Strategister on Nostr: Hey Matt, at 4:56 in your video, you say/write, "The supply of new Bitcoin does NOT ...
Hey Matt,
at 4:56 in your video, you say/write, "The supply of new Bitcoin does NOT increase" which is technically correct, but factually also incorrect.
A friend bought BTC within his European Revolut bank app. He asked my help transferring it to cold storage. Revolut only allowed $2K in value to be withdrawn daily. This was in March-2024, I don't know their current policy. Back then, customer service flatly refused a full transfer. Only option was selling the BTC, move the money elsewhere, repurchase, and move to cold storage. The whole process was tiring and without my help this friend would have given up.
Moral of the story: Banks will abuse the ingrained need for convenience by non-tech BTC prospects to 'increase the supply', or put differently, to sell these people the 'beneficial right' to BTC as Revolut calls it in their terms and conditions.
at 4:56 in your video, you say/write, "The supply of new Bitcoin does NOT increase" which is technically correct, but factually also incorrect.
A friend bought BTC within his European Revolut bank app. He asked my help transferring it to cold storage. Revolut only allowed $2K in value to be withdrawn daily. This was in March-2024, I don't know their current policy. Back then, customer service flatly refused a full transfer. Only option was selling the BTC, move the money elsewhere, repurchase, and move to cold storage. The whole process was tiring and without my help this friend would have given up.
Moral of the story: Banks will abuse the ingrained need for convenience by non-tech BTC prospects to 'increase the supply', or put differently, to sell these people the 'beneficial right' to BTC as Revolut calls it in their terms and conditions.