In October 2017, Dutch native Didi Taihutu and his family sold all their valuables and their house for Bitcoin. The decision paid off and the Taihutu family has traveled all over the world and recently moved to Phuket Island. In the year On November 30, 44-year-old Didi Taittu told CNBC that after years of storing crypto in cold storage, centralized exchange (cex) platforms and decentralized exchange (dex) protocols, a Dutch family decided to actively transfer $1 million. To lift protocols in digital assets to give us more control over self-possession.
DD Taihutu and family are taking proactive steps to self-protect their crypto assets
Just five years ago, Bitcoin.com News reported on the Taihu family, who decided to sell their house, children’s toys and vehicles to stockpile Bitcoin (BTC). On Wednesday, the family’s patriarch, Didi Taihutu, spoke to CNBC and explained that the family is moving $1 million worth of crypto assets to dex protocols following the FTX crash.
Taihutu revealed that before he decided to actively move his money from sex platforms to Dex protocols, the family had accumulated some money on trading platforms such as Bybit and Kraken. “If you don’t send your bitcoins to an exchange, your bitcoins stay in your own wallet, which means you have full control of your coins,” Taihutu said. [But] You connect to Dex, and through that connection you trade from your own wallet.
The fight continued:
If Dix falls, it doesn’t matter, because the bitcoins are always in your own wallet.
Taihutu said he learned his lesson in 2017 when the sex platform Cryptia was hacked and he lost four bitcoins. “Since then, I’ve always looked for alternatives,” Taittu said. As for FTX, Taihutu insists that “a lot of influencers were paid a lot of money to promote that.” The family won’t disclose how much they hold in crypto assets, but they say roughly $1 million worth of BTC, ETH, LTC, DOT and other tokens will be transferred to decentralized exchanges.
Taihutu said the drama surrounding FTX is similar to what happens in every Bitcoin cycle. “We seem to have learned this lesson in every bitcoin cycle -” Mt Gox was, in China banning bitcoin, banning mining. There is drama every time,” he added. Taihu believes wholeheartedly that BTC is serious and simply doing what the leading crypto asset always does.
“Looking at the current situation: we have a big war, we have a big financial crisis, we have FTX, we have Celsius, we have many signs of a bear market,” Taihutu told CNBC. “I think Bitcoin is very strong at $16,800. To me, Bitcoin is still working perfectly and is still doing what it does: being a decentralized currency that can be used by everyone all over the world,” Taihutu concluded in an interview on Wednesday.
What do you think about the development of the Taitut family and the family’s $1 million move from sex apps to dex protocols? Let us know your thoughts about this in the comment section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
DisclaimerThis article is for informational purposes only. It is not an offer or solicitation to buy or sell, or a recommendation or endorsement of any products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the Company nor the Author shall be liable, directly or indirectly, for any damages or losses arising out of the use of or reliance on any content, goods or services referred to in this paragraph.