Without proof of reserves, companies could claim to hold a total of up to 42 million bitcoins or more.
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Replies (13)
they will at some point
Proof of Reserve without Proof of Liabilities doesn't do much.
You don’t need PoL if the only customer is yourself
Bitcoin allows you to take the trust out of the system so any human willing to put the trust back into the system deserves whatever human action comes one way.
Indeed! That's the perfect spot to be 😜✊🏼
This is a video with Michael Saylor explaining why he won't show a wallet as proof-of-reserves.
https://x.com/BTC_Archive/status/1927302958946849108
Get #Bitcoin.
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I think we all have a good sense of Strategy’s liabilities…
Strategy's holdings are at Coinbase.. as many more others big entities and ETFs.
Do we have Coinbase liabilities..?
That’s a lot murkier for sure… you’d hope Saylor would know. It would be very irresponsible if not.
It’s not like Bryan Armstrong can’t go to jail or anything… 😆
He can, but lost coins are lost forever.
Anyway this is my personal view on Saylor's game play..
Unpopular opinion..
Saylor is the suit version pf Do Kwon..
Strategy is the Wall Street version of Luna.
Not saying will end up the same way, saying they are doing the same thing. Not even saying Luna was a legit peoject, but I remember some like Pompliano preaching its btc reserve accumulation as Maxi thing.
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I think your intuition is right…
🫂