Re: The risks of self-custody outweigh the risk of exchanges
Bitcoin can be used as a unit of account without a problem. Also markets always exist, no matter if scam exchanges go bankrupt or not.
P2P and adoption are more important, but then again you trade a multiple coins.
Tadamichi too stupid and doesnt understand money so it pointless discussing with you.
You dont understand it fool. CEXs arent the entire market. Theyre not necessary for an asset to find a price. They would make this process more efficient if used right, but in the current environment they just distort the prices by their own actions. Even if 100% of people self-custodied, trading would still go on. Trading goes on outside of exchanges too and there are exchanges that dont hold any funds themselves and allow their users to do it themselves. Even if Bitcoin is used directly there can still be a fiat value attached to it, by the fiat value of the good. Which one of your idols told you that your asset wont have value if scammers dont run websites where they take your assets and distort the prices and supply? Self-custody is the point of any decentralized asset (theres just one currently), without self-custody all the properties of that asset are lost.P2P and adoption are more important, but then again you trade a multiple coins.
Tadamichi too stupid and doesnt understand money so it pointless discussing with you.
More like Dummy Alert, each bank in the US is required by law to have FDIC insurance,
If you think a broken vehicle is safe/ gets you to your destination forever, because its insured - good luck.If Crypto exchanges were required to insure their accounts up to $100000 , then alot of the exchange concerns would disappear for the majority,
You just wont get it. FYI:
Once the US / Canada / Europe all ban Proof of Waste coins, you'll wish you had diversify.
When all of your wealth shoots up in 1 shot, it can also fall down twice as fast, diversity makes sure you don't starve when it does.
Good luck with diversifying into the same scam. Also i dont live in a banana republic where people starve based on how their investments perform or a place where they put themselves into that situation. Maybe thats why your mentality will always stay a fiat sheep that worships big centralized entities, because you think you have no other choice to survive. Wake up.Once the US / Canada / Europe all ban Proof of Waste coins, you'll wish you had diversify.
When all of your wealth shoots up in 1 shot, it can also fall down twice as fast, diversity makes sure you don't starve when it does.