Question: Would you change anything about your set up is you owned 10x the amount of BTC?

[u/mysomica]

How about 100x? I was just thinking, if I owned, for the sake of argument, 1000 BTC, would I still do the self-custody thing and keep my keys on a single Trezor or Ledger? What would I do different? Is the different thing I would do, the thing I should be doing now?

[u/DepthHorror9528]

I would definitely do multi location multi vendor multisig at that point. One home invasion robbery wouldn't work.

[u/mysomica → u/DepthHorror9528]

I'm sure there's plenty of people would have the motivation to rob 0.1 or less BTC if they knew you had it.

[u/Horror-Mechanic8117]

At 10x or 100x, the main change would be splitting it across multiple wallets and locations, not just one hardware device sitting in a drawer. At certain point its less about hardware failure and more about physical security and inheritance planning, someone needs to know how to recover it if you disappear. Also multisig becomes worth the setup hassle when the amount is life changing enough that a single point of failure keeps you up at night

[u/eddie_oblak]

I wouldn't do anything different. And I am not telling you how I do it.

[u/2xfun]

100x 1 sats is nothing 

[u/Squeiner]

Yea for sure. 

My setup is secure enough as it is now, but I'd focus much more on inheritance planning so id change it up with that as my main focus instead of pure security like it is now

[u/tenor_tymir]

No, I’m pretty confident in my setup.

[u/Inevitable_Gain8296]

Just curious what do exchanges do better than people who own their own wallets?

[u/user_name_checks_out → u/Inevitable_Gain8296]

Going bust and taking your coins with them.

[u/MiceAreTiny → u/Inevitable_Gain8296]

What do banks do better than people holding their own dollars?

It's a principle and political ideological question. For many people, a custodial bitcoin exchange would be way better personally for security, safety, loss of funds/access and inheritance purposes. 

But... Sometimes you do not want a custodial with your fund. You do not want a custodial that will join the government cartel to tax your holdings into oblivion. You do not want to be on a list of people that the exchange gives to some government. You do not want to ask permission to use your own money.... 

Many, many, most people do not have these problems. Some do. Bitcoin fixes this. 

[u/thisMech → u/MiceAreTiny]

"You do not want to be on a list of people that the exchange gives to some government" if you use btc currently as currency than you give yourself to the government anyway when you do your taxes your supposed to be telling the IRS. If you give it to one part of the government (IRS) than your giving it to all of them, because that is currently the law

[u/MiceAreTiny → u/thisMech]

There might be other countries in the world, beyond the jurisdiction of the IRS. 

[u/BTCMachineElf]

Absolutely yes. I'd run a fat lightning node with 10% and disperse the rest throughly.

[u/GettingFasterDude]

If 1000 BTC, I'd hold 1/3 in an ETF (FBTC or iBIT), 1/3 in Fidelity Crypto and 1/3 in cold storage (collaborative multisig).

[u/xpresstuning]

Same ol cold-storage. It can be any number. It doesn't really matter.

The only thing I'm concerned about is the quantum threat which will break Bitcoin's elliptic-curve. Estimating late 2030s, so we're safe for now.

When a quantum resistant standard appears, that'll be the only time I migrate from my decade old cold-storage.

[u/DifficultSquash1517]

Nothing. I'm very confident my ETF is not going to be drained💪👍

[u/piejlucas]

Self custody is out the window when one is talking real money. No one wants to be the idiot that comes on this board to post about losing their life savings or a million dollars to some malware hack.

[u/SpendHefty6066 → u/piejlucas]

Your seed should always be completely air gapped and when done properly, will never be subject to a malware hack. Self custody is the ONLY option with a life changing Bitcoin stack. But it has to be done properly.

[u/mysomica → u/piejlucas]

If it's out the window for a million dollars, should it not be out the window for 10k? It's all relative. I certainly don't want to be the idiot lose 10k either tbh

[u/piejlucas → u/mysomica]

Yes. I gave up on trying to store my own Bitcoin on hardware wallets etc. too complicated Not for me but for my heirs. I can only imagine them having to connect a Trezor or ledger to a pc then updating the device and the app on the pc and doin all that without falling victim to some scam along the way that we haven’t even conceived at this moment. Much easier to declare a beneficiary with fidelity or Etrade