Quote from: o_e_l_e_o on April 23, 2023, 10:02:47 AM

Quote from: John Abraham on April 23, 2023, 06:28:26 AM

Guess what? Very few people read that, and I don't think people are interested to know what is hiding behind their TOS.

Goes right back to my point about: Laziness and greed.

When the likes of Voyager and Celsius were offering 80% interest or whatever ridiculous, obviously unsustainable percent they were offering, people signed up and threw their bitcoin at them without a second thought. Even when I posted repeatedly about how these platforms' Terms of Service clearly said that they would be lending and spending your coins without any kind of protection, collateral, safety nets, etc., people in those threads didn't care. And then when these platforms went bankrupt, almost everyone who used them was surprised to learn what was going on behind the scenes, despite it being clearly spelt out in their Terms right from day one.

People don't care until it is too late.

They simply beleive in what majority is doing and are lazy but the greed factor constantly drives them to these platforms and deposit their funds with them forever.The 3AC meltdown and voyager becoming bankrupt was a lesson for these people that they are actually using your money not thier own funds so at last it's your loss but still they keep repeating the same shit and having their funds with these centralised platforms.They simply don't care to look at these details where they clearly mention about that your funds are their and can be used according to their wish while you can't have right over it.The coinbase SEC filing also disclose that user funds are not liability but company's assets which can be used to pay off debts in case of bankruptcy so what else do you expect from them? But as usual the percentage of these people is huge until it happens with them.