BlockFi files for bankruptcy protection.

[o_e_l_e_o]

It appears it has become official. A judge has declared that Blockfi depositors have given their legal rights to the ownership of their coins when they sent them under Blockfi's custody. According to this article, $292 million of user deposits are owned by BlockFi.

So, exactly as was spelled out in BlockFi's Terms of Service, as I pointed out on this forum dozens of times, including this example from several years ago: https://bitcointalk.org/index.php?topic=5308457.msg56070076#msg56070076

BlockFi quite clearly stated that anything you deposit becomes their property, they will do what they like with it, and when it all goes to shit their users have zero legal protections.
So BlockFi took all the deposits, did anything they liked with them, it all went to shit, and now people are surprised they have zero legal protection?

Crypto is indeed very very risky.

I don't think bitcoin is that risky at all, especially when compared to ever-more-quickly imploding fiat. Buy bitcoin peer to peer, store in your own wallet, wait. Simple and safe. What is risky is handing your bitcoin over to a bunch of complete strangers because they've promised you a gazillion percent gains.

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[Mate2237]

Crypto is indeed very very risky.

I don't think bitcoin is that risky at all, especially when compared to ever-more-quickly imploding fiat. Buy bitcoin peer to peer, store in your own wallet, wait. Simple and safe. What is risky is handing your bitcoin over to a bunch of complete strangers because they've promised you a gazillion percent gains.

o_e_l_e_o you have said it all and also said my mind. I don't why people are saying that investing in bitcoin is risky. Me, I didn't see any part of risky in bitcoin. Except the price which is in constant flustration. If you buy bitcoin in the bear market and you must expect it to be sold when the market goes up but along the long run for about two years plus, the price might even come down to a very below to the amount you purchased it. And at that time you became afraid that you might lost your coins. Even at that , it is not a risk but just a fear and impatient.

The risk that is involved in bitcoin is your the investor's thinking and  behaviour and not bitcoin that is risky. The mentality of the investor is the cause of everything.