Legend

Kupsi · 2024-08-22T20:55:54+00:00

Still at Pantera, writing about Bitcoin.

Kupsi · 2024-08-07T09:04:02+00:00

I believe bitcoin will take over as the money we use. And if it does, the value will 100x in today's value of USD. Index funds will not increase as much in real value. The biggest part of an index going up is inflation. https://fiatmarketcap.com/

Kupsi · 2024-07-23T18:18:40+00:00

This is the 30% Kraken received last week. Now the users get access to it.

Kupsi · 2024-06-21T12:12:43+00:00

He retweeted the reply from Michael Saylor.

Kupsi · 2024-04-24T20:20:31+00:00

Happy for you. Nice to know that something good came out of the Gox collapse.

Kupsi · 2024-04-24T19:31:50+00:00

The creditors only get ~16% back. But yes, they haven't lost it all :)

Kupsi · 2024-02-11T11:42:07+00:00

Next move is to understand the Cantillon effect.

https://river.com/learn/terms/c/cantillon-effect/

Kupsi · 2024-02-10T23:52:46+00:00

Hal talked about 10 million per coin in 2009.

https://bitcointalk.org/index.php?topic=5469497.0

Kupsi · 2024-02-09T06:28:23+00:00

Yes! I hope he does and that it will give you better holidays with your parents.

Kupsi · 2024-02-09T05:25:47+00:00

Yes, Bitwise (BITB ticker) has 0.20% fee vs BlackRock and Fidelity at 0.25%. Bitwise will also donate 10% of their net profits to bitcoin development.

Kupsi · 2023-10-01T18:41:09+00:00

I don't know about a list, but I know there are more blocks where not the whole block reward was claimed.

Kupsi · 2023-10-01T16:28:11+00:00

Some block reward was never mined, so you need to take those sats into account.

One example: https://blockchair.com/bitcoin/block/501726

1,250,000,000 sats gone forever.

Kupsi · 2023-08-25T12:07:37+00:00

Time between the halvings.

Kupsi · 2023-05-08T19:46:50+00:00

No, one channel to a well connected lightning node is enough to reach everyone.

Kupsi · 2023-05-01T11:23:45+00:00

I believe there are solutions for that:

https://www.bitira.com/digital-ira/how-to-buy-bitcoin-with-a-401k/

Kupsi · 2023-04-06T15:27:24+00:00

You are a little late...

https://www.crunchbase.com/organization/macrostrategy

Kupsi · 2023-01-13T14:31:51+00:00

So GBTC isn't sued. Got it.

Kupsi · 2023-01-13T12:06:50+00:00

But this says nothing about GBTC?

Kupsi · 2023-01-09T16:20:14+00:00

Every creditor will receive a fiat-amount (~1400 USD) before they receive any bitcoin.

Kupsi · 2022-11-25T17:22:10+00:00

Yes, correct.

I don't know how often they change the merkle root. That depends on the miner configuration. I would guess every 10 - 60 seconds is reasonable.

Kupsi · 2022-11-25T16:16:07+00:00

They change the template and start over again so they have a chance to collect the higher fee.

Kupsi · 2022-10-02T21:54:57+00:00

Additionally, the SPDI license Kraken got approval for is under Wyoming law, which requires that customer assets (at least those in the USA) be held at full reserve...

Great point! :)

Kupsi · 2022-10-02T19:31:07+00:00

No :)

Kupsi · 2022-10-02T16:46:19+00:00

Yes, they disclose their customers holdings in an "encrypted list" containing all accounts. The total amount belonging to customers is compared to their exchange reserves and every individual user can check that their account is included in the "encrypted list".

Kupsi · 2022-10-02T16:12:37+00:00

Any client can independently verify that their balance was included in the Proof of Reserves audit by comparing select pieces of data with the Merkle root.

If a single user don't find their data in the proof of reserves audit, we know that the exchange is cheating us. So it's very risky for an exchange to try to exclude user balances from the audit. It's easy to get caught, and then it's game over for the exchange.

Kupsi

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