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Coinbase and Binance are coming out showing off their reserves bigtime. So far I have seen Coinbase mentioning that they have over 2 MILLION BTC... Which is 20% of all that could be had. So... uh... which wallets? Next is Binance showing that they have an on chain crypto value higher than their total liabilities to customers. These could both the real or they could both be fake. My guess is that they are partial or complete fabrications because they could NOT have survived the leveraged-jews being fully capitalized is my guess... but maybe? Pay attention to these guys and, ofcourse, don't believe anything other than asset keys stored on a mined blockchain. :) That is the gold-standard for truth.

Coinbase and Binance are coming out showing off their reserves bigtime. So far I have seen Coinbase mentioning that they have over 2 MILLION BTC... Which is 20% of all that could be had. So... uh... which wallets? Next is Binance showing that they have an on chain crypto value higher than their total liabilities to customers. These could both the real or they could both be fake. My guess is that they are partial or complete fabrications because they could NOT have survived the leveraged-jews being fully capitalized is my guess... but maybe? Pay attention to these guys and, ofcourse, don't believe anything other than asset keys stored on a mined blockchain. :) That is the gold-standard for truth.

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[–] • 0 pt (edited )

20% of all that could be had.

2mm BTC t's 9.5% of the 21mm maximum total supply.

These could both the real or they could both be fake.

Correct. It's possible for these companies to fool auditors, especially those that don't understand crypto. See Enron.

It's quite simple.

1) never, EVER keep your crypto on a centralized exchange. It doesn't matter if it's coinbase, binance, FTX, or even the most trustworthy ones like Kraken with idealist CEOs.

2) keep your crypto on a local wallet where only YOU control the private keys.

3) Use paper wallets - not something connected to the internet or hosted by a 3rd party on your mobile phone.

4) Use a guide to do this step by step. You want to make sure you have a secure backup of your seed phrase, ideally that can be passed down to your family if you die suddenly. You don't want a home invader to be able to find your full seed phrase either, or to beat it out of you with a lead pipe.

[–] • 0 pt

Why are you saving your bitcoin under your mattress? It doesn't matter if it's on the exchange or not. If the exchanges go jew theres nothing you can do with your "paper wallet" bitcoin anyway. There is no point in hodling right now. Crypto is worthless unless you are trading or spending it. If everyone takes their coins off exchanges the markets would go stale. Not to mention time and transfer fees. If the price jumped you would miss it trying to get your coins on an exchange. I've had crypto on Binance for years and also on Binance.US since it started. So i question the often touted phrase "keep your coins off the exchanges".

Not to mention no one should be putting more on any exchange then they can afford to lose. No sympathy for those who cannot properly think for themselves.

[–] • 0 pt (edited )

Good luck with that. Storing your crypto on Binance is insane.

Issue 1: Binance is the largest target for hacks along with Coinbase.

Issue 2: No one is going to bail out CZ if he goes bankrupt, and no court has clear jurisdiction if that happens either.

Issue 3: You are one regulatory decision away from having all of your assets frozen at all times.

Get a hardware wallet or learn to use paper wallets for cold storage. Use a non-custodial software wallet for spending amounts.

[–] • 0 pt

Get a hardware wallet or learn to use paper wallets

I have both. But I prefer to be active on the market.

You are one regulatory decision away from having all of your assets frozen at all times.

I invested a few thousand a when BTC was only ~$300. I have made a large amount of money from crypto and used it to acquire assets with real value. Losing anything on an exchange means nothing. It's all just numbers on a computer. Same with dollars. It's worthless until you turn it into something of real value. You can't do that when it's locked away in a wallet.