Wisdom

Your bitcoin lives on the chain, not in the wallet

Quote

if you have control of your own keys, then even if the infrastructure underlying your wallet goes away, you can go and spin up a wallet in a different location. reapply your keys and your funds are still there like you, you don't your your funds live on the chain, they don't live in the wallet.

Episode 123: Get Off My Chain! (episode page, opens in a new tab) 00:45:57 (play audio from this timestamp, opens in a new tab)

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Summary

If you hold your own keys, losing a wallet's infrastructure only costs you functionality. You can restore the keys elsewhere and the funds are still there.