finpotatoe on Nostr: I think Bitkey is much more popular than we think. We just had Odell say how ...

I think Bitkey is much more popular than we think. We just had Odell say how impressed he is with the device and how refreshing the device is to this market. I see reviews from people about how they were able to get there grandparents to self custody there Bitcoin. It really is one of the simplest wallets out there. When there is actual innovation like Bitkey, it will take a while for adoption from the “self-sovereignty idealists” to accept something like Bitkey. I think they are loud voice in the wallet space and will just take time.

I also don’t think people know what to do with it and in effect don’t know how to review it. You also find many actually that don’t understand security or threat modeling, and in turn don’t know how to give their own take or review. Many just copy what others say and think. Like the idea of Bitkey not having a screen came from WalletScrutiney and everyone mimics what they said. I think many are waiting to see if this thing flops or has some flaw.

Personally, It is a very well-thought of custodial 2/3 multisig wallet that allows you to own your keys and as Matt Odell says, “Even if you tried to lose your generational wealth, you couldn’t with Bitkey.” I’m excited of the potential of Bitkey and how they will think through advanced features like exporting keys, coin control, etc. Personally, I would love it if they supported PassKeys.

I will say think the only review that I know of that had the best constructive criticism was from them ceo of nunchuk. There are concerns around the “delay and notify” recovery method which if popularized could incentivize kidnapping.

What he also questioned was about whether Bitkey has a strong enough business model to up hold its promises or guarantees for just $150 a month. It might mean they were hoping it would help cash app make more money or they will eventually be coming out with subscription models like Nunchuk and Unchained Custodial to help make them money and to continually improving the technical implementation and security of the solution.

I personally think Bitkey has the support of a billion dollar company whose primary focus has to be security because they are a bank. So as Cash app succeeds, I think Bitkey succeeds. With out Cash App, I don’t think you could have a $150 wallet with the same features and no subscription.

Eventually, I think it’s the solution that many online banks should model if they decide to support and hold your Bitcoin.

To me, I think it would be cool, if there partners like Coinbase and cash app, could eventually be banks like Bank of America or Chase. Don’t know how you could do it, but I could see where banks could help offload some of the overhead that Bitkey share with Cash app.

But the overall potential of this product and to see where it develops and matures to me is exciting and I’m sold on Bitkey as a wallet and trust in Cash app as a service since I’ve used them for years.