If somebodies buying all 450 BTC per day, then the reserve companies are definitely buying paper Bitcoin.
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Have been saying this for ages. No one seems to care?! (Somebody's by the way, Author)
Lots of paper Bitcoin out there. The scramble for self custody should be epic. 
As an author, your bracketed sentence is incorrect, it should read:
The plural of Somebody is "Somebody's", by the way "Mike" the Author.
They don't pay me the big author bucks to spell, they pay me to write ๐
I wonder if Saylor will accept @BTC Sessions offer to teach him how to use a cold wallet ๐
I thought you were going to write something about proof readers. In a roundabout way, you did. I win again. Go me
I asked my cousin, a retired medical journal editor to proof read my book, she wasn't keen, so I just published it with all the mistakes intact ๐
Yep, it seems obvious, yet there's a strong culture of denial among Bitcoiners. I suspect that the SEC approvals of the ETFs might have actually been a "conspiracy" between regulators and fiat kings to attempt to rehypothecate Bitcoin out of existence.
Tell me why I'm being an idiot?
For wankers like me to moan about
Conspiracy implies an agenda driven central intelligence.
I'm going for the multiple cheap huckster narrative ๐
Yes ๐
This is the kind of pedantry up with which we will not put! ๐
Fair enough. They're definitely cheap hucksters, but the fact that the regulator shows no interest in regulating, seems to suggest conspiracy too.
I just watched the start of a YouTube video about the Titanic sinking, suggesting that J.P. Morgan organised it all in order to drown his 3 biggest rivals who would have opposed his plans for the Fed.
He was due to be onboard but became ill, so missed the boat, only to die a year later from a heart attack.
Apparently the earth is flat.
The best way to hide real conspiracies is to drown them in a sea of fake ones.
Occam's razor teaches us that mostly, people are stupid ๐
Agreed ๐๐ป
The statistics based on the reaserch "money created out of thin air" says thats 99% of the companies are buying paper bitcoin from the ETFs.
ETFs already dont have it because they are buying it from Coinbase that says they have it.
But study shows that coinbase also uses the users bitcoin, to resell it to ETfs.
With this most of coinbase users will not have their bitcoin when then find this and start withdrawing like crazy.
Not your keys not your corns bros.
Conclusion: Where the fuck is this bitcoin they say they bougth?
#disclaimer
(This article is based in conspiracy teories and fake news)
Rehypothication is a real thing, despite the made up statistics ๐
I am more than positive. That strategy does not hold all that Bitcoin. He is saying I am sure he has a deal with foundery or Mara, and he's gonna receive those bitcoins as they get generated.
If somebodies buying all 450 BTC per day, then the reserve companies are definitely buying paper Bitcoin.
View quoted note →
I wonder if he has even used it himself. LOL. He will be ready for the final Ibiza boss.
Tim wouldn't lie to us.
Iโve flown Concorde, so technically Iโm an astronaut, except I got to quaff champagne and down foie gras instead of the paste shit they have to eat ๐
Or. People are selling their bitcoin.
You're not an idiot. You're just speculating with zero evidence.
Yes, but if held in self custody, Arkham track those inflows.
There is selling, but not enough to satisfy even a fraction of the reserve companies purchases.
I don't understand how ETFs will take btc out of existence. Could you explain?
Can't wait to see who's swimming naked. ๐ค
True. I suppose people invented gods as a way to explain the unexplainable, so same same.
I guess I should accept that the reason for the current Bitcoin price action is simply a case of supply meeting demand. The whales are off-loading.
Just a stupid theory, but if they keep rehypothecating into paper BTC, then how would it be any different from fiat. Any company that can't or won't prove reserves should not be trusted.
"paper bitcoin", if it's full-reserved, isn't necessarily a problem. The treasury companies can buy it on an exchange and just leave it there for a while.
Maybe Strategy have a little bit in practically every credible exchange across the world, and also some in ETFs
You think Strategy have any Bitcoin?
You are not alone, others trust they do too.
By paper Bitcoin in this context we are referring to rehypothecation
Thanks for clarifying that you meant rehypothecation
Why couldn't they be buying sold Bitcoin? There could be more than 450 per day total on the market?
This:
View quoted note โ
> There is selling, but not enough to satisfy even a fraction of the reserve companies purchases.
Based on what ?
do you have data feeds from every OTC desk ?
you're just speculating over nothing as far as I can do.
your starting point in paper bitcoin and you're working backwards.
No 6 incoming ๐
View quoted note โ
my bad I assumed we'd left all the fuckwit timewasters behind on X ๐
Yes you are correct ๐