The junior Senator of the United States, Senator Ted Budd (R-NC) Introduces 'Keep Your Coins Act' to Protect Right to Use Self-Hosted Wallets
These act was introduced to allow individuals to maintain the custudy of the coins or cryto currencies in there self-hosted wallet. He further stated that the reason for this "Keep Your Coins act" would protect an individual’s right to conduct transactions with cryptocurrency assets without the need to utilize a third-party intermediary. And the reason behind this is a prior to FTX collapse that it would save people from third party risk.
Needing a third party, middle man to confirm your transaction, to complete a trade, to play as an Escrow is nothing wrong.These act was introduced to allow individuals to maintain the custudy of the coins or cryto currencies in there self-hosted wallet. He further stated that the reason for this "Keep Your Coins act" would protect an individual’s right to conduct transactions with cryptocurrency assets without the need to utilize a third-party intermediary. And the reason behind this is a prior to FTX collapse that it would save people from third party risk.
It is only wrong if you choose a bad one to use. Bitcoin with its Peer-to-Peer transaction design and its strong, decentralized network, can not be attack (in practice) and no censorship is a good third party, a middle man for you.
There is chance for a network 51% attack but cost is bigger than benefit and today with bots to nearly instantly detect wrong things on-chain, many full nodes globally to detect suspicious things, such attacks will hardly to gain profit.
Lastly but in my opinion, most important, don't read any news from bitcoin [dot] com. You have bunches of websites to read news, don't read news from that site. Because it is from Roger Ver team, a scam team of Bitcoin Cash. You don't want to be a free shiller for them, do you?
Archive https://web.archive.org/web/20171212053559/https://www.bitcoin.com/
They only changed to Green theme after failing to say Bitcoin Cash is Bitcoin.
