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5 sats \ 2 replies \ @Scoresby 12 Jun \ parent \ on: Bitcoin treasuries now hold nearly one-third of bitcoin supply bitcoin
Yes, but somebody is holding the coins. And it's not exactly a widely diversified group of entities...
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136 sats \ 1 reply \ @DarthCoin 12 Jun
Yes, I do not deny that. There's a mafia in place: exchanges and big miners holding most of it. Then they go to these ETFs and so called "BSR" and say "here is your BTC IOU, now you can say publicly that you "own" x amount of BTC. You can even sign PoR if you like".
Exactly like Bitfinex did with so called El Salvador "reserve". They just provide a public BTC address and Bukele can brag with it publicly on twatter.
IT'S ALL A GAME OF SMOKE AND MIRRORS.
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26 sats \ 0 replies \ @nikotsla 12 Jun
This!
And remember... they already have in place all the shitty algorithms to "manage" those IOU, if you use IOU currency, you are playing their game, and you will lose.
Move your BTC to you own custody, use it. It's our only weapon.
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