Idahodl on Nostr: First thing is first, the obligatory not your keys not your coin line comes to mind. ...
First thing is first, the obligatory not your keys not your coin line comes to mind. Yes, trusting Blackrock with your bitcoin is at the most generously put "risky". I'm assuming you already know this so we can move on.
Second, even if Blackrock were to rug the world I struggle to see why that would make others leave the market. If anything it would make bitcoin responsibly held in cold storage much more valuable and scarce.
I think it is also important to remember this kind of loss wouldn't be totally unprecedented as Mt. Gox lost over 700,000 bitcoin in 2014. It would have been much easier for the bitcoin protocol to fail after that because bitcoin was still in its infant stages of adoption.
Lastly I think none of this would change the fact that bitcoin is the best monetary asset humans have ever seen. Even if I lost all my bitcoin today I would be buying again tomorrow because there is no better asset on earth to store my value.
That's my two sats, cheers!
Second, even if Blackrock were to rug the world I struggle to see why that would make others leave the market. If anything it would make bitcoin responsibly held in cold storage much more valuable and scarce.
I think it is also important to remember this kind of loss wouldn't be totally unprecedented as Mt. Gox lost over 700,000 bitcoin in 2014. It would have been much easier for the bitcoin protocol to fail after that because bitcoin was still in its infant stages of adoption.
Lastly I think none of this would change the fact that bitcoin is the best monetary asset humans have ever seen. Even if I lost all my bitcoin today I would be buying again tomorrow because there is no better asset on earth to store my value.
That's my two sats, cheers!