From what we know, they all do this.
The #timelock locks funds for an amount of time, eg. 6 months. Until a timelock expires no one can access the funds unless the 3rd-party signed-off on a successful 2FA check.
After the timelock expires however you can use the funds like you normally would, ie. without the third party.
In terms of (1/2)
It is drummed into anyone researching this stuff, "Not your keys? Not your #bitcoin." Or don't leave your funds on an exchange.
Thanks for thinking about these issues as they are so important.
A concern for all systems that are large, fiat takes the cake. Bitcoin has is designed to resist centralisation.
Fee aren't high. Especially if we think of bitcoin for storing value over years to decades.
So maybe every ten years or so one will need to #atomicSwap (read:convert) bitcoin to something with greater #liquidity. That space is evolving. Some say LTC, BSH, Zcash even Monero. These more liquid layers will ultimately be what is used day-to-day.
For the time being you can do the quarterly transfer to your local independent grocer with it, because it's still in its early days.
But looking into the future, bitcoin is not something to use on a yearly basis, no. The same way you wouldn't dip into the "Savings" account everyday, we put the word "Savings" in quotes for a reason.
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