Nick Szabo  🔑

Bitcoin suicide: ask investors to create an artificial run on crypto exchanges-an uncontrolled stress test in a new & fragile market. Exchanges create needed on-ramps for non-techs & reg certainty. @ToneVays @LeahWald @coinbase @krakenfx @saifedean @NickSzabo4 @CaitlinLong_https://twitter.com/ToneVays/status/1074695740826497024 …

If you're right, I would love to pick up a shit ton of #Bitcoin in the Bloodbath of incompetence

You have an iron stomach for trading and a long term view. But this will spook institutional and retail investors, big time. Community should rethink this stunt.

I hope so, my biggest fear is everyone getting comfortable with a giant amount if #Bitcoin held in regulated entities at risk of US Govn't confiscation with a phone call like with #Gold in 1933.

I totally understand that but is that the biggest threat to crypto assets right now? I think it is probably adoption and education.

Adoption and education are inevitable. Anti-fragility is not, it must evolve in a hostile env. Also, I think this stunt is more likely to bring needed awareness to the need to control ones own keys than to damage major exchanges. Unless I'm wrong, then see my first point.

Nothing is inevitable with crypto. This will just confuse people who don't think they're technically capable or physically secure holding their own keys. Exchanges are a bridge for them. Blow them up, or threaten to, and they will go away. Default behavior matters.