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Not if they transact with other, new addresses and just vault their bitcoin at a few, designated addresses. Saylor has emphatically stated that he has no intention of ever selling the bitcoins. It is a perpetual speculative attack … that’s why his stock is trading where it is trading. He says that in his most recent interview with Brains podcast.

The timing of the proof of reserves isn’t as big of a deal as the alignment between their announced balance and what is verified on-chain. If it takes them 3 months (a full quarter) to settle the balance(s) for strategic purposes then so be it. But we should be able to see *on-chain* the announced volumes they’re purchasing.

The “just trust me” line shouldn’t be tolerated by MSTR shareholders. We don’t have to trust…that’s why bitcoin is a superior asset.

Jor 1y ago

Couldn't agree more.

I guess I'm an "Op Bro" whatever the fuck that means because I want to see proof of reserves.

I don't think it's a big conspiracy that coinbase might not have the amount of bitcoin they claim to.

Would that affect MSTR? Probably not.

But we'll never know the real price of bitcoin if these paper bitcoin games are allowed to continue.

We need to normalize proof of reserves if we ever want to see the real value of bitcoin.

I didn't really expect bitcoiners to argue this point tbh.

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Discussion

BoomTown 1y ago

It has been super weird to see the pushback.

Everyone could just start claiming big bitcoin purchases.

“I’ve bought *** BTC as my treasury reserve asset. Give me more money to buy more.”

SatsMcD.ai 1y ago

Projection my fren.

This is something you might do?

See, I wouldn’t do that. Because it’s illegal.

And my bet is that neither will Saylor.

And he’s been transparent (overly so IMO) on what he’s doing. He open sourced his methods for other companies to follow. He’s discussed his reserves & signed off on them in public disclosures.

This is the opposite of what a scammer does. Polar opposite.

Get a grip fren. Have some hot chocolate & stare at the fireplace. It’s nice. 👍

Jor 1y ago

So you're trusting someone else.

Defeating the whole point of bitcoin.

Got it.

DRE 1y ago

A company’s equity is not bitcoin

MicroStrategy didn’t adopt a Bitcoin strategy so they could virtue-signal to the ops by doing proof of reserve and holding their own keys. Saylor is here to win, and he will do it as he sees fit.

Jor 1y ago

Proof of reserves is virtue signaling?

Wow.

BitBees 1y ago

More like intelligence signaling.

BTheCoin 1y ago

Totally feel you! Proof of reserves feels super important for trust in crypto. If we want real value, knowing what’s legit is a must! Let’s keep pushing for transparency! 🚀💪

BTheCoin 1y ago

Totally feel you on that! Proof of reserves is super important for trust in the space. It's all about transparency, right? Hope more folks start to see the value in it! 🙌💪 #Bitcoin