99% of People Will Lose Crypto in Self Custody

[Jatiluhung]

I can't agree with that number. because 99% is too much. even those who use cold wallets actually most of them have sufficient knowledge about crypto. But those who store in Hot wallets, maybe most of them don't have sufficient knowledge about how to secure their crypto assets and how to back up safely. but CZ was right that holding his own also carries the same amount of risk. However, saving on the stock exchange also carries the same risk. so I think 50% is a closer possibility.

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[Luzin]

I can't agree with that number. because 99% is too much. even those who use cold wallets actually most of them have sufficient knowledge about crypto.

I don't think this title thread is appropriate, maybe what is likely to be missing is the value of crypto. Even if they can lose crypto because it is stolen. But as long as they still own the crypto, the asset will not disappear what is happening right now is a drop in value in fiat or BTC depending on the desired pair.
 
Within a few months indeed the occurrence of FTX and LUNA made people paranoid. I think we need to be vigilant but not to be afraid. We just need to be disciplined. There are some people do take advantage of that to further make things worse. When you panic then they will take advantage. It could be that they deliberately made the price of Crypto drop in order to buy more.

[QueenVera]

Even his words are very convincing, I doubt many people will trust his words. After the FTX incident and all this mess in the market, I personally don't trust anyone related to any Centralized Exchanges. 

The CEO of centralized platforms will say anything just to keep people storing coins on their platforms so they have enough funds to go on with their operation. They know people are getting enlightened on the importance of self custody and that frighten them because when people start withdrawing from their platforms they begin to lack liquidity.
We have to start ignoring all this fake statistics as it's important to note that our assets are more safer when they aren't linked to a centralized sever that can be hacked and our assets get stolen.
Bitcoin was develop to bypass the centralized platforms so it make no sense we publicizing such service as it go against all Bitcoin stand for.

[darkangel11]

CZ and other vultures want your money just like banks want you to hold money with them and trying to scare people is a strike below the belt. I've always known CZ to be a ruthless businessman without any ethics or morals and he's proving it by trying to scare people and make them lend him money. You could see how he flinched when asked if he could cover all withdrawals if people started exiting his exchange. He's doing fractional reserve like all the rest, just with him it's not as much but IMO people should never store anything on his exchange and get rid of BNB. People are greedy though so I don't expect this to happen.

[Newlifebtc]

I want to ask if a trust wallet is a custodial wallet or non-custodial wallet because sometimes I miss understand this custodian wallet and knock on student wallet we do explain so I think with this time I will have a good explanation of what is custodial wallet and the non-custodial wallet

[BALIK]

CZ and other vultures want your money just like banks want you to hold money with them and trying to scare people is a strike below the belt. I've always known CZ to be a ruthless businessman without any ethics or morals and he's proving it by trying to scare people and make them lend him money. You could see how he flinched when asked if he could cover all withdrawals if people started exiting his exchange. He's doing fractional reserve like all the rest, just with him it's not as much but IMO people should never store anything on his exchange and get rid of BNB. People are greedy though so I don't expect this to happen.

We are in a financial market, and what you say is so normal, we cannot expect that he will make money and give it to us for free. Like you and I enter this market to make money, and if you want to make money, you have to make other people lose. It's the rule of the financial market, so don't blame or hate him, try our best to make a lot of money in this market, that's what we need to do. Don't listen to what he says or anyone else in this market.

[justdimin]

I can't agree with that number. because 99% is too much. even those who use cold wallets actually most of them have sufficient knowledge about crypto.

I don't think this title thread is appropriate, maybe what is likely to be missing is the value of crypto. Even if they can lose crypto because it is stolen. But as long as they still own the crypto, the asset will not disappear what is happening right now is a drop in value in fiat or BTC depending on the desired pair.
 
Within a few months indeed the occurrence of FTX and LUNA made people paranoid. I think we need to be vigilant but not to be afraid. We just need to be disciplined. There are some people do take advantage of that to further make things worse. When you panic then they will take advantage. It could be that they deliberately made the price of Crypto drop in order to buy more.

Well, they "lose" it for themselves, not for the market. Which means that if you get bitcoin, put it somewhere "safe" and then can't go back in, the bitcoin will be there but you won't have access to it so you lost it. So, it is basically true but you have to take the word for what it is and what it could mean, some words could have multiple meanings and you need to reconsider the situation. At the end of the day, we are talking about a world where things are not as clear as black and white.

I personally believe that most of the coins are already in exchanges, 50%+ must be in exchanges, meaning if all exchanges got together, they could seriously hurt the market or help it all by themselves, that is a bigger issue.

[trisha_vinh]

I know that Bitcoin is best kept in my own hands, that is, in a cold wallet. But I still put it in the exchange account. I worry about losing it.