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Coinbase Paper Bitcoin?odysee.com/@TraderUniversity:a/coinbase-paper-bitcoin:d?r=8T2xqWjtafHWYGxQBSsrbw1wQPm7sWRq
120 sats \ 11 comments \ @Undisciplined 17 Sep bitcoin
From Matthew Kratter's Bitcoin University
Video Description
Like the USD maintaining enough gold to fully back all issued US dollars in the early days of Bretton Woods, the spot Bitcoin ETFs are almost certainly fully backed today, though that may change in the future.
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36 sats \ 2 replies \ @DarthCoin 17 Sep
I have to remind you all WHO really is Conbase... #78930
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0 sats \ 1 reply \ @Undisciplined OP 17 Sep
It's generous of you to assume I ever knew.
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30 sats \ 0 replies \ @DarthCoin 17 Sep
Oct 9 is close... you will see that post in "SN this day..." :)
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34 sats \ 5 replies \ @grayruby 17 Sep
I agree they are fully backed but I don't know about the rest of the Bitcoin on Coinbase. And I don't trust that they aren't playing games short term lending bitcoin, settling in paper at one price, price gets manipulated down via futures and then funds buy at the lower price to settle the claim.
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40 sats \ 4 replies \ @Undisciplined OP 17 Sep
It sounds like they probably are doing some sort of fractional reserve type stuff. It would be surprising if they weren't, honestly. The incentives to do so are pretty dramatic.
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24 sats \ 0 replies \ @grayruby 17 Sep
Yes. I don't think they are doing what FTX is doing but I am sure they are playing the same games fiat banks play.
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22 sats \ 2 replies \ @grayruby 17 Sep
Interesting. First failed external zap was on this comment. I sent 40 but got a notice 10 sats failed. Did you get 30?
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10 sats \ 1 reply \ @Undisciplined OP 17 Sep
I got 40.
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20 sats \ 0 replies \ @grayruby 17 Sep
Odd. Shows 40 but says 10 sats failed. All good.
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21 sats \ 1 reply \ @Coinsreporter 17 Sep
I hate Coinbase because they blocked me from accessing my 12 dollars. They are a very cheap thief. I asked them to return my amount to the same bank from where I deposited, the classic reply was we never got your money and then I couldn't access my account.
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20 sats \ 0 replies \ @grayruby 17 Sep
Besides being a crypto casino that tries to addict people to gambling on vapourware tokens their disdain for their users is evident. Had many problems with them when I used coinbase but dropped them over 3 years ago.
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