jtjwhite on Nostr: This 👇🏼 nostr:note1y7rj4xpqfhr3xgl9maulpz080cwqmkrjyu9qp5tzs8h8e6f4kl5sqvw7ec

quoting note1y7r…w7ec

Self custody of Bitcoin is vital for financial sovereignty. By controlling your private keys, you eliminate the risk of third-party failures or hacks. You become the sole guardian of your wealth, ensuring true ownership and security in the decentralized world of cryptocurrencies.

However the DeFi industry is catering to people who want to use Bitcoin in the same ways as the traditional investment industry: with leverage, derivatives, and more recently, bank bailouts. Exchanges are treated just like banks, will fail like banks, and the most politically connected will get bailed out just like banks.