We often hear that Bitcoin gives us financial freedom and theWhat if Satoshi Nakamoto decided to build his own Bitcoin exchange and hardware wallet? Would that make Bitcoin safer, or would it create another problem? ability to control our own money. However, when it comes to buying and securing Bitcoin, many of us still depend on third party services.
We buy Bitcoin on exchanges, leave some of our funds on those platforms, and purchase hardware wallets from manufacturers to protect our private keys.
The recent large attacks on bitcoin from ColdCard Hardware Wallet to the most recent which is Ledger Hardware Wallets and Cryptobilis and many other exchanges that have been compromised got me thinking "What if Satoshi Nakamoto decided to build his own Bitcoin exchange and hardware wallet? Would that make Bitcoin safer, or would it create another problem?"
If Satoshi (this is hypothetical i am just thinking aloud) decides to create an exchange or a hardware wallet would you use it?
For me i would definitely use it because the originator of this magnificent currency would definitely know how best to protect it.
But how would we know it was the real Satoshi? How would you know to place trust in that.
If Satoshi for example moved coins in the related wallets would that be enough proof that
it was real? would you be wondering if someone else got hold of the wallet? what happened
if it was the real Satoshi and something happened and he* and you couldnt access the platform
where your coins were stored?
The best scenario is to take control of them yourself, that way if done as best you can - YOU
have control of them.
The real Satoshi would not endorse such a move. The general consensus is to not leave them
ONLINE and to take control of your funds.
Its up to everyone to try and find the best anonymous way of doing that. There are other ways
to create a wallet without using a hardware wallet, something I have not done myself.