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21 sats \ 9 replies \ @Scoresby 18 Aug \ on: Locked 1 BTC until 2030 bitcoin
If piggy goes out of business, what happens to your btc?
Per terms:
Liquidation or wound down
We are building for the long run. Still, here is our safety plan.
Force unlock for withdrawals: All Smart Locked balances will be unlocked and moved to a withdrawable state.
Withdrawal window: We will announce a clear in-app withdrawal window so you can move funds to your own wallet.
Withdrawal options:
Manual: withdraw to any Bitcoin address you choose.
Automatic (in development): on a liquidation trigger, auto withdraw to your preset Bitcoin address.
Separation of funds: Your bitcoin is held separately from company funds and is never lent or rehypothecated.
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Trust me bro!!!
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Coinos makes spending with LN easy and coinos charge very low fees.
You do not hold large numbers of sats on coinos.
Comparing coinos to piggy is disingenuous as piggy is asking people to trust it for long term cold storage of potentially large amounts of sats.
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Thanks for chiming in Solomon.
The OP's entire post imo is ridiculous (like a bad joke) and i'm not sure it belongs on Stacker News at all.
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You lose your money and piggy moves to Thailand with all your coins.
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