Discussion
Its as if paper bitcoin wasn't bitcoin 😂
Truth will shine through
Isn't revelation time coming soon as far as disclosing all etf wallets?!?... I think I heard that mentioned in a presentation from someone from River at the saylor Bitcoin for corporations event.
Would be nice. You can only lie about having something you don’t actually have for so long
🧐
अब के बताऊं मैं अंग्रेजी में है सो।
This rug may have the potential to make FTX look like child’s play. But, how else are we going from $220k back down to $55k?
Coinbase please rugpull these ETFs so we can gave 15k bitcoin again, lol. No I'm serious.
Been saying it from beginning. It’s only paper Bitcoin but their volume is powerful enough to eventually short and manipulate futures to manipulate the price as they wish.
When Coinbase rugs Blackrock?
ETFs are the gateway to the question: who's holding my (balls) Bitcoins?
how does this work? (briefly)
The buyer and seller have an intermediary (Prime Agent) that confirms sales by recording them in contracts or paper ledgers, rather than by the Bitcoin physically moving.
Sort of the way banks "transfer" gold by writing a deduction in one list and a credit in another. They move ownership, but not possession, by using titles.
I think. 😂 I'm guessing.
"recorded off chain"
that's gonna be rough when they actually try to sell it
They're just going to move it around with accounting transactions forever, since they're all KYCd and can be punished in a court.
they have to gain a pretty substantial part of the supply to be able to really do much
what about when there is a bank run on it?
Can't really bank-run Bitcoin, since we're all hodling.
the ETF/stock equivalent of a bank run is a price crash
yes it will be very bullish for actual hodlers
Besides, they have MSTR on their team. He owns a lot.
lol, 140M the supply is 21M and if i'm being generous they have 2M, and about 3M is lost so they have at best 9%
Hardly any Bitcoin moves. That's the effected supply.
i think the point is that the moment the hodlers are needing some fiat for that once in a decade small sell all at once it will flatten their paper market
this is not the silver or gold market... both of those the supply is majority controlled by cartel
True.
Should be interesting to watch. 🍿
yeah, i don't think there needs to be anything more than smug confidence that in the event of liquidity up massively and bitcoin price goes vertical that long term hodlers who are in cold storage might drop some into exchanges and sell at market price, from the same stimulus, which ultimately comes back to central bank QE returning hard because bonds are breaking
i think something like 10% extra bitcoin comes on the market for sale it will clear out the orderbooks completely and everyone who is holding leveraged paper bitcoin is margin called and buh bye
Isn’t that the same as gold?
If anyone wants some paper BTC I got loads here. I make you a nice price.
Yeah, they're just creating it like e-gold. They don't care about the currency aspect, or self-custody, just SoV and hedging.
the bank run will be fun
they don't have enough bitcoin even as a cartel to really change the price that much
as someone pointed out, yes, the "bitcoin on the market" they own a substantial share but in a massive bull that runs out of their control if the hodlers blink and dump a small amount of their holdings on the market they can wipe out all of teh paper
this is not the silver or gold market... they don't have the actual lever
it isnt legible to me
what tyler palahniuk is saying
but yesterday someone was sayin they had .6 of one btc disappear & they didnt meant for that to happen like equiv. of 840,000 individual pieces of cupronickel [copper–nickel (CuNi): alloy of copper w/ nickel, usually along w/ sm quantities of other elements added for strength, such as iron & manganese. the copper content typically varies from 60 - 90%]
re: halvening or whatever
idk people just say things to my face &
im just like: alright. ya said it directly to me. i did hear it. i do understand english. cant verify obvi. cant vet. also dont care. dont have time for more other than: said to my face to me so i am moving that along to you & whoever else has eyeballs & can see nostr cos i dont have a better way to get anything to just you at this time & thats ok.
there is prolly no method i would trust anyway. like what if ur account on nostr isnt you. how would i even know. what if you died 3 years ago. got shrunk inside a tv. & nostr jack is ai jack. & died 3 years ago jack is a ghost that's so pissed no one even noticed nostr jack is ai jack.
im saying this on the slim chance of if that is true, well
i noticed
i am
in solidarity with your ghost
so be pissed at everyone else not me
ok i didnt notice im guessing long shots
imagine if i was dead-on
tho
how
lucky
id
be
the only one on earth
your ghost isnt pissed at
ok this can be tomorrow's
evening tent story
Sounds like paper bitcoin games
My thoughts exactly. This is how they neuter it like they did with gold.
Another reason why one doesn't buy a freaking paper ETF
When Coinbase is hacked in the future, we need more than just Popcon 🍿
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Doesn't that circumnavigate AML and therefore illegal?