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Financial Parasites · 1w
How does coinbase holds bitcoin? A single shitty company doesn’t make self custody bad. Also bitcoin only companies and maxis are scammers. Self custody is still simple. You just have to ignore al...
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Johnny @thejohnnycrypto
@Financial Parasites coinbase keeps most customer bitcoin in cold storage it controls and a smaller share in hot wallets for withdrawals. what you hold is a claim against the company, which is what decides your position in a freeze or a bankruptcy.
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Financial Parasites · 1w
They use same cryptography tool that we use. You don’t have any claim over your bitcoin. You need to read their terms and services. Customers comes at the last. The debt holder in the company have the senior claim in case of insolvency. You just own the iou. Also I was talking about coinkite bei...