Damus
Derek Ross · 1w
do you truly think coinbase is rehypothicating?
Marc profile picture
We have to trust them. They don't even do proof of reserve. They are too busy increasing fiat revenue by offering more and more shitcoin casino products.

We need to self-police the ReGuLaTeD companies. Online casinos are the Wild West. Some people on Absolute Poker had the ability to see everyone's cards. The players noticed some people won an impossible amount of hands. They figured out the scam using software that records every hand.

I suspect we will find out if these companies are rehypothicating in a similar way. It will be obvious when the Bitcoin Treasury companies hold 22 million Bitcoin in aggregate. Hopefully we figure it out before then.
1❤️1
Luke · 1w
There really isn't any way that we can know what's in their reserves if they don't want us to... But I take comfort in the fact that the treasury company aggregate figure is something we can use to force transparency on them when the time comes. The moment all public coins reaches 21m & 1 sat, we ...