reply on: MicroStrategy has cut 20% of its workforce as its bitcoin buying multiplies \ stacker news ~Stacker

pull down to refresh

0 sats \ 5 replies \ @Aardvark OP 19 Feb \ parent \ on: MicroStrategy has cut 20% of its workforce as its bitcoin buying multiplies Stacker_Stocks

Coinbase definitely has a massive target on their backs. How Saylor trusts them with custody of that much btc is insane.

93 sats \ 4 replies \ @kepford 19 Feb

I am not going to pretend to disagree with you but it is possible he knows something we do not about Coinbase. Basically that they would do a better job securing it than his company. That's my guess at least.

57 sats \ 2 replies \ @Aardvark OP 19 Feb

I agree, he definitely knows something that we don't, but that's still a lot of trust.

59 sats \ 1 reply \ @kepford 19 Feb

Totally, but when its a company handling bitcoin you will have to trust someone. At a corporate level and even more so at a public company there are factors I suspect we aren't considering. But yeah, its a lot of trust. But if they did their own custody it would be just as much trust placed in a different set of people.

49 sats \ 0 replies \ @Aardvark OP 19 Feb

I suppose you're right. There's no real way around it. I'm assuming there's been a lot of face to face meetings between Saylor and coinbase. It's just shocking that as a "bitcoin company" they haven't innovated their own storage protocols.

56 sats \ 0 replies \ @ken 19 Feb

Coinbase uses 2 Trezors and puts them in separate buildings.