>Who do you think controls BTC?
Nobody control Bitcoin. Fact. Some people own more than others, but that doesn't mean they control the Bitcoin blockchain or the minting of BTC. Owning 1 thousand Bitcoin makes you wealthy, but that is all. Miners also don't control Bitcoin. Even large mining pools don't control Bitcoin.
Every person that keeps their Bitcoin in a wallet where they have the private keys, owns their Bitcoin.
>What do you think crypto exchanges are?
Crypto exchanges are platforms where you can buy or sell your crypto, either for fiat or for other crypto. Seems pretty simple. Some exchanges are large, like Binance, but it is wrong to think that they are like banks. Most people understand that the exchange is only used for buying or selling, and then once that activity is done, you transfer your crypto to a wallet where you control the keys.
People don't keep all their crypto holdings on the exchange (well some might) but the majority only use exchanges for buying/selling. With a bank, we keep all our money with the bank in an account/s. Some people keep cash in other places, but to think that exchanges are like banks is incorrect. So it is not the new boss. IF there were no option to withdraw crypto from exchanges into private wallets, then yes, that analogy would be correct. But it isn't/
The whole point of crypto is to become sovereign, and have your finances not able to be controlled by the state.
The state is not your friend....unless you are a communist, and like to lose all your assets and become poor.
How are those returns since 2017 peak? 5 years later and it’s lower than where it started. The easy money is gone, you have to come to terms with it. Btc was funded by speculative fervor from excess quantitative easing. With quantitative tightening in play I expect a sub 10k bitcoin soon. There is no inherent value and there will never be a large enough group of fools to make it an official currency. It acts nothing like a currency. It is owned by a more concentrated cartel of gamblers than the US dollar will ever reach and that’s sad to see
Every person that keeps their Bitcoin in a wallet where they have the private keys, owns their Bitcoin.
>What do you think crypto exchanges are? Crypto exchanges are platforms where you can buy or sell your crypto, either for fiat or for other crypto. Seems pretty simple. Some exchanges are large, like Binance, but it is wrong to think that they are like banks. Most people understand that the exchange is only used for buying or selling, and then once that activity is done, you transfer your crypto to a wallet where you control the keys.
People don't keep all their crypto holdings on the exchange (well some might) but the majority only use exchanges for buying/selling. With a bank, we keep all our money with the bank in an account/s. Some people keep cash in other places, but to think that exchanges are like banks is incorrect. So it is not the new boss. IF there were no option to withdraw crypto from exchanges into private wallets, then yes, that analogy would be correct. But it isn't/
The whole point of crypto is to become sovereign, and have your finances not able to be controlled by the state.
The state is not your friend....unless you are a communist, and like to lose all your assets and become poor.