“Principles of BTC — You do not trust a CEO. You do not trust a company. You do not trust a custodian. You do not trust a bank. You hold your own keys. You run your own node. The #bitcoin network will run for the next 1,000 years”, explains @saylor
The principle of bitcoin is quite simple in the use of investment and in trade, Bitcoin has a much more perfect system without any control centered by any securities, so there are no restrictions on its journey other than the owner with those who want to transact. Bitcoin is unique because the decentralization was developed with several combinations of technical methods that are quite relevant and in line with thinking concerning freedom of investment.
Anytime incidents like that of FTX occur you will remember why btc remains at the top and will always reign supreme. Another lesson for those who think exchanges are the best option to secure their funds. Not Your Keys, Not Your Money. Do Not Forget.
Therefore, this is an important lesson for all of us, that the exchange is not a safe place to store any assets, because we do not have complete security access there. Awareness of asset security must be a special consideration for everyone, before and after making a decision where to store assets.
The collapse of the FTX has indeed taught us all a valuable lesson. As soon as you invest in an asset for a company, it becomes the company's money. As long as you don't hold your keys, a platform is free to use them as it wishes. You control your keys, you control your money. Furthermore, the money that you keep in your possession. We can withdraw money without worrying about the system collapsing while a company runs. As we know what happened with FTX, we'll probably see a change in mindset.