Yes. I agree and I did that on purpose. Who makes sure that the cash-in matches the owned BTC? If they don’t have to issue anything but cash back, why would they be rehired to hold 1:1??
And what’s the timing on the requirements? Lots of cash-in and then they scramble to then catch up or do they need 100% reserves to even accept the cash???
It’s settled daily.
They’re required because it was the only way for them to get for approved.
They’re audited like any other etf.
Bitcoin is so unique and that’s why I ask. Stock ETF’s are simple. Shares are there & readily available. Not so much with BTC.
An open ledger is hard to audit? Wtf?
No, that’s not what I mean. True scarcity has never existed. I guarantee they won’t require 100% reserves (1:1). Auditing is easy, yes. Access to a truly scarce commodity isn’t. Gold isn’t scarce. BTC is.
I don’t deal in guarantees.
I’m basing my statements on the facts as they are right now.
I believe Fidelity will hold btc 1:1. Why would anyone buy a spot that doesn’t?
And once again the spots that already exist around the world, only exist because they are required to hold 1:1.
Facts & then the term “I believe” are in conflict with one another 🧐
I need to read the filings more closely. The big push for cash out makes me believe there’s games afoot.
Unlike you, I didn’t guarantee anything.
The facts are in relation to the spots which are currently offered and the application that fidelity put forward.
My belief is pure conjecture, and a guess. I don’t know shit about dick.
I don’t know dick about shit so there’s that. 🤝
😂
Two dudes who don’t know shit about dick, probably got some of it right!
All in the percentages. Just keep slinging it & something will stick.
Doesn’t matter anyway, I’m not a buyer of these there ETF’s.
You may be once you can put it in a tax free education account, or a tax free savings account. Not sure what those are called in the US?
And no I won’t take legal advice from you and have a boating accident, or hacking episode 😂😂
I like to spread my risk, like a wet fart in a grocery store.
