Paper Bitcoin (FTX And GBTC)

𝐋𝐄𝐀𝐑𝐍 𝐓𝐎 𝐁𝐔𝐘 𝐀𝐍𝐎𝐍𝐘𝐌𝐎𝐔𝐒 𝐁𝐈𝐓𝐂𝐎𝐈𝐍➜➜➜
https://www.trader.university/courses...
Use the discount code YT99 to get the best price.

In this video, I discuss how the unravelling of crypto exchanges like FTX helps to destroy both paper Bitcoin and paper Bitcoiners. If you thought you were holding your Bitcoin on FTX, it turns out that neither you nor FTX were holding any real Bitcoin.

If everyone withdraws their Bitcoin off the exchanges, it will cause the bad exchanges (who are not holding real Bitcoin) to go under, and it will also provide a lesson to surviving exchanges that they should never only partially reserve their Bitcoin.

Grayscale is refusing to provide cryptographic proof of BTC backing their GBTC product. I think that this is a huge red flag, and may suggest that the trust is not fully backed by real Bitcoin.

Why else would they be trying to raise new capital, while refusing to provide proof of reserves? This goes against the whole Bitcoin ethos-- to ask someone to trust you, rather than allowing them to verify your Bitcoin holdings for themselves.

When paper Bitcoin is destroyed (as it was in the FTX blow-up), it should (all else being equal) exert upwards pressure on the price of real Bitcoin.

Not investment advice! Consult a financial advisor.

Bitcoin-only exchanges:
https://www.swanbitcoin.com/
https://river.com/
https://strike.me/

How to buy Bitcoin and withdraw it:
https://www.youtube.com/watch?v=GpWH0...

The Dangers Of "Paper Bitcoin":
https://www.youtube.com/watch?v=E8hEu...

Can Governments Keep Bitcoin's Price Down?
https://www.youtube.com/watch?v=4URca...

GBTC trades at a huge discount:
https://casebitcoin.com/

Grayscale refuses to prove that they own actual Bitcoin:
https://twitter.com/Grayscale/status/...

Bitcoin IOU's (BlockFi, Robinhood, GBTC, PayPal):
https://www.youtube.com/watch?v=t5OLA...

Bitcoin has no future as a payments network, says FTX chief:
https://www.ft.com/content/02cad9b8-e...

FTX had zero Bitcoin, only Bitcoin liabilities:
https://www.ft.com/content/f05fe9f8-c...

How To Prove That You Own Bitcoin (Signed Messages):
https://www.youtube.com/watch?v=7BtxR...

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.

My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#bitcoin
#ftx
#grayscale

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