Is Coinbase Selling Paper Bitcoin?
https://blossom.primal.net/f9cd2704528a8fe80725d0928372b33e590d06a22b6e0576071a65dd85452e54.mp4
In his April 29, 2025 video, about "Paper Bitcoin", nostr:nprofile1qy8hwumn8ghj7mn2w4khqtndv5hszythwden5te0dehhxarj9ekxzmny9uqzpprrqa5g5z0vzy5k06c9gnnc485gcj84qufv88k5j8ljkmaqrxhgkgzyc0 argues against the existence of paper Bitcoin, showing an image with BTC distribution across exchanges and banks, including Revolut. (See image below)
I have personal experience with a Revolut account (the App) only allowing $2K worth of BTC per day to a hardware wallet.
Buying $25K BTC in the Revolut App will take you 10 days to withdraw to self custody. Why would Revolut do this? Because of fractional reserving, or paper Bitcoin. You THINK you have $25K in BTC, but Revolut only bought $2K, $5K or $10K worth, so when you start to withdraw, Revolut delays the process and buys more BTC to "fill their reserves" measured over all customers. This is very dangerous and exactly the reason why banks fail.
So while Revolut may indeed have 28543 BTC at Coinbase, nobody knows how much 'paper BTC' they have sold in their App to customers. My experience with Revolut indicates that they are selling more, they are levered up.
Revolut's crypto terms and conditions explicitly state: "We may limit the amount of cryptoassets you withdraw. We will tell you the amount of any limit before we accept your instruction."
Hey Matt,
at 4:56 in your video, you say/write, "The supply of new Bitcoin does NOT increase" which is technically correct, but factually also incorrect.
A friend bought BTC within his European Revolut bank app. He asked my help transferring it to cold storage. Revolut only allowed $2K in value to be withdrawn daily. This was in March-2024, I don't know their current policy. Back then, customer service flatly refused a full transfer. Only option was selling the BTC, move the money elsewhere, repurchase, and move to cold storage. The whole process was tiring and without my help this friend would have given up.
Moral of the story: Banks will abuse the ingrained need for convenience by non-tech BTC prospects to 'increase the supply', or put differently, to sell these people the 'beneficial right' to BTC as Revolut calls it in their terms and conditions.
EARN SATS ⚡ BY JOINING A TRUTH NETWORK
Gov' or big corp workers who hurt others usually don't suffer the consequences of their actions. They suppress their moral compass with, "I'm just doing my job," and go home while their victims are ruined.
What if the truth about their actions and victims is constantly repeated to them? It gets uncomfortable very quickly. That is the power of truth, while trolls have to revert to lies.
Want to join a network of truth-sayers? Then like this message. You'll be rewarded with Sats ⚡ for every post.
Nostr is the perfect tool for this, and we need it more than ever. More and more people are being victimised (*) and it's certain that you'll also suffer that fate one day. Instead of paying expensive lawyers, who not reward Nostr folk who help out?
(*) I once talked to a single mom where child protective services tried to take away her child with totally bogus reasons. We discovered it was all about money with hefty gov' subsidies for every child taken. We shut down the case manager by constantly repeating her behaviour to her. This method works. ⚡⚡
Hey nostr:npub1xtscya34g58tk0z605fvr788k263gsu6cy9x0mhnm87echrgufzsevkk5s,
Although I share your enthusiasm, it's also good to ask, "Coud I be wrong?" which leads to researching other opinions.
I found the article below about the inevitable centralisation of Lightning, which means... in our enthusiasm, we are just recreating the Fiat network with easy central control and censorship.
Only those who delve into the Lightning network will be able to understand the intricacies. It's not easy and many will never understand it. Opening channels for example, or the inability to move sats to BTC self custody once the BTC price and mining fees move higher.
We hope that developers will solve these issues, but as they do, they are building a highly centralised network with big nodes (Wallet of Satoshi, Acinq, Binance, Kraken etc) that are easily co-opted by government. BTC exchanges already require KYC, what if big Sat hubs are next?
Links to thorough articles refuting the article above are highly welcome.
Hey Pablo,
a quick NIP idea I wanted to leave with you. How about a plugin that websites can use allowing Nostr users to subcribe for updates using their npub? The benefits:
(1) Increases Nostr network effect and growth.
(2) Gives users anonymity when signing up at different sites.
(3) Sites cannot sell user names and emails anymore.
(4) Site hacks? No problem, only npubs end up on the street, instead of names and emails on the Dark web.
(5) Those websites are incentivised to publish on Nostr, increasing opportunities for donations and commerce with Zaps instead of fiat.
(6) Nostr user account differentiation. The account, posts and messages about gardening don't mix with the posts and messages about political debate. This increases user privacy.
Listing above benefits, it seems an easy sell, especially to websites with decreasing subscriptions and unending fiat settlement issues.
Modern slaves are not in chains, they are in debt.
