Freedom4ever on Nostr: Learn from history and fight recency bias. Keep your #Bitcoin in #self-custody, ...

Learn from history and fight recency bias. Keep your #Bitcoin in #self-custody, protect it.

quoting note103u…0tm8

In 1934, the US government passed Executive Order 6102 to seize gold held by Americans. If you think something like that can't happen today, think again

Custodial platforms can be forced to comply with government orders like the banks were back then

Here’s why:

90 years ago, a recently elected FDR faced a desperate and struggling economy. The president chose to villainize gold savers as ‘hoarders’ and seized their gold in an effort to fix the economy. All gold stored in banks was seized, however, most privately held gold was not.



When your bitcoin is held on an exchange, it’s not truly yours. The keys are controlled by a third party, which means it can be frozen or seized at any time

Check those terms and conditions 👀

Any exchange is one election and one bill away from having its bitcoin seized

The beauty of Bitcoin lies in its decentralized nature and the fact you can securely self-custody. When you hold your own keys , nobody can take your bitcoin. Self-custody is freedom and the only way to ensure your bitcoin stays yours.

History serves as a cautionary tale. Just as gold was seized in the past, bitcoin held on exchanges could face a similar fate. A mere 5% interest is NOT worth the risk of losing all your bitcoin. Self-custody your bitcoin and secure your future 🔐

It’s good to be a paranoid crypto anarchist!