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depends on the type of institution but I think there is a lot of cope and hopium around this. wherever there is fiduciary responsibility, there is dramatic risk aversion. and it's not like that's a fiat invention, it exists for a good reason if you want to have any principal/agent risk in a complex financial system. what I do think is exciting, however, is multi-institutional multi-sig, which has no analogue in fiat and potentially gives those in that position the best of both worlds (or decent of both).
the more bullish answer is that wherever you don't have that risk to address, people will probably learn the hard way that they should indeed hold their own coins.
Thanks for the nuanced answer. It seems to me that self-custody is always going to be a long-shot for corporations.
But this still leaves the qualified custodians. I am surprised that there are so few (or perhaps I am just ignorant of how many there are). Do you worry about large pots of bitcoins piling up in the hands of a few custodians?
I think coinbase getting hacked would be the single best thing that could happen for bitcoin.
everybody (tries to) sell, price goes to (basically) zero, nobody mines, no blocks or all blocks are attacks, no nothing, it's over.
or people just lost their seed...
You are asking the guy that can't remember how signup on SN how to hold the bitcoin keys for institutions?
😂😂
Guys, let's be serious...
Despite last year's fabulous Bitcoin treasury summer, it doesn't seem to me that very many institutions are holding their own keys. Do you think institutions will ever be strongly interested in self custody of their own bitcoin?