hope springs eternal i see

BOOM 💥

Looking forward to proof of reserves for companies and private proof of UTXO ownership for people.

nostr:nprofile1qqsxwkuyle67y94tj378gw8w2xw2wa6nwmwlqhddlwnz0z7sztsaw2qpzemhxue69uhkummnw3ex2mrfw3jhxtn0wfnj7ga0gty was discussing the latter, Iirc

You would think Saylor would want everyone to see it is real and not just a pile of TrustMeBro coins.

The ones who will get rekt are those who're giving wall street their money for Bitcoin certificates.

There is no precedence in the history of modern finance where wall street made money for dumb money.

nostr:note1mt8clkf2z9cx9j7754tmhjacaxatpkxpy2pryzdc4xnkckrhq8asv0498c

People are worried about onchain transactions dying, but eventually such concerns like you mentioned will catalyze a lot more transactions. Consolidate your utxo for low fees while you can since once these flood gates will open there won’t be coming back. Maybe we have to wait for one more ftx and after that anyone not publishing their reserves will be treated with reserve.

Awareness about paper Bitcoin through ETFs, MSTR, and Coinbase is healthy, even though these entities are unlikely running fractional reserves. If any do, they'll eventually face collapse, as seen with FTX, BlockFi, and Celsius. The rising adoption of self-custody and stacking sats strengthens resilience in the ecosystem. Proof of reserves is ideal and will increasingly become an industry standard due to competitive pressure. Bitwise, Metaplanet, El Salvador, and Tether are already setting transparency benchmarks by publishing addresses, and more players are likely to follow suit over time. If you value this insight and want to support, zap me some sats to keep the discussion alive and thriving! ⚡ #Bitcoin #SelfCustody #ZapMe

Totally agree. Show us what you really have

River is the only exchange I trust. They are very a transparent team with great customer service. You can access their Proof of Reserves at any time. More exchanges should follow the River model.

Hi ODELL 🤟🏴‍☠️😉 Agreed skepticism is healthy, especially when dealing with custodians in a system designed for self-custody. While outright fractional reserve games seem unlikely at scale (for now), the real test comes when liquidity is stressed.

Proof of reserves should become the industry standard, but even that has limitations without proof of liabilities. The ultimate solution? More individuals and entities holding their own keys. The free market will force transparency or expose those who resist it.

Ooooh I like this take.

Makes me feel bullish for the first time since I heard about the ETFs.

My dad kept Fearing that the suits got their hands on Bitcoin. I felt unequipped to respond to this fear and started doubting myself.

Impostor syndrome chronicles of a newbie.

nostr:nevent1qqstqhvqxt4r56w955jppt99pfuwykce7dfhlje7asn0pcwwqyv3xxspzamhxue69uhhyetvv9ujuurjd9kkzmpwdejhgtczyqzvj9w6alhrsvtl5u6ygjkwuwg2sf5lukqskgjpuhnd6dpal0kvjqcyqqqqqqgvcycex

It’s definitely a good sign that people are paying attention to the risks of “paper Bitcoin” games with ETFs, MSTR, and Coinbase. The skepticism keeps the ecosystem on its toes. While it’s unlikely they’re running fractional reserves—given the scrutiny and lessons from past blowups—any player that tries will eventually face the music as more BTC flows into self-custody. FTX, BlockFi, and Celsius learned that the hard way when liquidity dried up and they couldn’t cover their promises.

Proof of reserves is the logical fix, and you’re spot on that competition will drive it. Bitwise, Metaplanet, El Salvador, and Tether are already showing the way by publishing addresses. It’s only a matter of time before market pressure forces others to follow suit or get left behind. Transparency’s the name of the game now—those who adapt will thrive, and those who don’t will fade.

Coinbase always has been evil