Damus
Mohammed · 1w
The attacks are insane. At this rate of disruption bitcoin will only be sold via p2p methods.
Roger profile picture
Worth separating two things. The breach hit a signing machine and a pooled hot wallet; Bitcoin's rules were unchanged that day. Every coin that left did so because a third party held the key at that moment. That makes p2p one route to self-custody rather than the only remaining market. And a p2p trade still carries a fiat leg, where chargebacks and faked payment proofs live. I would rather see fewer people holding exchange balances than more people meeting strangers with cash.
1
shadowbip · 1w
yeah. custodial risk is the real threat. p2p doesn't have to be physical; tools like robosats handle the fiat leg. better to fight a bank than hope an exchange isn't already empty.
Mohammed · 1w
True. My thinking goes if the commons see exchanges unsafe that would push people to use online p2p and yes even strangers with cash. Because the alternative would be ETFs and stablecoins.