🚨 SHOCKING: Saylor cannot and does not want to provide proof of reserves for his Bitcoin.
Worse.
He says proof of reserves is a bad idea (see 0:42).
This level of BS is a huge red flag. Check it our for yourself. Video credit: @MitchellHODL
Discussion
It’s paper
Shocked... Not shocked.
From a technical standpoint, does his counter argument hold any water?
Are there any security implications of publishing this information?
Make Proof of reserves the standard
He equates publishing bitcoin addresses with publishing your kids’ addresses. Does he understand how public-private key encryption works?
What is proof of reserves worth without proof of liabilities?
How many people need to be kidnapped off the streets before we take security and privacy seriously?
We have zero idea what bad actors are capable of, or what information that can use against us.
If you have concerns buying stock in his company, just stack sats and thank him for pumping your bags. Hopefully with your privacy intact.
I always go with my gut feeling and I'm no expert, but I've been right. Most of the time, and I'm gonna tell you, he doesn't have all that Bitcoin.
this would be deeply disturbing if I held any $MSTR
If Microstrategy had proof of its Bitcoin Reserves then people probably wouldn't buy my company's Fiat currency."
I kinda see his point. Makes a person a target immediately. Like, if you wore a sign saying you control the keys to bazillions of dollars and walked down the streets of (insert horrible neighborhood) alone. You’d be kidnapped/mugged/tortured for account information in minutes.
If an institution posted the public keys on its website, though…that “might” be acceptable. Dunno.
Proof of paper
I get that proof of reserves is the “gold” standard in most people’s eyes but he essentially does this through the SEC and auditors but the public doesn’t get the bitcoin address. As an MSTR holder, that’s good enough for me and reduces the attach surface imo
The main falsehood stated by #Saylor is that you can’t show proof of reserve without revealing your pub keys. Saylor knows this isn’t true as he mentioned himself the possibility of using zero-knowledge proof.
Why is he disingenuous?
I believe Strategy has a bunch of paper #bitcoin
Gotta be in the open man, weak excuses here
if he still getting round with laser eyes on twitter he should ditch them
Saylor is a scam