Summary
TLDR: There is a shift in the perception of ownership in the world of cryptocurrency, with more people trusting others to hold their coins for them, rather than keeping control of their own keys. This is leading to a change in the meaning of terms like “Uncle Jim” in the cryptocurrency community.
Key Points
1. There is a shift in mindset towards custodial services for holding bitcoin, rather than individuals holding their own keys.
2. The traditional saying “not your keys, not your coins” is seeing erosion in its significance within the cryptocurrency community.
3. The concept of “Uncle Jim” now refers to someone who custodies bitcoin on behalf of a family unit, indicating a change in perception around ownership and control of digital assets.