Nostr Web Client

#Saylor was asked if #MSTR will ever show proof-of-reserve and Saylor replied that the reason #Strategy doesn’t show proof-of-reserve is for security reasons.

This answer raises more than an eyebrow. It’s unlikely that Saylor isn’t aware that he could prove MSTR’s #Bitcoin reserves in a private manner through zero-knowledge proofs. Maybe that’s not a service that #Coinbase is willing to provide but why not just say so in that case?

It seems to me that this response hides something bigger. I really only see two reasons as to why Startegy wouldn’t show proof for its #BTC holdings:

1) There are some accounting trickeries going on between Coinbase and their big institutional clients (#BlackRock, Strategy…). Maybe some form of paper Bitcoin or other tricks allowing them to manipulate the market.

2) Saylor knows, he will have to sell some BTC at some point and he doesn’t want the move to be broadcasted publically until officially announced.

What other reasons do you think of?

If Saylor is so concerned about the #privacy of its holdings maybe he just needs a #Monero.

https://xcancel.com/BitcoinMemesIRL/status/1927180295138103434

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Discussion

MRbtc 7mo ago

Saylor is a puppet.

LogicallyMinded 7mo ago

Here is #Saylor’s full answer:

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- Saylor says that at some point he may publish proof-of-reserve using ZKP but he makes it seem like this it’s not being done today because the tech isn’t functional which it is.

- Saylor says the best way for a company to show proof-of-reserve is through an audit firm. He basically misses the point that people want to see proof-of-reserve so that they know in a trustless manner that they don’t contribute in printing paper #bitcoin when buying #MSTR.

Chuck Langstrumpf 7mo ago

Saylor is likely the next SBF. He is full of shit.