Without corresponding proof of liability, it doesn't say that much. Celsius also did proof of reserves
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Great pt
True, but I'm thinking something like Unchained where you hold 1 of 3 keys. At least you would know if your bitcoin was re-hypoteicated away. The fact that they don't have this before the rollout makes me nervous.
Even 1 of 3 seems very pointless if two parties can collude to take the coins. Seeing them on chain still doesn't say much, they can still be rugged at anytime, it's a false sense of security
Imo just stay humble stack sats in cold storage, don't ever worry about any of this, and just spend/sell coins when needed