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You give custodianship of your coins to a 3rd party, they now have control over them. That’s not a legitimate criticism of cryptocurrency.
by samsin 3y ago
You give custodianship of your coins to a 3rd party, they now have control over them. That’s not a legitimate criticism of cryptocurrency.
- maxbond 3y agoMaybe so, but needing to bribe an unfriendly government to access your funds is the type of thing cryptoassets were meant to obviate. So you might call capitulating to a government in control of it's nation's financial system, "the antithesis of crypto."
- samsin 3y agoWith crypto, 'your funds' are the ones you hold the private keys for. You don't have ownership over those coins, which is a mantra that's repeated ad nauseam (not your keys, not your coins). The idea that this concept is "the antithesis of crypto" seems entirely backwards.