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> Bertyar88 never managed to withdraw his funds - his account never got unbanned, and his withdrawal was never processed.

Seems like theft -- was Bertyar88 doing something wrong here?

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Yes, trusting grifters to play by the rules. In crypto the most important risk is counterparty risk.

In fact the original point of crypto(currencies) is to eliminate counterparty risk by using cryptography and protocols.

But it all break down in exchanges where you just own a balance on an account, rather than actual cryptocurrency secured by your private keys as they are meant to be owned.

its not like btc could ever hope to manage the actual real transaction volume if those exchanges weren't virtual buckets, not to mention the massive fees involved.

There's a thing called Lightning Network nowadays. Solves that obstacle nicely.

Nostr is using it intensively for "zapping" micropayments in BTC to others. Anyways, plenty other coins exist too without high fees, and plenty of people use DEX'es where they remain firmly in control of their money with their own wallets.

Yeah, trusting a cryptocurrency exchange. It's like when people buy drugs and are shocked, shocked that they've been cut with something.

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