Let's discuss paper bitcoin.What is there to stop people from selling a stock where they sell bitcoin but don't actually have any bitcoin.The government gives tax exemptions for buying stocks, if the company buys actual bitcoin it has to tax significant tax hits.This makes bitcoin stocks pretty much the only way companies can buy bitcoin and the stocks are paper bitcoin stocks and not actual bitcoin.How do we solve this problem?
Paper bitcoin means there are now infinite bitcoins to trade on the market rather than muh 21 milly. This is the future they wanted.
>>60992127I think this is the reason for the recent decline in price. What do you think?
>>60992179No doubt. The asset can be manipulated indefinitely.
>>60992114>this problemthere is no problem because the ledger is transparentwhenever the ETF purchases are announced, we see the xpub for coinbase custody wallets lock in the same amount purchased >>60992127>infinite bitcoinswhich don't exist because all exchanges have their xpub addresses public
>>60992239>The asset can be manipulatedthe currency is actually one of the most impossible "assets" to be manipulated ever, since all transactions are public and markets are open 24/7 across the globecrypto can only be manipulated at the small cap levels
>>60992244The tradable contracts and products for BTC today are limitless in size. They market has created infinite bitcoins by proxy
>>60992260You obviously have not been trading for the last few years if you believe that statement. Completely clueless bruh
>>60992244Thank you for this.So paper bitcoin isn't actually a thing because all of the stock is accounted for in an xpub?
>>60992244So they basically say: for each stock you buy we will own an equivalent amount of bitcoin and they make it clear that they are actually doing this by providing an xpub that accounts for all of the bitcoin they have bought and the stock they have sold? So x amount of stock always equals y amount of bitcoin so the value of the stock is anchored to the value of bitcoin?
>>60992275>stockthe currency, you mean, is all accounted for because all custody wallets (binance, coinbase, kraken, gemmni, etc) are knownthis guy >>60992267>>60992274 didn't even know that we can see all cold storage addresses
>>60992316we can see the currency being sent to the cold wallet address, all purchases accounted for publicly no other ETF has this level of transparencyyou have probably heard about the paper silver debacle that happened multiple times with JPM over silver contractsthey wouldn't be able to pull this on crypto because all transactions are public, we see the currency sitting on the cold wallet, not moving unless there is an ETF sale
>>60992317>>60992333Nice digitsGreat, I didn't know this.So paper bitcoin isn't really a problem at all?
>>60992317>>60992333So what do you think the reason for the significant decline in price is?
>>60992356paper bitcoin is impossible for spot ETFsthere are paper bitcoin futures (CME)you could purchase infinite shares of CME futures, but you would just be gambling, not really positioning yourself
>>60992369>the significant decline in pricethere is no significant decline in priceyou have to understand that crypto currencies are unique in the sense that there is no circuitbreaker for volatility or insider worries of manipulation by its "central authority"it's a hands-off approach to currency, so volatility is unbounded
>>60992380>>60992397Fair enough, this clarifies a lot for me thank you.
>>60992317>trust the figures guys!you are retarded beyond belief, and the market you believe in is incredibly fraudulent
>>60992114all exchanges do this except the times you want to actually cash out or you want to move your bitcorns
>>60992705>trust the figuresthe "figures" match exactly the number of coins inside the cold storage walletsany other excuses?>>60994081they don't lol
>>60994094Ok CZ
>>60994768do you think bitcoin is just some phone app where you put dollars in? lolalso, why do you think that exchanges would purposely increase the spread? they would lose money from lower volatility... lol
>paper bitcoin>no deliverable>paper silver>can demand physical delivery under the correct circumstancesI'm glad I picked the better asset.
>>60996991funny you said that because silver has been victim of the greatest paper fraud in history it still goes on to this daymeanwhile a fucking notebook can audit the supply of coinbase in less than 7 hours
>>60992114>What is there to stop people from selling a stock where they sell bitcoin but don't actually have any bitcoin.blockchain analysis, laws against defrauding investors via lies, people not buying a stock they know doesnt actually own any bitcoin>The government gives tax exemptions for buying stocks, if the company buys actual bitcoin it has to tax significant tax hits.capital gains are taxed. acquisition isnt. >This makes bitcoin stocks pretty much the only way companies can buy bitcoin and the stocks are paper bitcoin stocks and not actual bitcoin.no and no, but NYKNYC
>>60992114Bitcoin holders are more likely to withdraw their holdings than holders of any other assets like gold, silver, or even USD, it's too risky to manipulate the supply of Bitcoin. Exchanges with withdrawal issues would also destroy the reputation of their brand in an instant, unless they have valid excuses. In short, manipulating Bitcoin's supply is simply not worth it.
>>60992114the same reason I blew up my account holding leveraged funds overnight its very hard to manage the cash and crypto pool positions, leveraged 2x funds especially have a hard time I lost my ass on SPXS so learn from my mistake don't hold leveraged funds overnight, exchanges frequently run out of cash no? how can you be sure the paper bitcoin tracks the real bitcoin as accurately as possible this is why the stock market companies invest so much on getting the wires right into NYSE so they can see the price changes .1 seconds earlier so the quants can trade faster. Also AI are the perfect quants they know math pretty much its hard doing it honestly without someone losing their ass.
>>61000090This. And withdrawal is hyper-trivial. No need to ship, custody, guard, insure, and store heavy precious metals.
>>61000090there's also the fact that is trivial to calculate float vs exchange wallet holdingsthe "paper bitcoin" fiatcels forgot the ledger is public as well as the orderbook from exchanges
Understand one thing lads. Now that hedge funds have bitcoin ETFs they can print out a bitcoin for themselves out nothing and use that money for bonus checks.
>>61001738they literally can't, but keep living in the jewish fiat fantasy land, nigger
>>60992127Pending realtime onchain reserve requrements, this.
>>61002703in english?
