If they had control over Bitcoin they would not be taking measures like this.
(twitter.com)
😷 DEM PANIC 💉
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If you don't use cold storage then basically you're an idiot...And Not everyone is that stupid to keep their assets on an exchange unless they want to sell/trade...
The transfer is available publicly. I've never understood how you're able to "store" crypto on a cold wallet. Is it similar to storing documents on a flash drive?
Yes exactly. Look up the Nano ledger X for example. I look at it like money in the bank. Does the bank really have all our funds if we went to withdrawal? No they don't and God knows what they do with it all. There was a thread last year on the increasing number of large BTC wallets that were pulling their bags off the exchanges to cold storage which tells us all we need to know.
Unfortunately the whole crypto space is confusing and even more confusing/time consuming when you use cold storage. Most will just leave their funds on Coinbase etc... and think their money is safe.
Okay so if you need to sell, trade or buy then you have to use exchanges. I know there will always be ways around it for people like us who spend the time to research but 99% of crypto holders have no clue how dirty Coinbase and the other exchanges are and will become. They could make it very hard to use if they choose.