Self custody doesn't require using a hardware ledger, and such gadgets represent a very small minority of self-custody wallets. In addition, there are noteworthy non-security risks when using an exchange. There's fraud, illiquidity, new legislation, asset forfeiture, and innumerable other reasons why an exchange might prevent you from withdrawing your funds. I think it's naive to suggest that self-custody is just a novelty with no value.
> Self custody doesn't require using a hardware ledger
Does this mean you recommend not using one? Because that goes against all the common best practice recommendations from when I did a couple of years working in Web3 stuff a few years back.
> I think it's naive to suggest that self-custody is just a novelty with no value.
That's not what I suggested.
I suggested that it is less secure over time than centralized exchanges, even with the things you listed.
How can self custody be a novelty when it is the original way and predates exchanges...
This is a silly comparison. Dip pens are a novelty, and predate every other pen type.
Records are largely a novelty. And predate streaming services.
I'm fairly sure originals are almost universally novelties compared to things that came after.