02-24-2023, 06:25 AM
Why self-custody is important and why you should move your coins off the exchange an
<!-- SC_OFF --><div class="md"><p>“Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.” – Satoshi Nakamoto, circa 2009 </p> <p>When the 2008 financial crisis hit big banks basically destroyed the world's economy and got away with it. Only a few countries actually did something about it.</p> <ul> <li>Iceland cleaned the house and jailed over 25 bankers for their shady practices,</li> <li>Spain jailed 11,</li> <li>Ireland only 7.</li> </ul> <p>Guess how many were jailed in the US? Only one. That's right, and he was just a small fry. Wasn't even a major CEO or anything. He was just a trader. Got only 2 years and 6 months in prison. It's a joke. And what banks got in return for destroying the world's economy? A bailout. Taxpayers basically paid for everything. That's why I invest in crypto. Because I know that the game is rigged against us the regular people.</p> <p>Small people like me and you take the biggest hit every single time. We lose our savings, we lose our jobs while they are fine laughing and plotting another scheme to mess things up. Collateralized Debt Obligations (CDOs) that brought the world's finance system to its knees in 2008 are being abused again by financial institutions, but this time banks call them Bespoke Tranche Opportunities (BTO). It's basically the same thing. They just changed the name. They haven't learned anything because nobody got punished last time.</p> <p>They don't care about any of us. And I feel like crypto is the only way out for us. </p> <p>That's why self-custody is important. Don't trust exchanges, don't trust banks, don't trust corporations. Get yourself a good hardware wallet, or even a paper wallet but keep it safe. Don't share it with anyone. Do your due diligence and let's avoid another FTX disaster.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/rootpl"> /u/rootpl </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/119y68q/why_selfcustody_is_important_and_why_you_should/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/119y68q/why_selfcustody_is_important_and_why_you_should/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>“Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.” – Satoshi Nakamoto, circa 2009 </p> <p>When the 2008 financial crisis hit big banks basically destroyed the world's economy and got away with it. Only a few countries actually did something about it.</p> <ul> <li>Iceland cleaned the house and jailed over 25 bankers for their shady practices,</li> <li>Spain jailed 11,</li> <li>Ireland only 7.</li> </ul> <p>Guess how many were jailed in the US? Only one. That's right, and he was just a small fry. Wasn't even a major CEO or anything. He was just a trader. Got only 2 years and 6 months in prison. It's a joke. And what banks got in return for destroying the world's economy? A bailout. Taxpayers basically paid for everything. That's why I invest in crypto. Because I know that the game is rigged against us the regular people.</p> <p>Small people like me and you take the biggest hit every single time. We lose our savings, we lose our jobs while they are fine laughing and plotting another scheme to mess things up. Collateralized Debt Obligations (CDOs) that brought the world's finance system to its knees in 2008 are being abused again by financial institutions, but this time banks call them Bespoke Tranche Opportunities (BTO). It's basically the same thing. They just changed the name. They haven't learned anything because nobody got punished last time.</p> <p>They don't care about any of us. And I feel like crypto is the only way out for us. </p> <p>That's why self-custody is important. Don't trust exchanges, don't trust banks, don't trust corporations. Get yourself a good hardware wallet, or even a paper wallet but keep it safe. Don't share it with anyone. Do your due diligence and let's avoid another FTX disaster.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/rootpl"> /u/rootpl </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/119y68q/why_selfcustody_is_important_and_why_you_should/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/119y68q/why_selfcustody_is_important_and_why_you_should/">[comments]</a></span>