty well from a UX perspective.

For the custody model quiz, which is a mix of different types of questions (slider, multiple choice, etc.), not sure what is the best UX. Hoping to test it as I get some volume.

For Ledger, I am trying to do what you suggest. It is only part of the recommended list. (in the Hardware Wallet quiz), if the user indicates that they want support for a wide variety of DeFi tokens. And then I call it out and request the user to to confirm that it is a real need for them with the below callout.





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Re: Simple quiz to help people select a self-custody model
by
WalletPilot
on 30/06/2025, 23:36:37 UTC
Would really appreciate feedback - I am debating whether it would be better to create more prescriptive recommendations or the current format of generalized, educational approach can help more people actually take action?
It would be better to allow users to choose answers on their own, instead of pre-selecting answers for them.

I would also be careful with recommending anyone ledger closed source devices, and ledger model S stopped production.
Even old Trezor One is not good choice for multisig setup and I would not recommend it.

Thanks for the feedback. Will remove the pre-selection of answers. Was experimenting with the UX and its better w/o the pre-selection. Good point regarding the wallets. I will update the listings.

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Re: Simple quiz to help people select a self-custody model
by
WalletPilot
on 30/06/2025, 23:31:14 UTC
In my opinion, it is not a good idea to pre-select the answers to the questions based on the respondent's self-classification.

It introduces a bias because the respondent is likely to choose the answers that you have already chosen for them.

Without the bias, you would have the opportunity to compare the answers with the self-classification to gain more insight and to improve the analysis.

Thanks! I agree. I was playing around with the UX of pre-selected choices but the bias risk is high. Will remove it.
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Re: Bitcoin is the only one reaching new highs
by
WalletPilot
on 30/06/2025, 14:07:35 UTC

I have nothing against wanting to invest in altcoins. But I do believe that only very few and close to little altcoins will reach new ATHs. Maybe they will just rise for a few times but ethereum or xrp may not reach their ATHs again. There are other reasons why one would want to invest in altcoins like transactions purposes but I believe if you are hoping to see a coin reach new ATHs this cycle, it will only be bitcoin.
Yes, it seems there is no more season for altcoins as there always used to be. If there were to be a season for altcoins by now, they should have risen to a certain price. In fact, the way altcoins were trying to pump when Bitcoin’s price was leading to $100k shows that all these altcoins like Ethereum, Solana, and BNB and others would not be at the same price now. So, I also think there will be no new ATHs  for most altcoins. In fact, even those altcoins that reached ATHs are mainly from projects that just launched, not over a long period.

But the reason many altcoins will not reach ATHs again is that people are now wiser. Many altcoins are just a game, and if someone isn’t smart enough, they will be the ones used to cash out big bags. Also, I think the main cause of these altcoins not having solid investors anymore is that it seems the same big investors and developers are behind many of these projects. So, there are no more big funds to pump and later dump the coins and the and average and small investors
in crypto industry are now wiser and prefer projects where the risks are more consider,so them are now investing bitcoin.


Speculation is as old as the hills. Every cycle, people including many bitcoiners want something to speculate upon. For some, the itch for the 100 bagger will always be there and each bull market, some part of the market will come up with the narrative and the product to satisfy it.

It is possible that a key reason, altcoin activity is rather subdued this year is that BTC Treasury companies are satisfying that itch. Many OGs are heavy in these plays and a lot of money being made by the insiders!
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Topic OP
Simple quiz to help people select a self-custody model
by
WalletPilot
on 30/06/2025, 09:09:44 UTC
I’ve been exploring how to make self-custody more approachable for the average person. As I’ve learned more myself and encouraged others to move off exchanges, I’ve started to think:

1. Single-signature hardware wallet setups are not necessarily the right starting point for everyone - some just don’t want the responsibility of managing their own keys.

2. Diversifying across custody models (collaborative multi-sig, single-sig, DIY multi-sig), matched to individual goals, tech-comfort and stack size, can help reduce initial fear and decision paralysis.

To test this, I've built a short quiz to help people discover custody models aligned with their preferences.

Would really appreciate feedback - I am debating whether it would be better to create more prescriptive recommendations or the current format of generalized, educational approach can help more people actually take action?

The quiz is here -  https://walletpilot.com/custody-compass/model-finder.

No sign-up or any info required. It's 9 questions which score custody models from exchange-storage to DIY multisig. Would love your thoughts 🙏