[notfed]

"Mom, I already told you: you have to generate a key pair, split the private key into three parts using Shamir' secret sharing algorithm, then give each part to three banks. Whenever you want to use it, you have to go collect it from each of those banks---but DON'T write it down anywhere---and perform your transaction"

And to think the conversation started with an observation that people can't even remember one password.

[rkagerer]

I agree, there's miles of runway remaining for improving the UX. I actually think it'd be neat if a crypto had this (and a few other things) as a baked-in feature. i.e. In order to create a wallet in the first place, you need to identify e.g. 5 trusted friends who'll serve as recovery partners. Maybe it's initially tied to the same invite mechanic used to join the ecosystem. Could be done in a privacy-preserving (and to some degree anonymity-preserving) fashion. The right UI could make this even simpler than recovering a Gmail account. Everyone would just have it set up, and these conversations about losing your keys would be a relic of the past.