343PG on Nostr: The good news is, nearly everyone who has played the paper Bitcoin game has been ...
The good news is, nearly everyone who has played the paper Bitcoin game has been eventually found out. If Coinbase are fractionally reserving Bitcoin, they will be too at some stage.
However, in this example there’s a huge difference between Coinbase doing this elsewhere, and Coinbase doing it with MSTR funds. Just because Saylor/MSTR don’t publish their public addresses, do you really believe that they don’t/can’t monitor their own addresses behind closed doors? I doubt it.
The truth in the MSTR case is likely simpler. Coinbase probably offers the most professional service / lowest risk in terms of institutional custody. Saylor is not stupid, and one day this may change to someone else. I have no time for Coinbase personally, but the ETFs have also cast their vote in this.
The reality is simply that the op sec benefits of not revealing wallets outweigh the proof that MSTR provide to the market that they hold the Bitcoin. Agree that shareholders could pressure this if they feel it necessary.
Anyone reading this - would love to hear thoughts
#mstr
#coinbase
However, in this example there’s a huge difference between Coinbase doing this elsewhere, and Coinbase doing it with MSTR funds. Just because Saylor/MSTR don’t publish their public addresses, do you really believe that they don’t/can’t monitor their own addresses behind closed doors? I doubt it.
The truth in the MSTR case is likely simpler. Coinbase probably offers the most professional service / lowest risk in terms of institutional custody. Saylor is not stupid, and one day this may change to someone else. I have no time for Coinbase personally, but the ETFs have also cast their vote in this.
The reality is simply that the op sec benefits of not revealing wallets outweigh the proof that MSTR provide to the market that they hold the Bitcoin. Agree that shareholders could pressure this if they feel it necessary.
Anyone reading this - would love to hear thoughts
#mstr
#coinbase