A Seed Phrase Isn’t Self Custody, It’s A Liability.

Bitcoin has always exists, the ability to self-monopoly-the ability to deal with your own wealth and maintain it without the need for a third party medium such as a bank or another financial institution-was essential in the offer.

For some, self -custody is a firm belief that “be your bank.” For others, it is a practical step taken to protect one of the valuable assets that could be-and-to-exchange for breakthroughs, mismanagement, or collapse similar to FTX. It is somewhat similar to keeping safety full of money at home, if there is a tour of the “bank”, then your currencies are giant immune.

Although “how” self -incubation changed models during the history of Bitcoin, the realistic industry standard today for recovery – the phrase seeds – leaves users in a loss (sometimes enormous) when things get worse.

Discrimination without difference

In the early days of Bitcoin, there was only a self -incubation. At the risk of exaggeration, self -incubation meant managing special main materials – a series of 64 random characters gave those who obtained the right to bitcoin. Special key management tools were very limited: save or write and store them in a safe place. But put only one character in place, pardon, your key does not work. Even if you do everything right, there is still a real possibility to lose – to steal, accident or disasters.

Seed phrases aim to make private keys easier to manage. Instead of securing long chains of random letters, Bitcoin-39 (BIP-39) suggest Let a handful of simple words stand mainly to a private key. As long as you have the correct sequence of words, you will always get the same special key and your money will be accessed.

Although it is definitely easier to deal with some common words of a long series of letters, the risk of loss through human error, theft, or disaster is the same with the phrase seeds as they were with special keys. For anyone who has a backup copy when they really need it, this is a distinction without a difference. When it ended, it is over, and there is no restoration.

The security of the Stone Age exceeds the age of the space

Somewhere along the way, the full idea of ​​the self -body became synonymous with the seed phrases in the minds of many people. But self -incubation is not an object; It is the ability. Seed phrases are much more responsibility than the ability.

Certainly, the phrase seeds allow you to renew your keys or transfer your money easily to another portfolio, but it allows anyone to see them even for a short time as well. It is a nuclear option – a option that gives anyone with access to its entire load. For this reason, most people who use them have to rely on very old security measures to protect them: burial, use book zeros, distribute copies and bury them, seal them on heat -resistant alloys, etc.

But the idea that the high security of digital criticism can be anything close to burying coffee within the limits of the backyard on the absurdity. This is the security of the Stone Age of the origin of the space. The idea that the only recovery tool for most people is something they can easily lose the question: If you can lose it easily, is it an ever recovery tool?

Managing the phrase seeds may be better than dealing with special main materials, but it is still not good – not for safety or safety, not for the user experience, and in the end not for Bitcoin’s growth and its widely adopting.

The future of money should work like the future of money

Bitcoin has started itself as it is, and aims to be, electronic criticism. It eventually software, intended to be used for use. For many people, its insurance has become a source of extreme anxiety and practical difficulty. There is a better way.

The future of money should feel and work like it, and in the end it is guaranteed like the future of money, not before the money for a long time. You should open new potentials, inspiration, and be intuitive and even enjoyable use – and you should not lose access to your metal currencies just because you make a mistake or lose a slip of paper.

Even hardlinners, self -self -bitcoiners will recognize: Seed phrases are pain. It is the Stopgap Clunky and the final game was not supposed to be a sophisticated currency. We must stop treating them as if it were the characteristic of the self -nursery.

This is a guest post from Max Guise. The opinions that are expressed are completely property and do not necessarily reflect the views of BTC Inc or Magazine Bitcoin.