But... remember that voluntary slavery is not against the law. Have you tried talking to one of those debt slaves recently? About planning an escape? About doing the work? In their eyes, YOU are the crazy one.
nostr:note1n7fx4t6aep7ck2hzpws4fdulnf4d9qcvac6w6mehjjsa3ap223hsszcelu
The fashion industry (also) as attack vector has passed the conspiracy theory phase a long time ago. The unattractiveness is just a recent addition. Find any book or documentary on Morgellon fibers, which cause skin problems for millions. The worst sufferers can literally pull the fibers from under their skin. Most victims have no clue that their polyester or spandex clothing might cause the problem. And similar to the Covid jabs, the dose is randomised for plausible deniability. Your best bet is strictly cotton and dump any piece of clothing that generates even a hint of itching.
How I would keep the price of Bitcoin down, if I was the government you ask? I would periodically seize large chunks of it, and sell those into bull markets, capping the price, demotivating all those with high hopes. Then the 21 mln cap doesn't matter, the hodlers don't matter, and 1 sat never becomes 1 USD.
Get out your popcorn to watch how the emergent behaviour of Bitcoin will tackle this problem. Systems engineer Nicholas Bowick brilliantly describes emergent behaviour of Bitcoin in this great podcast: https://www.whatbitcoindid.com/podcast/why-bitcoins-design-fixes-money
Just select your own state and any future date. 
Source: Find the great documentary on Internet about people robbing banks in Lebanon to retrieve their own money.
Jimmysong, "I don't have many moments on here where I find new people to follow"
Could it be that most people are uninteresting, working their day job, returning home, taking vacations, hardly reading books, or only the MSM promoted ones, getting sick and not understanding why, still jabbing their kids against measles?
Being truly interesting and followable online or offline is hard work and requires an unconventional mindset devoid of fear. Most people don't make that cut. I was utterly shocked how easily many bent/rolled over in 2020/21, just shocked. How I miss pre-2020 when almost everybody seemed interesting. Life was good in that garden of perception.
Thus indeed, an algo scanning for the next Lyn Alden or Jimmy Song makes total sense.
Hey NakamotoX,
I guess it's 2 - 0 for you.
(1) Indeed, after "doing the work" by reading the white paper, watching videos and reading books, BTC is here to stay, no matter who invented it.
(2) Also, Mark Kratter from channel Bitcoin University answers my initial question. https://odysee.com/@TraderUniversity:a/did-the-nsa-create-bitcoin:0
Hey Chris, no matter how hard I try to come up with a reason for Saylor to sell his MSTR awarded shares, I just cannot find any. His selling goes against all points he makes in his numerous videos. Or maybe... Let's assume he's short USD to his eyeballs on his personal account and apparently can't roll over that debt. Then maybe it makes sense to sell his shares. But then again, how hard can it be to refinance, even at 20%, if you hold an asset growing 30+%. It starts to feel like "Do as I say, don't do as I do".
Have seen some back and forth about MSTR and the hard core maxis, but no one seems to be addressing the biggest risk IMO which is even if Saylor is exactly as advertised, what happens when someone in the deep state asks him to turn over his keys for “national security?”
Does he have a plan for that. Would love to see a journalist like say nostr:npub1ahxjq4v0zlvexf7cg8j9stumqp3nrtzqzzqxa7szpmcdgqrcumdq0h5ech ask him that. Does he have a contingency plan, where somehow if that happens, all the coins get auto-distributed via trust to shareholders?
We can all see the debt growing, the crises forming, the state acting increasingly desperate with censorship and flooding the country with illegals. That it would ask for the coins doesn’t seem that farfetched especially after the 6102 precedent.
(Also applies to ETFs obviously.)
I’m an MSTR shareholder, FWIW, would love nothing more to be totally off-base about this risk.
Hey Chris, please scroll to the bottom of this page https://finviz.com/quote.ashx?t=MSTR&p=d
It lists constant selling of MSTR shares by M. Saylor. So on the one hand he's making valid rock solid undeniable points about BTC and MSTR, but on the other hand he's selling every 5000 MSTR shares awarded to him!? Does this make sense? Even if he needs 200Mln for his yacht or a new mansion, why not borrow it with his shares as collateral? Wasn't the basic idea to short fiat instead of going long?
Hey.... wait a minute. If Bitcoin has it's own Pizzagate, where Laszlo Hanyecz bought 2 pizza's (not being children) in 2010 with what would today be $ 700 Mln, how am I supposed to Zap somebody even 1 Sat without looking foolish in 15 years? https://bitcoinwiki.org/wiki/laszlo-hanyecz
At what price would you sell your bitcoin, knowing you'd be returning to an KYC-abusive bail-in-R-us banking system whose regulators literally think you're stupid?
( ) $ 1 Mln per BTC
( ) $ 100 Mln per BTC
( ) $ 1 Bln per BTC
( ) $ 1 Mln per SAT
nostr:note1ajher8m2yhgxtgrhmp6m9kf2e8p0qvmr6a4f7fl9wrlr2u0h0xhqwzzkdy
Hey Valentino Giudice,
Let's analyse your response.
