Nicholas on Nostr: Real friends don’t let friends only hold Bitcoin ETFs. The Consolidation of Bitcoin ...
Real friends don’t let friends only hold Bitcoin ETFs.
The Consolidation of Bitcoin custody at Coinbase is a massive attack vector.
When Coinbase went down last week the “buy” button was eliminated for that brief period and Bitcoin lost $100 billion of market value in 15 minutes.
Like they did with GameStop to save the brokerage houses, *they* could eliminate the “buy” feature on Coinbase and make it “sells” only.
Bitcoin would crash and not recover for possibly years should too much bitcoin be consolidated through Coinbase, which could end up a a massive single point of failure.
The Consolidation of Bitcoin custody at Coinbase is a massive attack vector.
When Coinbase went down last week the “buy” button was eliminated for that brief period and Bitcoin lost $100 billion of market value in 15 minutes.
Like they did with GameStop to save the brokerage houses, *they* could eliminate the “buy” feature on Coinbase and make it “sells” only.
Bitcoin would crash and not recover for possibly years should too much bitcoin be consolidated through Coinbase, which could end up a a massive single point of failure.