England, Investment Professional discussed on Unchained



Like the word so essentially you can either ask a service like coin base to manage your private keys or you can say i'm gonna hold my private keys and be careful if you hold your private keys as some have learned the hard way on some ways there's no centralized service holding them so if some people prefer it to hold their own private keys the only danger in that is that you could lose them and it's just like losing cash so there's the famous story of guy who i don't know how many hundreds if not thousands of bitcoin he had and basically threw them out in a dumpster with his old computer well when the price of bitcoin started going through the roof it was many millions of dollars last they heard he finally had permission to look through the landfill site but the money is gone this is an england initially right when he lost it wasn't worth as much and he was like oh forget it and then last fall when the prices are going up he he asked for permission but they're working on a lot of custody solutions this is part of the architecture of the plumbing the structure that is being built by different companies and developers right now are secure ways to store this stuff a lot of institutional money on that storage point is yet to come into the space and a lot of people think that will help stability in volatility because a lot of institutional money we've heard is waiting on the sidelines to come in because there's no what we call in law qualified custodian so hedge funds fund managers investment professional professionals under law required to have crypto funds helped by qualified custodian in there just aren't those solutions being built yet but they're in the works now next question.

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