$9,229.08 0.08%
BTC · 25w

Don't trust. Verify!

### What can be done to improve the general users' awareness of security issues? The average Bitcoin user is quick to spread memes like "verify all the things" or ["don't trust. Verify!"]( but then goes on and uses custodial services to store his bitcoins or doesn't care that nobody does verify the software they use, as long as it's open source. Probably people think that somebody else in the community is doing the verification and indeed, bitcoin core is highly scrutinized and the binaries are independently verified by many more than one person, yet the majority of wallets deployed are not bitcoin core or desktop wallets in general, where verifiability is more common. The majority is mobile apps. My field of expertise is Android and there, the situation is really grim: * Coinbase - a custodial service - has more than **10 million downloads**. Another **3 million downloads** are spread out over other custodial "wallets" * Luno, Coinomi and all claim to not be custodial but they are closed source - having a **million downloads each**! (Yes, Coinomi is closed source!). Another **1.5 million downloads** can be found across other closed source "non custodial" wallets. * "Blockchain Wallet" by has **5 million downloads** and while they claim to be open source, their builds cannot be independently verified. There is another **3 million downloads** across other wallets in that category. * Only **2 million downloads** are shared between verifiable wallets on Android. "Being your own bank" is not the only viable option but ... * **Custodial services** are of course the least verifiable. They are subject to * hacks * "hacks" (inside jobs) * regulatory oversight (read: sorry, without further KYC you can't have your bitcoins back) * fractional reserve (the bitcoins you "own" don't exist) * lack of control (those fork coin "airdrops" we won't do and by the way, "Bitcoin wood"...
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