This is the biggest existential risk to btc and will be used to justify punitive regulation

Unless there is a coordinated plan with Coinbase, it’s impossible to hack Cold storage where they allegedly keep their coins offline. Any hot wallets you’d hope they keep to an operational minimum 🤷‍♂️

We can only hope

Coinbase holds all MSTR???

The important part is how it is kept in cold storage, no? I mean funds doesn't necessarily get lost or stolen because Coinbase gets hacked? I mean, maybe if a Oceans eleven kind of style heist happens but man, I'd love to see that movie so it'd be ok.

Ah it's so decentralized!!

Onramp and multi-institutional multisig makes more sense by the day

it's good for all the other bitcoiners

Honey Pot 🍯

I believe Saylor has said $MSTR Bitcoin holdings are split between 3 different multisig custodians/storage solutions to avoid single point of failure.

That'll induce a hard fork and the ETF's already have in their documents that THEY will decide which fork is the bitcoin they will use. There is a timeless war against TRUTH, things will get much worse before they can get better.

People is defending Coinbase because they use very robust cold storage, with three different wallets held by different groups of people etc. But a hack is not the only source of havoc. Unpaid debt from fractional reserve or state attack could happen. Giving your coins to Coinbase does not align wit...

It’s just 10% of total supply. And scarcity ^ up

Insane! Why don't at least the companies do self custody or use a professional multisig vault service?

I really respect and appreciate what Saylor has done for the space. But it is INSANE to me that he just has all his BTC custodially on Coinbase. It’s a matter of time before they get hacked. It’s too big of a honeypot and too many state actors are already actively trying to infiltrate the compan...

Why is mstr in there? This guys is smart enough to not do that right?

what will happen to the price of btc held in private wallets ?

😳

It’s the biggest honeypot on the planet!

Yep

More likely a 6102-like government grab, as they’ve shown us they’re happy to do already with gold. The US Gov (or the Network behind them) don’t need to hack anything, they can just force through a confiscation and no US company is going to stop them if they want to do it

Not in a million years, the hacks had to go through multtisig multicold storages. It's would be easier to hack Bitcoin network but that never has been done for the last 15 years.

MSTR? They hodl over 200,000 btc, they don't show up here.

Waiting for it.

https://m.primal.net/PACc.png