Exchanges are a risk.
Most should now since there are a few that have gone tit's up.
A more hidden issue is that you lose control.
Not owning your keys is an attack vector on the whole #Bitcoin system.
You don't know if the exchange keeps your coins in their possession or sells borrow them to others for a yield.
This causes two, or more, people to THINK they own the same #Bitcoin.
This is an undermining of the hard cap of 21 million.
Can effect price discovery, cause inflation, and if both ckaim their #Bitcoin one of them finds out he has only a claim...
These effects will effectively render the whole #Bitcoin system to nothing better than current fiat system if enough people give up their private keys.
Realize what we have.
A new shot at freedom.
But there is a price to pay.
We must keep ownership of our bitcoin.
Store your private keys on your hw wallet !
Starve the beast.
/ FreeYoda
npub1fp…nfr2h
2025-04-30 06:18:38
in reply to nevent1q…3rgs
Author Public Key
npub1fp685rwn5pecyxu7edf49g9r8630tdm440srjvjq5psmtklg56lscnfr2hPublished at
2025-04-30 06:18:38Event JSON
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"content": "Exchanges are a risk.\nMost should now since there are a few that have gone tit's up.\n\nA more hidden issue is that you lose control.\nNot owning your keys is an attack vector on the whole #Bitcoin system.\nYou don't know if the exchange keeps your coins in their possession or sells borrow them to others for a yield.\nThis causes two, or more, people to THINK they own the same #Bitcoin.\n\nThis is an undermining of the hard cap of 21 million.\nCan effect price discovery, cause inflation, and if both ckaim their #Bitcoin one of them finds out he has only a claim...\n\nThese effects will effectively render the whole #Bitcoin system to nothing better than current fiat system if enough people give up their private keys.\n\nRealize what we have.\nA new shot at freedom.\nBut there is a price to pay.\nWe must keep ownership of our bitcoin.\nStore your private keys on your hw wallet !\n\nStarve the beast.\n",
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