Quote from: Who is John Galt? on June 11, 2023, 11:24:33 PM

If I wanted to entrust my money to someone, then the choice immediately becomes so big, everyone wants to "help" me cope with all the difficulties that I may encounter. Such kind people! And as soon as my funds are not with me, it suddenly turns out that for my own safety, I can’t use my money in any way unless I go through the KYC procedure, which is approved by whoever now controls my money. And then suddenly I'm not me anymore?

All working as intended. Hand over your coins to centralized third parties, they will invest/loan/gamble/spend/steal your money to make profits for themselves while passing all risk of loss on to you, and if you want to actually get your money back then they will make it as hard as possible for you to do so. Look at the multitude of centralized third parties which were doing exactly this over the last few months - FTX, Celsius, Voyager, BlockFi, the list goes on. And now all the users of all those platforms have lost everything.

It is insanity for anyone to still store funds on a centralized exchange.

Quote from: Jon_Hodl on June 13, 2023, 07:27:42 PM

I know we all say it but "get your coins off of exchanges as soon as you can."

Go one step better: Don't use centralized exchanges in the first place.

When I first got involved with bitcoin, it took real effort to avoid centralized exchanges entirely and to only buy and sell completely peer to peer without any third parties. As time has gone on, it's become easier and easier. There are now multiple platforms to choose from, with built in non-custodial escrows and other such features which make the process faster and safer than ever.

https://kycnot.me/