Oh, this isn't how I understood it. I thought his password manager was only protected by an 11 character word, and once opened, this revealed the seed phrase. But since seed phrases didn't exist in 2012, the only thing he could have stored would be the private key, like what I guess you use.
Yup, saw that, and I also saw some good analysis already by Francis Poulet (spelled name wrong). So it does look legit, but who knows how it happened.
Or maybe trade the (perpetual) futures only. As a trader, this is the last thing I wanna worry about.
Us hardcore Bitcoin maxis aren't in Bitcoin for the trade or price appreciation. The fact that Bitcoin is a bearer asset cannot be overstated. I'm sure that at one point, an exchange will collapse and whatever profit you are owed will not be paid. If the idea is to hold Bitcoin long term vs. getting some price appreciation, then owning a futures product is as good as holding paper gold and expecting someone to give you actual gold when everything goes to shit and there is some collapse. Banks don't even pay out fiat in a collapse, and so they certainly aren't gonna give you owed gold or Bitcoin if all u have is a paper claim.
