People who lost their Bitcoin with Mt Gox in 2013 can forgive themselves. The risks of 3rd party custody were not as well known back then, and self-custodying your coins was orders of magnitude harder than it is today.
Today, it is widely known that some or even a lot of custodians/exchanges have gone and will go tits up throughout the years. Hacks. Improper risk management. Or some other form of sloppiness.
If the future for Bitcoin is as bright as many here (including myself) like to think, a single Bitcoin can have millions of dollars of purchasing power in today's terms.
Most people don't have any (significant) part of their net worth in Bitcoin yet. And they will feel stupid to a degree when they buy in for the first time at 500k or more. But they can take solace in the fact that very few people understood Bitcoin while the price was sub 50k. They will be part of the early and late majority.
If, however, you were one of the few who understood Bitcoin & invested a significant portion of your wealth & income, but you lost it because of your hubris and stored it with a 3rd party, despite 1000s of people telling you about the risks, you will not forgive yourself as easily. You almost made it to the touchdown zone, but you let the ball fumble. You lost generational wealth because you were too cheap to get a $100 hardware wallet and too lazy to invest 10 hours to learn about and set up your own cold storage.
Get a HW wallet today if you have serious money in BTC.
Submitted August 15, 2022 at 04:21PM by HugoJP https://bit.ly/3AmBod6
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