Throwback: Not Your Keys, Not Your Coins - Bitcoin Lockouts
Dear Readers,
Asset custody has a dark side: if someone else has your money, you’re at their mercy when you want to get it back. Hopefully most of us haven’t had much, if any, trouble over the years withdrawing our money, but there are plenty of examples of people who did:
•The failure of the Lehman Brothers investment bank in 2008 resulted in tens of billions of U.S. dollars’ worth of losses for investors and creditors.
•The Cypriot Financial Crisis of 2012-2013 resulted in portions of accounts with balances above €100,000 at several large banks in the country being seized.
•Governments around the world freeze billions in assets belonging to criminals and innocent parties alike annually.
Bitcoin is money that you alone can control, if you choose.
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This is not financial or business advice. This newsletter and related content are for informational purposes only. Cryptocurrencies and digital assets can be risky. Always do your own research before making any sort of investment.