BitcoinStu on Nostr: No ETF provider is going to rehypothecate the most bullish asset on Earth, which has ...
No ETF provider is going to rehypothecate the most bullish asset on Earth, which has a fixed supply and can be settled globally in 5 minutes.
What happens when bitcoin blasts to 250k and people take profit? The ETF provider goes bankrupt and it's directors all go to prison.
We don't know wallet addresses but we know how much they claim to have, which must be the amount to cover their ETF holders and that liability. If they rehypothecate, at some point they will say what?
"Currently Blackrock holds 23.5 million bitcoin". How's that going to work?
Dilution is not what you should be worried about. Mining pool centralization is a big problem, an attack, that is going on right now as we speak.
Another problem to fear is them soft-forking some bullshit into the code that adds new opcodes that can be exploited. Covenants and other horseshit are a great example.
Plenty of things to worry about. ETF managers lying about how much they have in custody is not one of them.
What happens when bitcoin blasts to 250k and people take profit? The ETF provider goes bankrupt and it's directors all go to prison.
We don't know wallet addresses but we know how much they claim to have, which must be the amount to cover their ETF holders and that liability. If they rehypothecate, at some point they will say what?
"Currently Blackrock holds 23.5 million bitcoin". How's that going to work?
Dilution is not what you should be worried about. Mining pool centralization is a big problem, an attack, that is going on right now as we speak.
Another problem to fear is them soft-forking some bullshit into the code that adds new opcodes that can be exploited. Covenants and other horseshit are a great example.
Plenty of things to worry about. ETF managers lying about how much they have in custody is not one of them.