HODL on Nostr: When plebs think about using the service it’s mainly about the trade offs ...

When plebs think about using the service it’s mainly about the trade offs surrounding cost and privacy.

You can’t have private insurance. It’s not possible so your stack is KYC’d etc… and in addition you need to find someway to offset the annual premium cost.

That said you’re getting a guarantee you make it from here to there with your stack intact. Which is huge. I know every Bitcoiner has the risk of ruin in the back of their mind constantly.

The fact that there could be some critical flaw in our self custody set up is the thing that keeps many of us up at night.

With anchorwatch you hold the keys and they hold the risk.

So it’s a game changer in that regard.

I don’t worry about insurance fine print or whatever. Firstly I know the team well obviously and they are the underwriters. Secondly AW has a procedure for how you are to secure the devices etc… and as long as you follow instructions you are safe in a loss event.

Plus on top of all this you have the time lock.

The bitcoin literally can’t be moved during the time lock period.

And then you get the benefit of inheritance planning etc… lots of positives.

The negatives again are mainly cost and privacy.