Self custody is not reliable

[laspol65]

People needs to trust Blackrock, fidelity, and others than self custody, but nothing beats self custody even after what happened, this attack will be an eye opener to why you and I should be picky when it comes to self custody.

Self Custody is still Superior to centralised options, with multi signature setups and 100 Dice rolls your wallet will be more stronger than ever

I am speaking for myself here, I cannot imagine keeping my own assets or my Bitcoins anywhere else. I use a software wallet because I have a small amount of Bitcoins, because I keep my seed phrase in a very safe place. I trust it because I know that the more secure my wallet seed phrase is, the more secure my Bitcoins will be.
 So I cannot transfer my Bitcoins to anyone other than myself or give them to anyone else to control.

[AgriTrack]

I am speaking for myself here, I cannot imagine keeping my own assets or my Bitcoins anywhere else. I use a software wallet because I have a small amount of Bitcoins, because I keep my seed phrase in a very safe place. I trust it because I know that the more secure my wallet seed phrase is, the more secure my Bitcoins will be.
 So I cannot transfer my Bitcoins to anyone other than myself or give them to anyone else to control.

Even those who were using coldcard wallets were sure that they were completely safe because their wallets are not online and there is absolutely no risks at all until this attack took place and stole so many bitcoins from so many people, and now people realize that nothing is always completely secure unless you take extra precautions. If those people had encrypted their wallets with password phrases, they might have not lost their bitcoins even if their seed phrases were exposed to the attackers, but what is done is done, and others will now learn from the mistakes of the victims of this attack for sure.

A lot of people won't be able to easily trust hardware wallets for some time now, they might prefer centralized exchanges over hardware wallets when it comes to the security of their funds, and some will still use them but now will make sure that their wallets have passphrases as well. Those who have old wallets might think of purchasing new ones if they plan to keep using hardware wallets and even those who are not using coldcard will do this for sure, because fear will not let them rest and be easy after this incident.

[Orpichukwu]

If someone is convinced that they are not even capable of handling their own assets, then they shouldn't have assets, it would be better if they just go back to being slaves and served their master according to the commands. That is exactly what these institutions are trying to replicate, but in a bit softer version.

I don’t know the kind of belief that those people even have that it could easily be influenced by an event, as if they were just waiting for a reason for their trust to start failing away. The recent COLDCARD incident was a shock to many of us, but it’s not enough for someone to consider self-custody as a threat.

[Z-tight]

I don’t know the kind of belief that those people even have that it could easily be influenced by an event, as if they were just waiting for a reason for their trust to start failing away.

The Coldcard event is a big one, you cannot take it lightly. People lost their money in a hardware wallet that they trusted to store their life savings and it is unfortunate that they lost it because of some silly firmware bug that the Coinkite developers allowed into their device.

It is easy for you to blame people who are no longer sure about self-custody after this event, because you didn't lose anything. Don't get me wrong, i am not one of such people and i still believe in self-custody and i would only recommend it. However, i can understand why certain people would wonder if custodial storage would work better for them (even though it isn't a good option).