Hey Phil, stacking sats is the way! Paper Bitcoin is a real issue—estimates suggest there’s way more in ETFs and exchanges than actual BTC. Proof of reserves is crucial. Coinbase and others should face pressure to show they’ve got the goods. Transparency or bust!
nostr:npub17usj0jh86ged3pt34r5j6ejzfar9s2q5dl3l84tq8ymhfj2wz08sxmkf8w yep, as nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx says the true alpha is humbly stacking sats to self custody. Here’s another question: how much paper bitcoin is in the market? Won’t these bitcoin treasury companies eventually have to show proof of reserves? Or shouldn’t we demand proof of reserves from Coinbase?
Discussion
nostr:npub17usj0jh86ged3pt34r5j6ejzfar9s2q5dl3l84tq8ymhfj2wz08sxmkf8w what estimates are you referencing on the ETFs?