IPFS does not work when /home directory is not readable - /home/myusername/snap/ipfs/1912: Permission denied

When I type "ipfs daemon" I get error message "cannot create user data directory: /home/myusername/snap/ipfs/1912: Permission denied".

I solved this by making the /home directory readable:

chmod o+r /home

It make no sense for the IPFS to require read access to the /home folder. All other programs are working fine. But ipfs does not like it.

I tested "what could go wrong" when made "chmod o-r /home". I only noticed problems with IPFS.