Last cycle, FTX printed paper Bitcoin, who is doing it this time?
32 sats \ 6 comments \ @RoundaboutStacker 5 Sep bitcoin
After the fact, we all found out that FTX was selling paper Bitcoin, and in the end, many people lost a lot of money. This had the minor, short term effect of keeping the price from peaking during the bull run 4 years ago. Now, with all the ETF's, the natural question is, is there sufficient oversight, are the ETF's really holding the amount of Bitcoin they say they are? Or are they selling paper Bitcoin, and in the end, the people who bought them will lose their shirts, again.
When will people learn, there is no shortcut. You either own Bitcoin, or you own a promise of Bitcoin. History is full of those promises being broken.
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21 sats \ 5 replies \ @TheBTCManual 5 Sep
I'd say WBTC is a good place to start sniffing around especially those issued on TRON, loks like they've been having quite a bit of trouble, so i'd say exchanges involved with it like poloniex, could also be part of this, double spending drama
I see tBTC also wants to merge with wBTC, so me wonders why?
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0 sats \ 2 replies \ @RoundaboutStacker OP 5 Sep
That would explain why I was receiving TRON spam recently.
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0 sats \ 1 reply \ @TheBTCManual 5 Sep
whats the tron spam all about?
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0 sats \ 0 replies \ @RoundaboutStacker OP 5 Sep
Mostly junk emails, also a few direct chat attempts. Felt similar to FTX a few years ago.
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0 sats \ 1 reply \ @nkmg1c_ventures 5 Sep
I thought Threshold (tBTC) was about privacy and avoiding KYC, but the custodian for WBTC requires larger firms and KYC? How would they merge?
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26 sats \ 0 replies \ @TheBTCManual 5 Sep
From what I gather they propose to remove BitGo as the custodian, and replace it with Threshold’s DAO for WBTC while also disabling tBTC minting, allowing existing tBTC holders to redeem WBTC at a 1:1 ratio.
https://forum.threshold.network/t/savewbtc-a-merger-with-thresholds-tbtc/923
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