(1) I agree, Freedom Of Speech (FOS) is fundamental, you were born with that right. But it brings insane potential abuse by the speaker who can buy newspapers and radio-TV stations and talk people into a terrible war, where John, Dave and Steve literally go to another country and kill Marie, Bruce and Luca. FOS also convinces people to inject themselves and their children with aluminum and formaldehyde causing autism and endless disease. FOS also convinces people to eat food with E621, E385 and E251 ensuring an early grave after endless hospital visits. So you see, FOS places enourmous responsibility on speaker AND listener.
(2) So why does a small group abuse FOS? Money. It's that simple. And specifically FIAT money. Because if I control speech and thought via my newspapers, I can generate war, get many people killed, impoverish the survivors, while the central bank HAS TO print more money to buy weapons from my 'defence' companies. So I get richer while the world literally burns. You wouldn't do this, I wouldn't, but there are people out there who do.
(3) So naturally, since 2009 (actually since the 60s, 70s), you have a bunch of Bitcoiners spending time to discuss how to stop that madness before we are all killed off by poison, EMFs, AI and robots, leaving the 30K-100K so called elite, but actually parasites, to enjoy beautiful mother earth. Those Bitcoin discussions solve many issues, by1st making people aware of their fiat brainwash that will eventually make them sick and get them killed. No need to sugarcoat this, depopulation is a huge theme with the parasites. Also, Bitcoiners create code and run nodes and miners, design hardware, and people are slowly moving away from fiat, bringing the day closer where the spear can pierce that fiat heart and kill that system off for good.
Tip: Watch Jeff Booth videos for more understanding.
Why has big pharma not made a vaccine against poverty yet? It seems a no-brainer. Poverty hits billions of people globally and is the nr1 killer. Poverty is highly contagious, because being around poor people makes you poor. Many rich people frequently lose all their money and become poor, which proves they were infected by a poverty virus.
“The last time I spoke to nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m, well over a year ago, he told me that nostr was closer to the vision of my paper than Bluesky. Having spent a fair bit of time on both, I don’t think that’s true, though I do think nostr is pretty cool as well, and could create something cool, if it wasn’t completely overrun by people who only want to talk about B1tc01n.”
Hey there bac0t.my.id,
(1) About You. Before this reply I browsed your feed and constantly asked myself, "Why is he/she on Nostr? Why all the food videos and pics? What do all these posts bring to others?"
(2) About Bluesky. After all the abuse by FB, LinkdIn and Twitr, I'm flabbergasted that people would still want to sign up for social networks that require e-mail addresses. Apparently, some people just like abuse.
(3) Nostr users constantly talk about Bitcoin because they understand how fiat money destroys everything, including your future. Instead of only complaining, they work hard on solutions. If you don't get this, you should really ask yourself, "Why am I on Nostr?"
Well said @Leserin. Spot on.
The 19th century movement to improve worker conditions was ligit. Marxism co-opted and twisted it into a tool for ultimate suppression and genocide.
So here we are, in the next well-meaning movement, Bitcoin, where control over the whole planet is at stake. Presidents and senators were killed several times over this. So yes, build, grow and improve, but expect the worst from 'the other side', truly understand the bigger picture and protect yourself.
Below a good example how Marxism, the movement to improve worker conditions, was implemented in Russia beginning 20th century.
nostr:note1cf394zc2dcy3jm2r0k696r52m5e2aw40m0jrxhlur987tuckskrsc0eu9a
Men and women cannot and will never be the same "in all aspects of public and private life".
Feminism was financed by Rockefellers to tax women and break-up families. See the Aaron Russo interview. Single people are easier targets in an increasingly complex society.
Instead of being expert home makers, women are now stressed out balancing different roles as mother, wife and employee. Hollywood and glossy magazines convinces them they can have it all.
Like so many well meaning social movements, feminism was co-opted and turned against the public.
A modern day German law against questioning the H0l0caust? How can asking questions be unlawful? "What did H!tler have against J3ws? What had they done (to him)?" I would ask in high school and never get a good answer.
Fast forward many obscure books... not all J3ws are bad, most are upstanding folk, then and now, but international trouble usually has J3wish elements. In contrast to many other countries where they were expelled, Russia tried to accommodate and assimilate them during the 19th century, for which a high price was paid. Naturally, J3ws did not suddenly overthrow the Russian government. Revolt requires lots of guns and men who want to be paid, so they were heavily financed by.... then globalists, who saw an opportunity in weaponising J3wry and use them in the next divide and conquer scheme that remains to this day. Hence the German law.
Globalists are quite smart, but #Bitcoin, future higher layers and #protocols like #Nostr have the potential to finally neutralise them.
Image below from the book: The Jewish Run Concentration Camps In The Soviet Union.
https://archive.org/details/TheJewishRunConcentrationCampsInTheSovietUnion
Other sources:
- Aleksandr Solzhenitsyn - 200 Years Together.
- Juri Lina - Under the Sign of the Scorpion
- Ralph Epperson - The Unseen Hand