I think we have reached the moment where “not your keys, not your coins” is more important than ever.

You have all heard about Michael Saylor of MicroStrategy gobbling up 38,250 bitcoin for $425 million.

This MicroStrategy event will be looked back upon as “the shot fired from the starting pistol” marking a new beginning, a new race into bitcoin from an unprecedented wave of institutional and corporate adoption.

These new adopters are not average joe’s.

These people are entering the game with a level of sophisticated power that we simple plebs and humble sat stackers simply cannot compete with.

However, we have ONE single sure-fire way to protect ourselves.

That is, get your coins off of the exchanges and into your own self custody… NOW.

With this new influx of powerful people, there will be many more critical eyes looking into all the nooks and crannies of the bitcoin space, to ensure they will benefit from bitcoin for their own self interests. (This is good.)

The big players want a 21 million hard cap and “number go up” just as much as you do. They do not want fractional reserve and rehypothecation. They will hire professional watchdogs in the private sector and they will push regulation in the public sector to ensure that bitcoins fundamentals will not be compromised.

If/when some exchange or custodian is ousted for having some bitcoin fractional reserves or some other form of malpractice results in lost bitcoin (intentional or unintentional) you can be certain that the big boys with their teams of lawyers and executive institutional relationships will be catered to first.

They will be protected, meanwhile we will be lucky to get any scraps once the dust settles.

They will receive special treatment that we cannot expect the luxury of.

The exchanges won’t care about you.

Your losses are a simple calculation that they have already planned to write off and move on from. You will not have the funds or the power to fight them and recover your losses.

If you have any amount of bitcoin on any exchange that you care about and you are reading these words right now… I implore you to take the time now to think all of this through and take good decisive actions very soon.

Your bitcoin can only be taken from you if you do not control your keys.

Win this war now by avoiding the battle altogether.

Take custody of your bitcoin while you still can.

Submitted September 20, 2020 at 08:17PM by SpockSays https://ift.tt/2ZT9ses