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Replying to Avatar btcschellingpt

#Bitcoin is yours when, and ONLY when, you control the keys

Ipso facto, wallets controlled by others, whether or not they are wrapped in some level of shiny legal recognition, *cannot* hold YOUR bitcoin; they are custodians and you hold a (hopefully redeemable) IOU at best

Bitcoin's history, and the general crypto-scene more broadly, has a litany of failures, theft and outright exit-scam frauds that have driven this harsh lesson home over the last decade

The fantasy of regulated custodians for bitcoin is just that .. a fantasy. Prime Trust in the US is a classic example of a regulated custodian that imploded through .. let's call it .. mismanagement. This is important to understand as Bitcoin is absolutely scarce - so there can never be a backer-of-last-resort to bailout incompetence, fraud and outright theft

Others, by definition, cannot hold your #bitcoin for you

Reject the messaging that Bitcoin is safe with anyone else

#Bitcoin is yours when, and ONLY when, you control the keys

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Sound Money 1y ago

Code is the ultimate law. Not everyone has received the memo. 🤷‍♂️

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