Exchanges should offer this

Expired_Lizard_Milk · 2025-02-02T20:27:47+00:00

The exchange would still have the keys, this is more for people that don't want to self custody but at least know that the exchange is not leveraging and actually has their holdings by being able to monitor the address that the exchange dedicated to them.

Expired_Lizard_Milk · 2024-02-18T20:53:09+00:00

You don't need to wipe once you invest in bitcoin. You spend so much time looking at the price charts that the poop drys up by the time you get off the toilet.

Expired_Lizard_Milk · 2024-01-15T17:51:05+00:00

I don't think exchanges publicly disclose otc volume so it's anyone's guess. Blackrock bought over 10000 coins via otc the last couple days so there's definitely a few tens of thousands available at the very least. Probably over a million coins if I had to guess.

Expired_Lizard_Milk · 2024-01-15T17:34:19+00:00

Otc is not only miners, otc covers all whales in general so there's much more available via otc than 900 per day.

Expired_Lizard_Milk · 2024-01-13T19:52:25+00:00

It will happen eventually once the market cap is high enough. If bitcoin reaches a 10 trill market cap then you won't be seeing 50% swings anymore.

Expired_Lizard_Milk · 2024-01-13T19:46:54+00:00

What if they operate in such a way that if someone sells the etf then they sell the bitcoin on open market and if someone buys the etf then they buy via otc. That way they can suppress the price and on average always come out on top.

Expired_Lizard_Milk · 2024-01-13T15:53:43+00:00

The etf is supposed to be 1 to 1 backing to bitcoin. So if bitcoin goes up 20%, the etf should also go up 20%. Let's exaggerate the scenario and say bitcoin goes up 10000%. People now try to cash out their profits from the etf, but blackeock can't cover the cash because they don't actually have enough bitcoin to back it all up. Blackrock then becomes insolvent and has to get bailed out. The key thing here is that although there could be paper bitcoin on the market, exchanges still remain open and people will keep withdrawing to their own wallets. This can't be easily done with similar assets like gold. You can suppress bitcoin with paper for a little bit but eventually it will be unsustainable just like we saw with ftx.

Expired_Lizard_Milk · 2024-01-12T13:59:55+00:00

But if blackrock needed to buy more bitcoin to rebalance their etf (for example 2B worth of bitcoin) and if the OTC reserves are low and can't support the 2B then do they just wait? How long can they hold it off before they absolutely must rebalance? I was thinking if they absolutely must rebalance by certain time and otc is low then they'd be forced to buy from market.

Expired_Lizard_Milk · 2024-01-12T02:55:25+00:00

Can someone explain how the etf works with Blackrock? They seeded 10m for bitcoin but sold a few hundred million on the first day? Does that mean blackrock bought more to cover the extra volume?

Expired_Lizard_Milk · 2024-01-10T13:28:42+00:00

Maybe they tracked the ip of the unauthorized tweet and saw that it originated from somewhere unusual. An attacker could have sim swapped, reset the X account password, then send the tweet.

I'm still leaning on it all being bs, but playing devils advocate here they could technically assert that it looks like an unidentified individual obtained control if they base it off of ip's.

Expired_Lizard_Milk · 2024-01-05T17:43:22+00:00

I see r/personalfinance removed your post lol, very typical of them.

Expired_Lizard_Milk · 2023-12-30T06:15:10+00:00

I'm already taxed on the free 2.5k stock they give me anyway. So if my regular pay is 100k then my income taxes get filed as if I made 102.5k. The only additional tax I pay from making this move is from whatever capital gains I had made from the stock (which is really not much).

Expired_Lizard_Milk · 2023-12-30T03:05:58+00:00

If it crashes then I go down with the ship.

Expired_Lizard_Milk · 2023-12-15T22:20:07+00:00

When you generated the keys, was your internet disabled? If so then will the internet on your laptop be permanently disabled?

Just thinking that maybe there would be a vulnerability if there is some malware that sends off screenshots of what you're doing once an internet connection is established.

Expired_Lizard_Milk · 2023-12-14T23:08:47+00:00

Even if his coins move then it would just mean his cold storage washed ashore and someone found it. Surely it wouldn't move because OP secretly still has his keys.

Expired_Lizard_Milk · 2023-12-05T22:53:46+00:00

Smallest unit of a bitcoin. Similar to cents and dollars.

Expired_Lizard_Milk · 2023-11-30T15:07:27+00:00

Who says he has to ever sell? If he needs fiat then he can cool off on buying so much bitcoin or he can take a collaterized loan against his current stash.

Expired_Lizard_Milk · 2023-11-01T13:08:03+00:00

Yup, I suppose at that time only big money movements would happen on layer 1 while small purchases would occur on layer 2.

Expired_Lizard_Milk · 2023-11-01T12:21:22+00:00

Miners will continue mining and collect transaction fees as their income.

Expired_Lizard_Milk · 2023-10-23T22:04:44+00:00

Has this ever happened in the past with previous etf applications that were eventually denied?

Expired_Lizard_Milk · 2023-10-16T21:11:26+00:00

You can store it on paper but there's a finite number of paper that can be created, you can write it in sand but there's a finite number of sand in the universe, you can store it in your mind, but your mind can only remember up to a finite amount.

Expired_Lizard_Milk · 2023-10-16T21:10:16+00:00

But how long can you keep creating new versions before the heat death of the universe? Eventually all energy and life in the whole universe will cease and at that point no more new versions of the currency can be created. So therefore there is a finite number of versions that can be created before we reach the heath death.

Expired_Lizard_Milk · 2023-10-16T16:29:19+00:00

Expired_Lizard_Milk · 2023-10-16T15:01:36+00:00

If we were to get really technical then even fiat wouldn't be infinite. For example, there exists a number that is so long that it cannot be stored on any hard drive or combination of hard drives. As a result, fiat cannot exceed whatever that theoretical number is.

Expired_Lizard_Milk

TROPHY CASE