If it is custodial, it is an IOU, not Bitcoin.
Those IOUs can also be printed by the mint arbitrarily and don't have to be backed by Bitcoin.
You have private unbacked IOUs. AKA shitcoins.
If it is custodial, it is an IOU, not Bitcoin.
Those IOUs can also be printed by the mint arbitrarily and don't have to be backed by Bitcoin.
You have private unbacked IOUs. AKA shitcoins.