As more people withdraw BTC from exchanges, the price tends to rise.
Eliminates the practice of fractional reserve by brokers.
For beginners, brokers use clients' BTC deposits to manufacture orders in the order book as if it were real, knowing that the average withdrawal time does not affect your same-day trade operation. 100% profit on top of your Real BTC that you left at the brokerage. When you withdraw your BTC, it is required to put it back in place to keep the creative orders in the order book. If it doesn't reset, it deletes those orders and the price goes up with the users' true orders. When there is panic in the market, a mass pullback occurs. And the brokerage is obliged to block withdrawals, as it has no real BTC balance to meet the demand for withdrawals. Many of them sold with fake orders. At that point, the brokerage is insolvent. Either declare bankruptcy or seek new investors to replenish BTC balance and keep working. Therefore, the brokerage is NOT A WALLET. It is only for exchange (exchanging fiat for BTC or vice versa). This practice is the same as that of banks. If there is a run, at any time, on the banks, there is no balance, as your money has been 95% borrowed. You only have a number on your account as a receivable credit. That is why it is advisable to withdraw high volume from the bank or exchange it for a long-term asset with guaranteed ownership. Otherwise, from one hour to another, banks declare insolvency or bankruptcy. Bye to your heritage. If you go to court, you are entitled to R$250,000 covered by the Guarantor Fund. More than that, who knows when. Ask your grandparents about the confiscation of Plano Collor savings in 1989 (Brazil). Recently, we see several US regional banks in insolvency or bankruptcy.
So BTC's true place is in your private cold wallet. Learn to do it correctly. And use the Weekly DCA Hold for better long-term (4-10 years) profitability with guaranteed ownership of your equity.
#Bitcoin Fixes This
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[Publicado in Portuguese] https://t.me/TutorialBTC/7718
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🎯 MOTTO BTC: Don't Trust, Verify.
🎯 Rule Nº1: "Not your keys. Not your bitcoin and social medias"
🚨 Beware of BTCs FAKES: The real bitcoin belongs to those who have their PRIVATE KEY 🔐.
🛑 AVOID FALLING FOR SCAMS! LOOK FOR TRUTHFUL SOURCES.
✅ Official Reference Sites
- https://bitcoin.org/en/
- https://bitcoin-only.com/
- https://bitcoiner.guide/
- https://en.bitcoin.it/
- https://cointastical.medium.com/bitcoin-news-media-and-analysis-sites-6850246df777
✅ Quick Tutorial for Beginners - In many languages
- https://bitcoin-intro.com/
- https://bitcoinheiros.com/intro-bitcoin/ - In Portuguese
- https://www.bullbitcoin.com/buy
✅ Bitcoin Fundamentals Summary
- https://livecoins.com.br/os-fundamentos-do-bitcoin/
✅ NO KYC
- https://bitcoiner.guide/nokyconly/
- https://bitcoinqna.github.io/noKYConly/
- https://kycnot.me/
- https://foundationdevices.com/2023/03/bitcoin-doesnt-need-banks/
- https://github.com/cointastical/P2P-Trading-Exchanges
✅ Privacy Web
- https://foundationdevices.com/2023/03/privacy-on-nostr/
- https://ron.stoner.com/nostr_Security_and_Privacy/
- Tools: https://t.me/TutorialBTC/6809
⚠️ Two things you need to know not to fall for SCAMS
- https://t.me/TutorialBTC/2165
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