>>61957714
Yep. Time to short.

Cringe, obviously this scene is not for nlme

one dude controls 1/20 th of the token supply....

How is this not a sh*tcoin? (like all other crypto is)

>>61957886
Because he earned it fair and square. And he doesn't own 1/20th of the Bitcoin protocol, he only owns 1/20th of the token supply. It's an important distinction retard.

And why exactly should anybody care that a ponzi boomer buys on uncovered institutional debt a load of shit?

>>61957886
It's 3.5% which is quite low. Lots of stock ownership is more centralized.

>>61957714
Hell yeah

How exactly do they keep track of that much bitcoin? Is it just in one giga wallet or how does that work? Auditing all that has to suck the more wallets they have

>>61957955
Spread out across multiple third party custodians in cold storage so there's no single point of failure. Coinbase and Fidelity hold many.

>>61957714
He will be the one to end Btc

>>61958056
And like other ponzi models they use the book value as collateral for secondary and tertiary layer ponzis. Oops, one sneeze and trillions of virtual rehypothecation "value" goes to 0

>>61957714
what a moron kek

>>61958087
>they use the book value as collateral for secondary and tertiary layer ponzis.
No they don't

>>61958166
Of course they do.
Same as every other ponzi model company, from black rock/vanguard "asset managers" over the usual communist suspects of banks and primary broker companies that service secondary broker companies.
The "managed" value on their books goes into their general book value, and from the 20th century ponziconomy perspective, it would have been irrational to not use that general book value for more ponzis.
From a 21st century perspective it was suicidal

>>61958182
Nearly forgot the foundational layer ponzi that operates on the same methodology, the sovereign bond ponzi of communist central planning scammers. Nothing else is the foundational layer of "states" - use the book value "managed" to emit ponzi shares that are essentially worthless promises