BTC Sessions It’s OVER: BlackRock JUST EXPOSED Coinbases Secret Paper Bitcoin ATTACK! | O’Brien|Barbour|Mechanic
Apr 9, 2025
In a riveting discussion, Adam O’Brien, CEO of BitcoinWell and self-custody maximalist, Steve Barbour of Upstream Data, and Bitcoin Mechanic, Chief Boiling Officer at Ocean, dissect BlackRock's explosive decision to transition Bitcoin from Coinbase to Anchorage Digital. They dive into the significance of self-custody amidst trust issues surrounding exchanges and highlight the innovative practices of decentralized mining. The trio also tackles energy policies impacting Bitcoin's future and shares inspiring stories about educating the next generation on financial independence through cryptocurrency.
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Coinbase Centralization Risk
- Coinbase holds a significant portion of the Bitcoin supply, raising concerns about centralization and counterparty risk.
- BlackRock's move to diversify its Bitcoin custody away from Coinbase suggests a potential lack of trust and highlights the importance of self-custody.
Embrace Self-Custody
- Self-custody is crucial for true Bitcoin ownership and aligns with the principles of freedom and decentralization.
- Holding Bitcoin on exchanges like Coinbase exposes users to counterparty risk and goes against Bitcoin’s core values.
Coinbase’s Thorn
- Coinbase's history of questionable practices and their CEO's recent pro-Bitcoin stance after Trump's crypto investments raise concerns about their true intentions.
- The need for negative events like exchange collapses to reinforce the importance of self-custody and Bitcoin's core principles is highlighted.