Nah, bro. I’m sitting over here waiting for bitcoin to moon. While Coinbase could be adding 100k, 250k, 500k bitcoin to the “absolute scarcity” … every bitcoiner should care. That’s why I’m so pissed off about it.
Your position is the exact reason I’m yelling about it and won’t shut up.
Lol. You think Saylor/Strategyt doesn't have the addresses where that btc is stored? And that Coinbase would take that risk? delusional
Sorry, maybe that was a bit harsh. I do share your concern, but I'm a little more optimistic. Basically your concern is just about price. This will sort itself out in the long run. Either the bitcoin is there (most likely, since they would be auditing it and it not being there exposes Conbase to billions of dollars of risk) or Conbase is fucking around making paper btc (in which case when they get caught out they would get insanely rekt and go out of business). In either scenario bitcoin will continue on as usual.
Exchanges fractional reserving bitcoin has always been a threat but it’s a good way to blow up your exchange. It’s just a form of leverage, and if they do it recklessly they could cause a short squeeze if there is a bank run on the exchange they’re fucked 🤷♂️
You get more Bitcoin if there is paper Bitcoin being sold. Stay humble and stack sats. Easy solution to this perceived problem.
