healthy that people are concerned about paper bitcoin games by etfs, mstr, and coinbase
unlikely they are running fractional reserve but any that do will get rekt eventually as more coin is stacked to self custody - this is what happened to ftx, blockfi, and celsius
ideally more of the industry moves to proof of reserves - this will happen over time due to competition - bitwise, metaplanet, el salvador, and tether already publish addresses - more will in time with free market competitive pressure
ODELL
npub1qn…w95gx
2025-04-01 14:35:36 UTC
Author Public Key
npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gxPublished at
2025-04-01 14:35:36 UTCEvent JSON
{
"id": "b05d8032ea3a69c5a52410aca50a78e25b19f3537fcb3eec26f0e1ce0119131a",
"pubkey": "04c915daefee38317fa734444acee390a8269fe5810b2241e5e6dd343dfbecc9",
"created_at": 1743518136,
"kind": 1,
"tags": [],
"content": "healthy that people are concerned about paper bitcoin games by etfs, mstr, and coinbase\n\nunlikely they are running fractional reserve but any that do will get rekt eventually as more coin is stacked to self custody - this is what happened to ftx, blockfi, and celsius\n\nideally more of the industry moves to proof of reserves - this will happen over time due to competition - bitwise, metaplanet, el salvador, and tether already publish addresses - more will in time with free market competitive pressure",
"sig": "4603188993e2eb7d04e892de95642bd1dd05bceee755fae21e589f1eb853c1b9dcbcd270f7d8a3a656dbc83760cc52ad3bfefe521db6436fc2da621dc862c2a7"
}