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92 sats \ 1 reply \ @OgFOMK 10 Nov 2023 \ on: Does Bitcoin have a hostage situation of its own? bitcoin
I think the question here is, "Are you buying Gemini's Bitcoin?"
The "regulated" exchanges own their Bitcoin and if they do not give it directly to the address you want then they have not sold any to you. Instead they have exchanged your Fiat currency for another government "regulated" entity.
Not your keys, not your coins.
Many of us play this game. It's like musical chairs.
As painful as it might be you will have to not use any of the "regulated" is they work for the government.
My first Bitcoin purchase was in 2019 through Robinhood. I found out quickly that it was just in their system and I couldn't do anything with it. I sold it immediately and I had to learn how to self custody and where to go next.
I've done just about every stupid thing possible.
We really need to create a whole ecosystem where we can trade and earn in Bitcoin and to hell with the Fiat trolls.
Yes. This.
As the remaining 99% of the world's population discovers Bitcoin, we really need their on-ramp to be non-custodial solutions INSTEAD of the usual Geminis and Coinbases of the world. This is where too many people start.
I'm encouraged by new tools like Mutiny Wallet which are both non-custodial AND non-dependent on centrally controlled distribution platforms. We need also more P2P marketplaces that cannot be interfered with.
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