Regulators in Canada have come out in full force to request Crypto Asset providers to provide info or lock accounts for individuals linked to the protests and those who have donated to the movement. Jesse Powell, the founder of one of the biggest exchanges in the world, Kraken, has publicly advised people to move their crypto assets off of exchanges and into self-custody.
You may have heard about the famous exchange hack on Mt. Gox where hundreds of thousands of Bitcoin were stolen from users. Bitcoiners learnt a very valuable lesson from that, and since then around 75-78% of Bitcoin is kept in cold storage, and off exchanges.
This wasn’t the last hack. There was one 2 months ago, on the Japanese exchange, Liquid, where around $80m in Crypto was stolen.
This is a topic most Bitcoiners have thought about, but few actually implement. The brutal reality of being a Bitcoiner at this point in time …
Bitcoin self custody is vital for anyone who wishes to remain un-cancellable and censorship resistant in their personal capacity. Cancel culture is running wild through our culture and Bitcoiners will be in the firing line sooner or later.
A basic guide for Bitcoin self-custody. The do’s and don’ts of managing your private keys to ensure that you always remain in control of your Bitcoin. It is a vital step in the direction of self-sovereignty. Bitcoin was designed exactly for this method of ownership. Self-custody brings the promise of freedom, but requires that you take extreme ownership of the assets under your control.
It seems like there’s a lot of negativity in many South Africans’ and Bitcoiners’ lives right now. Riots, inflation, corruption, load shedding and of course …
The integrity of your bank balance, pension, home and all your worldly physical possessions are subject to the rule of law being maintained. This weekend has shown us that this thin veneer can rapidly be breached.
But what if you owned an asset that cannot be confiscated? This asset exists, it’s called Bitcoin.
Some see this event as a warning sign, some this as an opportunity. In the long-term, China has effectively removed the last area of centralisation that Bitcoin has left.
The aim of this article is to detail the standard operating procedure for investors and advisors to self-custody Bitcoin.