Hacks and your Bitcoin

in #bitcoin4 years ago

The recent Bader hack which lead to the popular Cefi Celsius losing some money reminded me of what i have been letting people know as "how much they should put into Celisus".
The quick and skinny answer: only put in what you are willing to lose. The longer answer is to view all money held with Cefi or Defi apps as a business investment you are making and to view the BTC you hold with them in a similar fashion to that. If your investment in this "Cefi business" is not rewarding you for the possible risk of losing your investment, then you are holding way too much BTC with them or you should reconsider using their service all together.

In the end, you should always be holding more BTC in cold storage in your custody, with you holding the keys, than you should ever have earning you yield in a Cefi or Defi.

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thanks for the upvote