Strike will be my exchange for the foreseeable future
295 sats \ 7 comments \ @fritzo85 12 Nov 2022 bitcoin freebie
As some are probably familiar there were some issues on strike the past couple days. Two that i had personally were not being able to complete buy orders and wider then normal spreads when purchasing. These issues had me possible looking at other exchanges. After reaching out to IT they had the buy orders not completing fixed within 30 mins. They tweeted how we can just buy bitcoin straight to our nodes or wallets with almost no fees and buy pass the liquidity providers. They have switched liquidity providers that were causing both issues. And they are going to be crediting users that dealt with abnormal spreads buying and selling. As we know there are many companies that pretend to be for their users until shit hits the fan. Strike has in only 48 hrs proven to me they are a company to trust and that they have the users back.
Much love to my btc brother/sisters and keep stacking
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10 sats \ 2 replies \ @cokyjgz 12 Nov 2022
Nah ! Strike also has a CEO
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76 sats \ 1 reply \ @inevitable 12 Nov 2022
What's the problem with a company having a CEO?
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43 sats \ 0 replies \ @satoshe 12 Nov 2022
The only CEO I support is Bitcoin’s CEO
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0 sats \ 0 replies \ @kuroba 13 Nov 2022
Strike is a great tool and I'm excited for what they're doing, but make sure you're using it as a tool, not as a way to outsource responsibility.
Not every company that fails its users is malicious or dumb - some have the best intentions and competence, but they're still people. People have imperfect foresight, imperfect ambition, a tendency to overestimate upside and underestimate downside, and a reluctance to admit mistakes, especially mistakes that seem like they can be fixed/covered up with just a little more risk-taking. Any of these in a tiny amount is enough to create catastrophe.
For me, the biggest takeaway from the FTX saga is that even traditional markers of credibility aren't enough in this space. I'm talking about lines of thinking like, "If a company does ___, it's probably alright" or "If a person is ___, they're probably alright". For example, "If a company is advertised on this podcast, it's probably alright" "If a company has its name on a stadium, it's probably alright" "If a company solved my problem within 48 hours, it's probably alright." Could be anything. In most areas of life, these markers tend to be accurate. Not in this space.
We're way out on the risk curve, way farther out than people like me (who don't come from finance, we got into finance through bitcoin/crypto) realized. Our standard for trust should be something like, "Could I satisfactorily answer every question about this platform/investment from an extremely annoying, extremely intelligent friend who will definitely say 'I told you so' every day for the rest of my life if it fails me?"
Sorry for the essay, I'm just drawing from my own extreme laziness/desire to just trust someone to make me money rather than put in the work to protect myself.
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0 sats \ 0 replies \ @DeezSats 12 Nov 2022
Strike is great, sure but they must make a deal with the devil to reach normies. I am amazed at the number of bitcoiners using and praising KYC services.
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0 sats \ 0 replies \ @SatoshiNakanodo 12 Nov 2022
I don’t disagree re: Strike. Just be careful about putting too much trust in any corporation.
Might not hurt to look into running your own node. It’s not difficult. That way you could use a completely open-source Lightning wallet and wouldn’t need to trust anyone.
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0 sats \ 0 replies \ @TheWildHustle 12 Nov 2022
Love strike
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