Post
Topic
Board Bitcoin Discussion
Re: CZ Sentenced, Your Bitcoin in their Custody
by
Cookdata
on 03/05/2024, 16:33:35 UTC
Every bitcoiners should understand why they need to have in custody their own digital financial asset and not with third parties like exchange ss, they can be attacked, hacked and if any of these happens, our asset with them are gone, we should learn to avoid the use of exchange, hold our bitcoin on cold storages and remember that not your keys not your coins still ever remains verdict in bitcoin network.

I hope this crusade continues to ring in everyones ears because people will always do what they want no matter you share the bad side of centralized exchanges to them. Centralized exchanges looks simple and easy to use but the simplicity comes with a cost and that cost is not been able to be the custody of your privates keys and in a situation where unforseen event happens, you will be locked in with the rest of the people that love custodial platforms than self custody.

Funny enough, if CZ finally comes out of prison, he will be celebrated and the trust will even increase more but what many people don't understand is that the fight against custodial platform isn't about the trust, is about what will happen later that will is going to beyond their power to handle. If you check Binance reserve today, the Bitcoin is still in billions of dollars like nothing really happen. Sigh!