Hi,
This time, let's discuss the terminology being introduced by regulators around the world relating to crypto assets. More specifically, "unhosted wallets". Why?
It is a systematic attack by regulators and politicians in the Western world, who are using terminology to deceive the uneducated people and to present one of the key elements of the sovereign management of money as something bad.
"Unhosted wallets are wallets that are managed by you and no one else. There is no third party that you need to trust or ask for permission to access or transfer funds. A more appropriate and established term is self-hosted (private) wallet. To bring this into the fiat world, we can call it a cash wallet. So, we are talking about cash in your pocket that is yours and yours alone. You can spend it on anything, without the need to ask anyone for permission. Anonymous.
It is not surprising that surveillance systems want to restrict and eliminate cash, because cash does not allow them to control people and spending. The same applies to unhosted wallets. It eliminates control systems and allows the individual to manage funds sovereignly, pseudonymously.
In the near future, the mass media will try to convince you that hosted wallets are normal. A must-have and a guarantee of security. The truth is anything but that.
Avoid hosted wallets (aka custodial wallets). They work in the same way as bank accounts. The funds are never yours and you are dependent on the permission of a third party. Only cash and private (non-custodial, self-hosted) crypto wallets enable you to be sovereign and free.
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