"Clients applying this reasoning should remember that, in bitcoin, no one is too big to fail. There is no government or money printer capable of restoring lost coins, so there are no bailouts. Trusting a single company, no matter their qualifications, to protect your bitcoin creates significant counterparty risk."
~ Dhruv Bansal
We come at you with another read today, this one on the maturation and new developments in the collaborative custody industry. Today we are used to thinking of Bitcoin security as either left with a custodian, or kept in personal cold storage, while I think the future will look back on this as the immature beginnings of one of the most vibrant markets in bitcoin finance. Most of the world will exist in the middle, with shared and distributed custody providers, eliminating single points of failure in markets across the globe... and it all begins, with a network of keys...
Check out the original article at Bitcoin needs a network of keys. (Link: https://tinyurl.com/yahv5k3r)
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“Physics is like sex: sure, it may give some practical results, but that’s not why we do it.”
~ Richard P. Feynman
--- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/messageToday we start our journey through the incredibly thorough and knowledgeable work by iterative.capital that focuses and clarifies the highly misunderstood narrative around the...
Would you give up $1,000,000 in Bitcoin today, to guarantee its success and that our future was one of sound, decentralized money? My answer...
"Today, there exists over 180 currencies across 195 countries. The reason for such an anomaly is simple: there is no free market for currencies....