NostrGarden on Nostr: I keep seeing fear posts on X about Coinbase being a single failure point. Assuming ...
I keep seeing fear posts on X about Coinbase being a single failure point. Assuming they have all their stored coins in 1 address, which they don’t, but assuming all their coins are “hacked” (transferred to another wallet), then what? How would the thieves get away? How can they freely spend it? What if it goes to an address where the seedphrase is lost or forgotten? Sounds to me like #Bitcoin simply becoming more scarce. I get the political outcry, and I’m sure the good ol USG will hit print and make those who they like whole.
Published at
2024-09-09 01:56:14Event JSON
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"content": "I keep seeing fear posts on X about Coinbase being a single failure point. Assuming they have all their stored coins in 1 address, which they don’t, but assuming all their coins are “hacked” (transferred to another wallet), then what? How would the thieves get away? How can they freely spend it? What if it goes to an address where the seedphrase is lost or forgotten? Sounds to me like #Bitcoin simply becoming more scarce. I get the political outcry, and I’m sure the good ol USG will hit print and make those who they like whole.",
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