"Only when the tide goes out do you discover who's been swimming naked” - quote Warren Buffet Ref. @ODELL's poll: “what’s more likely? 1) satoshi’s coin is stolen by a quantum attacker 2) saylor’s coin is stolen by the us gov” —————————————— Mass withdrawals from Coinbase-IOU’s, into self custody freedom money, would in effect be a bank run on Coinbase to “discover who's been swimming naked.” Bank runs can happen quickly on issuers of Bitcoin-IOU’s from custodians like FTX, Mt. Gox, Coinbase, Celsius, BlockFi etc. Ask yourself. What would happen if the following categories started mass withdrawals for Coinbase-IOU’s on Sunday evening? • plebs • @Michael Saylor • freedom fighters • “Strategy” AKA $MSTR • every other major BTC “Treasury” Company •11/12 US Spot Bitcoin ETFs, except Fidelity / $FBTC, which, according to them self, practices self custody. What would happen with the BTC-price denominated in filthy fiat currencies, after the Coinbase bank run? But remember what @Jeff Booth have tried to teach you in 21+ Bitcoin-podcast interviews: “You can’t measure the system, from within the system” —————————————— “Not your keys not your coins”🔑 View quoted note → View quoted note → View quoted note → View quoted note → View quoted note →