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This is likely good for price, bad for adoption and a trojan horse for paper bitcoin.
Paper Bitcoin will unfortunately come to this world. But pretty sure not through this vehicle. It will come through "cool" and "sleek" custodial apps.
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I'm not sure where I stand with the paper BTC risk. I don't think fractional reserve systems last long with an asset as fluid and verifiable as Bitcoin.
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Let's hope.
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