the lending I understand and am working on because you can’t withdraw the bitcoin while you have a loan outstanding against it
for a normal bitcoin deposit, we don’t get many requests for this. you can always withdraw your bitcoin from strike for free. what would proof of reserves on bitcoin you can always withdraw solve? you can never truly prove it. if you want to ultimately prove your bitcoin is there you should just withdraw it right?
That makes sense, guess I’m thinking from someone on an outside perspective who hasn’t used Strike before, ensuring any Bitcoin bought from Strike isn’t a IOU
You're funny. If one person withdraw, it doesn't prove anything, if 50% of all BTC are withdraw at once, it proves you have at least 50% of it, if 80% withdraw, it proves at least 80%.
The only way to prove it that way is that 100% of all BTC of all customers are withdraw all at once. And this would need to be repeated at random interval to prove it really.
There must be a way to prove the reserve otherwise self-custody is the only viable solution.
