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I got a loan against my BTC as collateral in the regulated Blockfi company and put it into highly regulated storage at Gemini. The part I missed is that the co
by xiphias2 4y ago
I got a loan against my BTC as collateral in the regulated Blockfi company and put it into highly regulated storage at Gemini.
The part I missed is that the contract contained a hidden part where Blockfi can take out the money from the regulated storage and do whatever they want with it without notifying me.
I was paying regular loan repayments and had no idea that they put it in a casino.
When people don't go for known thiefs and mix them with other people, it just gives me more confidence in the important of decentralization.